LONDON–(BUSINESS WIRE)–Mar 5, 2020–
Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its recent success story that sheds light on how FMCG retailers can analyze the factors impacting product cannibalization in the FMCG sector using a time series cannibalization modeling approach.
The use of advanced analytics frameworks can empower FMCG retailers to drive innovation and sales across product categories. Wonder how? Request a FREE proposal for detailed insights on the benefits of our FMCG analytics solutions portfolio.
In today’s complex business scenario, a major challenge that haunts FMCG retailers revolves around the need to deploy a product cannibalization measurement framework. Given the complexities, product cannibalization should be ideally measured before launch in order to analyze the impact of bringing a product to the market. By using a product cannibalization measurement framework FMCG retailers will be able to better analyze data and understand the benefits that they can obtain from a certain product portfolio. Similarly, a client- a leading FMCG retailer based out of the United States faced a sharp decline in sales due to product cannibalization. They were looking to leverage analytics to gauge demand transference within product categories by factoring in sales cannibalization to reduce out of stock issues and drive ROI from different product portfolios.
Talk to our analytics expertsto learn how advanced analytics techniques can help you gauge the impact of a product launch on the existing product portfolio.
According to Quantzig’s FMCG analytics experts, “In today’s complex FMCG sector, product cannibalization is a necessary evil. As such a proactive, iterative approach to gauge product cannibalization throughout the product innovation process can help companies understand potential cannibalization risks and develop strategies to mitigate risks.”
The Business Problem: The drastic decline in sales due to the lack of appropriate product categorization and the lack of a product cannibalization framework.
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The Solution Offered: The solutions offered focused on tweaking the sales execution levers such as pricing, promotion planning, and distribution to maximize the ROI generated across the portfolio.
The devised product cannibalization measurement framework also helped the client to:
- Devise a roadmap to gauge demand transference within product portfolios
- Design data-driven pricing and promotional strategies to drive sales
- Estimate sales impact results with bounce-back rates
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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Copyright Business Wire 2020.
PUB: 03/05/2020 12:25 PM/DISC: 03/05/2020 12:25 PM
Copyright Business Wire 2020.