The retail industry is among the largest, most consumer-centric in the world. While the fundamental business of buying and selling goods has not changed over the millennia, the industry is at the forefront of disruption. Amid evermore increasing competition, having transparency and profitable insight is crucial. buynomics provides exactly that.
Key challenges retailers face
Retailers compete fiercely for shoppers. In doing so, they optimize a complex array of things including shelf space, to foot traffic, and loyalty. Trade promotions are an essential part of these efforts to compete. And while manufacturers carry a large amount of their cost, defining the right products and prices for promotions is crucial and challenging for retailers.
As retail is one of the lowest margin industries worldwide, every piece of extra profit is welcomed.
Consumers make their decisions less spontaneous and more considerate. The information available for purchasing decisions is increasing and consumers use these, they spend an increasing amount of time researching their purchases.
Find out how buynomics helps retailers tackle these challenges
Reliably predict consumer behavior to make better and more profitable price decisions
Evidence-based portfolio optimization powered by our proprietary Virtual Customer technology
Trade Term Negotiations
Create win-win-situations powered by our proprietary Virtual Customer technology
Key product features
buynomics' Virtual Customer technology offers various features for retail managers:
Optimize your channels and trade terms with bespoke offerings that best fit the consumers’ preferences.
Create and compare an infinite number of scenarios considering price changes, portfolio changes, promotions or any number of combinations thereof to determine your best strategic course of action.
Simulate competitors’ actions and reactions to determine the effect on your own portfolio as well as the best strategic response.
Optimize core KPIs like profit, units, volume and revenue in a few clicks.
Gain deep analytical insights including elasticity- and demand curves for all products.
How your business benefits with buynomics
Maximize profits across your portfolio
Faster decision-making – get insights in minutes instead of months
With R² up to >95% we are up to 10 times more accurate than legacy solutions
Want to learn more? Check out our buynomics insights!