Impact Analytics PromoSmart

PromoSmart is an AI-led trade promotion planning and optimization solution offered by Impact Analytics. According to the vendor, PromoSmart is designed to assist companies of all sizes, from small businesses to large enterprises, in optimizing pricing, promotions, and markdowns to achieve their business objectives. It is a versatile tool used by retailers, fashion brands, grocery chains, food retailers, and CPG companies.

Key Features

PriceSmart Advantage: According to the vendor, PromoSmart leverages AI to drive decisions on initial, promotional, markdown, and clearance pricing. It offers price optimization software to optimize pricing, promotions, and end-of-life markdowns. The vendor claims that it ensures real-time optimized prices for every product, tailored by region, channel, customer, and more through Pricing and promotion planning software.

Clearance Strategy: The vendor states that PromoSmart provides automated markdown optimization software to remove merchant and planner emotion from the markdown equation. It uses seasonal timing and sales curves, price elasticity, price-points/markdown breaks, and frequency of markdowns to develop an optimized markdown solution. The vendor claims that it allows users to tailor the output to fit the markdown budget with scenario planning.

Outlet Pricing and Secondary Channels: According to the vendor, PromoSmart helps businesses determine the right timing for retiring products and moving them into secondary channels. It optimizes initial pricing, discounts, and markdowns over the lifecycle of the product using machine learning and artificial intelligence.

Cannibalization: The vendor claims that PromoSmart automatically identifies cannibalized items and measures their impact on past campaigns. It incorporates cannibalization analysis into future campaign forecasts, helping businesses understand the impact of promotions and avoid sales cannibalization.

Agile Forecasting: According to the vendor, PromoSmart offers dynamic forecasting that accounts for historical data and current trends in consumer behavior. This feature aims to provide more accurate predictions about future sales at each store location.

Personalization: PromoSmart allows users to optimize dynamic pricing strategies by store, store cluster, channel, region, and customer segments. According to the vendor, it enables users to cluster/group stores based on "like locations" for personalized retail price optimization programs.

Test & Control: According to the vendor, PromoSmart enables users to create store and customer level tests using key performance indicators and metrics. It aims to provide actionable insights through retail price optimization software.

Scenario Planning: PromoSmart facilitates modeling various pricing options over specific time periods. According to the vendor, it allows users to immediately quantify the impact of different pricing scenarios.

Business Rules: The vendor claims that PromoSmart allows users to set guardrails to guide promotional and clearance pricing. Users can define product retirement strategy, min/max discount %, price endings, SKU/class/style level limitations, and more.

Tailored Markdowns: According to the vendor, PromoSmart optimizes stock clearance with advanced analytics and markdown optimization software. It aims to forecast demand and craft distinct markdown plans for stock clearance.