Pricing & Promotions
Maximize the effectiveness of price changes and marketing activities that directly effect your bottom line.
Regular Pricing
Set the Right Price For Each Item. RPE software measures the impact of pricing on consumer demand.
Churchill’s Regular Price Elasticity ™ (RPE) software uses AI Machine Learning technology to measure the impacts on demand of different regular price changes. It addresses several key questions that are often asked when determining the regular price of an item:
- How will a change in regular price affect my goals in revenue, margin, and inventory movement (units)?
- What is the optimal price for the item in order to maximize demand and meet my goals?
- Do my pricing decisions adhere to my company's pricing rules and cadence?
Churchill has enhanced many different pricing applications throughout the retail landscape and has partnered with several price planning applications over the years. Whether you are looking for a detailed analysis of your current pricing or you need to improve the quality of your pricing application, Churchill Systems can provide cutting-edge AI technology to maximize your goals.
Promotional Demand
Churchill’s Promotional Demand Forecaster ™ (PDF) is built for the needs of today’s complex retail environment. Promotional activities such as price discount, print advertising, store displays, social media campaigns, etc. all play a role in driving consumers to buy. PDF accurately predicts the impact of these promotional activities on consumer demand. Demand Forecasts can be produced at any level (item, store, day or week).
This is a critical application for inventory management, pricing experts, merchandise planning and more. Gone are the days of manual forecasts based on LY sales and a trend. For over 30 years, Churchill Systems has applied AI Machine Learning to real-world Retail Environments with incredible results. And with Churchill PDF, practical AI demand forecasting is within your reach.
Cannibalization/ Halo
Effectively predict the impact of demand on related items, as well as items within a category.
The decisions Retailers make when managing various categories have a direct impact on the consumer demand. Decisions in pricing, promotions, assortment planning and more will affect demand for the items involved as well as related items.
Therefore, Retailer planners must ask themselves:
- How will a change to one item impact the demand for related items?
- Will my promotion or markdown strategy achieve my goals for the Category?
- Is my Assortment in line with my demand? Too many lines? What if I add a new style?
Churchill’s Cannibalization Demand Forecaster ™ (CANN) predicts the indirect impact of demand on items caused by various activities:
- Promotions
- Regular and Markdown Price Changes
- Assortment within a Category (Depth and Range)
- The Halo Effect
Markdown Price Optimization
Churchill’s Markdown Price Optimization software solution combines the strength of two proven Churchill products:
– Short Life Cycle Demand Forecaster™ (for sell-through forecasting)
– Price & Promotional Demand Forecaster™ (for price lift forecasting).
Recommended pricing action include:
- When to take markdowns
- The number of markdown levels (stages) that are best for the category
- The specific price discount that best achieves the business objectives (revenue, clear inventory, etc.)
Clearance & Liquidation
Leverage Churchill's AI to determine the best markdown price reductions based on consumer demand.
Churchill’s Clearance Price Elasticity™ (CPE) software allows retailers to use advanced AI technology to set clearance prices. Proprietary Machine Learning software measures the impact of clearance price changes on the consumer demand for an item, by store.
- Includes “What-If” price elasticity analysis
- Generates detailed category, line & item markdowns
- Supports omnichannel pricing differences
- Needs no internal data engineering required
- Integrates seamlessly with ERP & other retail planning software
Take the guesswork out of pricing and maximize your gross margins with Churchill AI!
