A newly forged partnership between Datasembly—provider of real-time product pricing, promotions and assortment data for retailers and CPG brands—and Numerator, a data-driven consumer and market intelligence company, offers monitoring and analysis designed to help retailers maximize the sales lift associated with temporary price reduction (TPR) promotions.
“Sophisticated retailers are manipulating prices and promotions with surgical precision. In order to remain competitive, retailers must track their competition with a level of granularity and recency that has never been available before,” Ben Reich, founder and CEO of Datasembly told WGB. “This partnership unlocks the full picture of promotions and TPRs so that a grocery retailer can adjust their promotions in response to hyperlocal competition.”
Now available within Numerator’s Promotions Intel and Promo Insights solutions, TPR monitoring leverages Datasembly’s retail pricing data to report on TPR promotions alongside Numerator’s omnichannel promotional coverage, enabling customers to efficiently monitor and analyze promotions, the companies said. Using TPR, customers will have access to insights faster, enhancing their ability to create and implement promotional strategies in real time.
With price inflation—as predicted—leading to higher consumer packaged goods (CPG) costs, grocers’ attention to pricing at area competition and online has become increasingly important.
“The market forces of inflation and commodity price increases have led to increased volatility when it comes to prices and promotions,” Reich said. “This has compounded the already unprecedented levels of volatility caused by the pandemic. In this sort of market, it is more important than ever to track your competition at the store level and at the item level in order to truly understand the shopper experience.”
Washington D.C.-based Datasembly collects hyperlocal, real-time data from tens of thousands of retail, grocery and QSR locations across North America. Its web app then leverages the data “to solve real-world problems and deliver immediate visibility and insights that save time, money and improve efficiencies,” the company said.
As today’s consumers continue to demand a seamless purchasing experience and brands go omnichannel, the gap between online and offline pricing is closing—making transparency at the retailer, as well as with online fulfillment, a necessity to effectively manage promotional trade spend—an enhancement to the pricing and promotions process, Datasembly noted.
“It’s absolutely essential to provide our customers with current, comprehensive data so they can make the best decisions, particularly when it comes to launching TPR promotions monitoring,” said Amy Fitzgerald, SVP strategy at Numerator, in a statement. “We are pleased to partner with Datasembly, and together our TPR solution will help brands stay ahead of the market, uncover shifting promotional tactics and insights, and maximize sales lift.”
TPR is often the biggest part of a promotional trade spend, and the lack of visibility, transparency and delay reporting into its results can hinder sales and marketing efforts, said Chicago-based Numerator, which aims to leverage online retail prices to report on TPR promotions so businesses can efficiently monitor and analyze the promotions influencing shopper behavior across the competitive landscape in real time.
“Datasembly continues to grow based on our commitment to our customers, employees, and to providing every price of every product in every store, everywhere,” Reich said in a release. “Partnering with Numerator to unlock even more actionable insights like TPR promotions is another example of how our data continues to help CPGs and retailers improve strategic decision-making capabilities and increase revenue.”