While optimizing an individual promotion can be important, the mechanics of it are well understood. Often retailers need to take a wider point of view of profitability to determine what items to promote and when. Austin Labs application specializes in tailoring promotions in situations where an entire category or multiple categories need to be considered together for a meaningful optimization. For example, a vertically integrated retailer should maximize their profits by identifying what SKUs are best for promotions given their supply capabilities. A retailer that wants to promote fresh milk products as a traffic generator should let the data determine if the resulting traffic and higher sales will actually generate more profit.
- Optimize promotions while taking into account its impact on other products and categories
- Identify if non-promotional avenues to move product can outperform promotions
- Maximize profits and not just promotion effectiveness