dunnhumby Rolls Out First AI Competitive Threat Evaluator Tool for Retail
24 Junio 2024 - 7:47AM
Business Wire
Web-based tool merges dunnhumby’s Retailer
Preference Index (RPI) data with Placer.ai’s geolocation data to
maintain up-to-date, comprehensive, and actionable knowledge about
a retailer’s competitive threat
Today dunnhumby announced the launch of the Competitive Threat
Evaluator, the only tool that swiftly diagnoses the intensity and
nature of a retailer’s competitive threat and provides actionable
knowledge about competitors and their attractiveness to shoppers at
the chain, geographic, and store levels. This web-based tool
combines geo-location data from Placer.ai—covering cross-shopping
behavior, proximity to competitors, and the density of competitors
within a store's trade area—with customer perception data on price,
promotions, assortment, in-store and online store experience from
dunnhumby’s annual Retailer Preference Index (RPI).
“Grocery retailers often manage hundreds, if not thousands of
stores, across diverse geographies and different competitive
landscapes. Before today, there wasn’t a single dataset that
provided a holistic understanding of both the intensity and nature
of each competitor a retailer faced,” said Matt O’Grady,
dunnhumby’s President of the Americas. “But with dunnhumby’s
Competitive Threat Evaluator, retailers have a single dataset that
provides invaluable shopper insights and store preferences to make
sure they stay on top of their competitive threats.”
Determining Top Competitive Threats
With the Competitive Threat Evaluator, retailers will be able to
determine:
- Which retail chains are a retailer’s biggest competitive
threats, in the short and long-term.
- Which retailer’s stores are the most and least threatened by
competition.
- Which retailer’s stores are facing the biggest threat from
competitors that are strong on price, promotions, rewards,
assortment, experience, quality, speed, and convenience of brick
and mortar, and digital channels.
By understanding the nature of their competition, retailers can
prioritize which levers to address when developing overall banner,
pricing, and assortment strategies. This insight will allow them to
optimize resource allocation across their chain, focusing on stores
facing the greatest competitive challenges. Additionally, it can
aid retailers in making informed decisions about where to build new
stores, as well as bring retailers up to speed quickly on new
markets they have entered.
Potential Use Cases Span Grocer’s Business Units
The Competitive Threat Evaluator provides benefits to retailers
across business units:
- Strategy and Insights. Prioritize which competitors to
respond to when setting overall banner strategy. Identify stores
and regions to prioritize growing competition. Access competitive
and cross-shop diagnostics, to help explain why certain stores may
be under or over performing.
- Store Operations. Prioritize stores for remodeling and
identify current and future locations that need enhanced speed of
shopping, increased convenience, improved online fulfillment, and
better digital shopping experiences. Provide store managers with
comprehensive insights into the local competitive threats they
encounter.
- Marketing. Prioritize markets and neighborhoods for
increased marketing support, and tailor marketing messaging to
effectively counteract competitors.
- Assortment. Identify which stores may need to lead with
higher quality assortment.
- Pricing and Promotions. Determine which stores should
adopt a more competitive pricing strategy and identify the
appropriate pricing approach for each store, including which
competitors to benchmark against.
Easy to use Dashboards Highlight Insights
Accessed through an easy-to-use dashboard, the Competitive
Threat Evaluator allows retailers to quickly identify and extract
insights through three separate user views:
- Banner Level Insights. This dashboard view ranks the
retailer’s competitors by intensity and nature of competitive
threat, combining RPI and Placer.ai data.
- Store Level Insights. With this dashboard view, a
retailer gets a complete ranking of each store in their chain, as
well as store level diagnostics.
- Store-Level Threat Maps. This dashboard view provides
additional functionality that helps a retailer visualize the
competitor threat, banner by banner.
Early access to the Competitive Threat Evaluator is now
available to grocery retailers, with other retail sectors to follow
soon. For more information and to schedule a demo, visit
https://www.go.dunnhumby.com/competitive-threat-evaluator
About dunnhumby
dunnhumby is the global leader in Customer Data Science,
empowering businesses everywhere to compete and thrive in the
modern data-driven economy. We always put the Customer First.
Our mission: to enable businesses to grow and reimagine
themselves by becoming advocates and champions for their Customers.
With deep heritage and expertise in retail – one of the world’s
most competitive markets, with a deluge of multi-dimensional data –
dunnhumby today enables businesses all over the world, across
industries, to be Customer First.
The dunnhumby Customer Data Science Platform is our unique mix
of technology, software, and consulting, enabling businesses to
increase revenue and profits by delivering exceptional experiences
for their Customers – in-store, offline and online. dunnhumby
employs over 2,200 experts in offices throughout Europe, Asia,
Africa, and the Americas working for transformative, iconic brands
such as Tesco, Coca-Cola, Meijer, Procter & Gamble and
Raley’s.
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