TCS has been named as a representative vendor in the 2022 Gartner Market Guide for Retail Unified Price, Promotion, and Markdown Optimization (UPPMO) Applications. It has got the recognition for TCS Optumera™ that enables retailers to seamlessly orchestrate data across the value chain and make optimized decisions across space, assortment, price, promotion, markdown, and supply chain.
“Repricing in times of inflation is a tight-rope balancing act; retailers who are empathetic to consumers’ financial concerns and build trust in their brands will emerge winners,” said Shankar Narayanan, President, Business Group Head, Retail Cluster, TCS. “TCS Optumera helps retailers make customer-centric-yet-profitable pricing decisions without compromising on the value proposition of the product or the brand.”
A great pricing strategy is not just one of the most critical growth levers but also the quickest path to improve customer perception. But amid inflationary pressures, evolving demand patterns, and proliferation of SKUs and channels, price optimization continues to be a moving target. TCS Optumera™ Unified Price, Promotion, and Markdown Optimization helps pricing managers take complete control of pricing throughout the product lifecycle. Its sophisticated data science considers over 1,000 factors that influence sales, in addition to the traditional parameters such as competition and past performance, and provides optimal recommendations for executing unified pricing, promotions, and markdown strategies. Instead of feeling constrained to make broad brush pricing moves based on sub-optimal analytics, pricing managers and analysts can now experiment with different strategies such as dynamic pricing, competitive pricing, channel-based pricing and promotions, and store-level markdowns and decide on the optimal strategy with confidence.
Retailers using TCS Optumera have reported a 3-5% increase in sales, 30-50% savings on time spent, and 20-30% savings on costs. They are also able to execute 5x more strategies.
TCS Optumera is part of the TCS Algo Retail™ suite, which enables retailers to seamlessly integrate and orchestrate data flows across the retail value chain, harnessing the power of analytics, AI, and machine learning to unlock exponential business value.
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TCS Optumera helps retailers make customer-centric-yet-profitable pricing decisions without compromising on the value proposition of the product or the brand.