Quadrant Knowledge Solutions announced today that it has named DemandTec by Acoustic a Q4, 2023 technology leader in the SPARK Matrix™ analysis of the Intelligent Retail Pricing & Promotion Optimization (IRP&PO) market.
The Quadrant Knowledge Solutions SPARK Matrix™: Intelligent Retail Pricing & Promotion Optimization (IRP&PO), Q4, 2023 includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading Intelligent Retail Pricing & Promotion Optimization (IRP&PO) vendors in the form of its SPARK Matrix™. It gives users strategic information to evaluate vendor capabilities, competitive differentiation, and market position.
According to Saad F. Shaikh, Analyst at Quadrant Knowledge Solutions, “DemandTec by Acoustic’s intelligent retail pricing and promotion optimization platform utilizes AI/ML to provide retailers with a holistic view of consumer demand. It delivers optimal real-time price, promotion, and markdown recommendations that meet retailers’ financial goals. DemandTec’s Total Lifecycle Pricing platform uses advanced analytics to generate precise demand forecasts and optimize prices for various products, channels, and customer segments, maximizing sales and improving customer experience. Furthermore, the company’s platform enables retailers and suppliers to collaborate and plan effective promotions, and helps them execute personalized promotions to increase sales.” Saad added, “DemandTec by Acoustic has received strong ratings across the parameters of technology excellence and customer impact and has been placed as the leader in the SPARK Matrix™: Intelligent Retail Pricing & Promotion Optimization (IRP&PO), Q4, 2023 owing to its comprehensive and innovative retail pricing solutions, compelling vision and roadmap, extensive IRP&PO vendor ecosystem, year-on-year growth, and comprehensive product offerings with in-depth domain experience.”
“We’re excited to see our continued investment in innovation recognized by Quadrant Knowledge Solutions with DemandTec by Acoustic’s positioning as a technology leader in its SPARK Matrix report. This recognition validates our strategy to provide a smarter, faster, simpler way to optimize retailers’ pricing, promotions, and markdowns at speed and scale,” said Jack Tirella, Executive Vice President & General Manager of DemandTec by Acoustic. “At a time when balancing retail profitability with consumer demand is increasingly challenging to achieve, this acknowledgment underscores the power of our lifecycle pricing recommendations to empower retailers with a winning, consumer-driven pricing strategy.”
Quadrant Knowledge Solutions defines an Intelligent Retail Pricing & Promotion Optimization (IRP&PO) solution as ‘a solution which helps retailers optimize prices across the product lifecycle, plan effective promotions, and formulate optimal markdown strategies. The solution utilizes advanced analytics to increase sell-through, maximize sales, and improve margins. The solution also helps retailers manage prices with ease and monitor the pricing performance. It equips retailers with a granular analysis of their consumers and the market by leveraging insightful data to recommend real-time prices across all channels and enable them to make informed pricing decisions.’
