SCOTTSDALE, Ariz. -- Clear Demand, a retail machine-learning company, has customized its core pricing, promotion and markdown solutions for convenience-store retailers.
The update combines an analytics engine with a user interface designed to help pricing and merchandising teams interpret, implement and communicate their activities around pricing and promotions. The company also includes an analytics-as-a-service model with its professional services team to augment the pricing resources of its customers through strategic or ad hoc analysis. Clear Demand also leverages Nielsen competitive data as a connected partner.
“Many c-store retailers are not staffed to manage a pricing solution, so Clear Demand offers analytics-as-a-service in which we operate as the retailer’s pricing team. Further, it is difficult for c-store retailers to shop their competitor’s prices due to the large number of stores in the convenience industry. We can also utilize Nielsen data as a surrogate for competitive data,” said Clear Demand CEO Jim Sills.
Bob Stein, the former CEO of both analytics company Kalibrate and retailer Dairy Mart Convenience Stores, will be supporting Clear Demand as an adviser. He has worked to ensure that the program can account for the unique challenges c-stores face within the foodservice, tobacco and beer and wine categories, among others.
Ricker Oil, a c-store retailer based in Anderson, Ind., was one of the first customers to successfully implement the updated solution. An initial test and control pilot yielded a significant increase in gross profit, and they are now expanding the work across the rest of their merchandise categories. “Clear Demand has helped us transform our mountain of merchandise and promotional data into retail price changes that have yielded measurable gross-profit increases,” said Quinn Ricker, CEO of Ricker Oil.
Scottsdale, Ariz.-based Clear Demand delivers an omnichannel lifecycle pricing solution for retailers that synchronizes prices, promotions and markdowns online and in-store to produce a consistent brand and shopping experience.