15 May Protecting your margin during Promotions
The latest version of ab-initio (V6) features a powerful ‘Promotions Management’ module offering an extensive range of promotions capability to enable retailers and wholesalers keep their customer offer relevant, attractive and commercially effective.
The module has been enhanced in specific areas to provide more flexible ways in which promotions can be quickly defined, implemented, and easily managed.
It provides highly customised options for teams to set very targeted promotions with characteristics to suit their campaigns – such as by time periods, by specific customer groups, departments, store groups, by SKUs, or specific locations etc.
Merchandise teams can also avail of the ‘Promotions Calendar’ to help them view all or a selection of their schedules of product/seasonal promotions. The calendar also allows the user to plan in promotions from the brands they carry, making it a visual representation of promotions across the business.
The Promotions Management module also handles Coupon Management (physical and digital) with seamless integration with ab-initio’s Customer Loyalty module to ensure redemptions include any customer loyalty promotions.
It’s a highly sophisticated module that offers deep levels of customisation and has retail intelligence in-built
Introducing the ‘Promotions Simulator’
A key component of the updated module is the ‘Promotions Simulator’.
This sophisticated feature empowers promotions or merchandise teams to simulate one or more promotions for a given store or groups of stores – before they go live.
The team can define and change the characteristics of individual promotions within ab-initio and then run them against a test basket to verify that they will operate as expected. The module will present any exceptions allowing the user to test the basket items individually until there are no underlying issues.
This capability opens up a world of new opportunities to grow sales and also to mitigate risks through significant margin loss from running poorly constructed promotions.
Putting the customer first, the retailer or wholesaler can verify what the customer can expect to receive, and consequently what the business is giving away in terms of margin.
No hardware needed
The very same Promotions Calculator which is at the heart of the ab-initio EPoS system has been encapsulated in such a way that it can be run as an independent service.
This means no physical POS unit is required, and there is no need for someone to be physically scanning products, coupons, etc to test a promotion. Promotions can be created, tested quickly, refined and rolled-out with confidence, at speed.
Knowing in advance the commercial impact of promotions, both for the customer and for the business, empowers retailers and wholesalers to deliver highly effective promotions which offer real value to the customer.