Clear Demand Launches Omni-Channel Pricing on Big Data

“Big data is a top 10 corporate priority and will become a key basis of competition. Retailers using big data to the fullest can increase operating margins by more than 60 percent.” McKinsey & Company

Clear Demand, retail pricing strategy leader, announces the first omni-channel retail pricing solution, architected on big data, to support all retail sectors. Clear Demand’s omni-channel retail pricing solution addresses the complete lifecycle of pricing from everyday price through promotions and markdowns and introduces innovations specifically designed for competitive and rule-based pricing, both online and in-store. Read more about big data and omni-channel retailing in Clear Demand’s Retail Pricing Strategy Series Volume #2, “Big Data Converges with Omni-Channel Retailing for Competitive Advantage.”

Having developed and/or influenced the first two generations of pricing solutions occurring over the last 15 years, Clear Demand executives are uniquely qualified to advance the guiding principles for the next generation of pricing technology: omni-channel, competitive and rules-focused, transparency, ease of use and speed.

Clear Demand’s Bold New Vision

Clear Demand proposes to shift the focus from “more data” to “more business information” delivered “at the point of decision”; and then challenge conventional thinking with a new generation of omni-channel pricing architecture which, when combined with big data, will neutralize some competitive advantage enjoyed by Amazon, eBay and their Internet contemporaries.

Omni-channel retailing has arrived. Clear Demand has responded with Omni-Channel Pricing.

What is big data?

A popular definition of big data describes it as “data that is unstructured, difficult to capture, store, process and analyze using traditional database and software tools.” In retail, think of where unstructured data can now originate; ecommerce sites, social media sites, blogs, product information sites, exit surveys, email responses to promotional offers, loyalty programs and you begin to get the picture.

What is omni-channel retailing?

Omni-channel retailing is the next evolution of “multi-channel retailing”. Whereas multi-channel retailing treated online and stores as separate channels, omni-channel retailing leverages information (big data) across channels to create a consistent brand and shopping experience which drives purchases and loyalty. Some refer to it as creating an “interconnected customer experience”.

Why should retailers care?

Profit, sales and loyalty! IDC Research reports that multi-channel customers spend 15 to 30 percent more than single-channel customers and omni-channel customers spend 20 percent more than multi-channel customers – with more loyalty! In isolation, big data is not the solution. The solution requires tools and analytics which interpret these big data inter-connections and generate actionable intelligence for merchants.