DALLAS, Feb. 23, 2021 (GLOBE NEWSWIRE) — Symphony RetailAI, the leading global provider of integrated AI-enabled marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, today announced that it was recognized as a Representative Vendor in Gartner’s 2021 Market Guide for Retail Unified Price, Promotion and Markdown Optimization Applications (Gartner subscription required).
According to Gartner, major factors driving differentiation among vendors and/or data providers include:
- Use of AI throughout the UPPMO process to enhance speed and accuracy.
- High-quality visualizations that help business users understand recommended prices and align strategic goals with results.
- Tight integration of processes and pricing execution systems to ensure timeliness and consistency of prices across sales touchpoints.
- Provision of promotion planning/calendars/layout capabilities to facilitate performance.
- Advanced segmentation capabilities that will support contextualized real-time pricing:
- Structured customer data for personalization, such as loyalty data.
- Unstructured data for personalization, such as social data.
- Integration with campaign management for better marketing alignment.
The Symphony RetailAI Promotions Optimization Suite enables retailers to generate efficient and effective promotions that maximize ROI. The Promotion Evaluation application makes it easier than ever for retailers to evaluate every promotion at the most granular and actionable levels, down to the UPC and store, across three critical levers – sales, profit, and customer impact. Symphony RetailAI’s Promotion Planning and Forecasting application uses AI to recommend customer-centric promotion plans and circulars that are designed to maximize incremental sales and margin, rather than just repeat or tweak last year’s plan.
“Retailers and CPGs invest billions in promotions each year, but many fail to break even,” said Sy Fahimi, SVP Product, Symphony RetailAI. “However, AI and machine learning, combined with the expertise and experience of promotion managers, enable an agile approach to creating optimized promotions. We believe that our offering stands out in the market for these reasons, as evidenced by the fact that Symphony RetailAI has helped retailers to reduce ineffective promotions by 15-20%, in addition to realizing sales and margin growth of 5-10%. Through the AI and machine learning powering our solution, retailers move from analysis to action without sacrificing accuracy or loyalty.”
View the Market Guide for Retail Unified Price, Promotion and Markdown Optimization Applications here (Gartner subscription required).
Gartner, “Market Guide for Retail Unified Price, Promotion and Markdown Optimization Applications,” Robert Hetu, 6 January 2021.
- Promotions Optimization Suite
- Promotion Evaluation Application
- Promotion Planning and Forecasting Application
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Symphony RetailAI
Symphony RetailAI is the leading global provider of role-specific, AI-enabled revenue growth management solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain. Our proven, industry-leading, AI-enabled software, coupled with the industry’s only conversational natural-language AI interface, CINDE, provides key users with proven prescriptive and preemptive recommendations that make it easy to identify end-to-end growth opportunities, activate plans and realize measurable profit and revenue growth. Our solutions are specific to key decision-maker roles focused on profitable growth across the retail value chain from source to consumer. With our strong global partner ecosystem, we serve more than 1,200 organizations worldwide – including 15 of the top 25 global grocery retailers, 25 of the top 25 global CPG manufacturers, thousands of retail brands, and hundreds of national and regional chains – all through the Microsoft Azure Cloud. Symphony RetailAI is a SymphonyAI company. More at Symphony RetailAI.
SymphonyAI is the fastest-growing private group of B2B AI companies, backed by a $1 billion commitment to deliver next-generation AI solutions for transforming the enterprise. SymphonyAI addresses use cases in healthcare and life sciences, retail and CPG, industrial manufacturing, energy, oil & gas, media and entertainment, defense, and financial services. Since its founding in 2017, SymphonyAI has grown rapidly to a group of eight companies with a combined revenue run rate of more than $350 million. Over 2,000 talented leaders, data scientists, and other professionals operate the group under the leadership of one of Silicon Valley’s most successful serial entrepreneurs, Dr. Romesh Wadhwani, founder of the Wadhwani Foundation. More at SymphonyAI.
Ketner Group Communications (for Symphony RetailAI)
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