ToolsGroup

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Retail Promotions Don’t Have to Fail: Changing Your Approach to Ensure Promotions Succeed

ToolsGroup

Promotions are a critical part of the retail strategy, yet many fail to deliver the expected results. The key to success lies not just in the execution but in a strategic approach to planning, optimizing, and learning from each promotion. Over the last several weeks, we’ve explored discounting in a promo-saturated market, highlighted the importance of aligning pricing and discounting strategies, unraveled the complexities of markdowns versus promotions, and delved into the role of allocati

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ToolsGroup Strengthens Leadership Team with Eric Austvold as Chief Revenue Officer (CRO)

ToolsGroup

Driving Expansion and Enhancing Market Presence are Key Objectives BOSTON / BARCELONA – June 6, 2024 – ToolsGroup, a global leader in retail and supply chain planning and optimization software, is excited to announce a key leadership change aimed at driving growth across all regions and product lines. Eric Austvold has joined ToolsGroup as Chief Revenue Officer (CRO), bringing extensive experience from leadership roles in software companies.

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Why Retail Promotions Fail: You Forgot to Set the Right Goals for Retail Discounts

ToolsGroup

In the bustling world of retail, promotions are often the heartbeat of market strategy, vital for drawing in customers, boosting sales and elevating brand presence. Yet, despite best-laid plans, many of these promotions miss the mark. And it’s often because they’re aimed at the wrong targets. Over the last several weeks, we’ve peeled back the layers of discounting in a promo-saturated market, highlighted the importance of aligning pricing and discounting strategies, unraveled t

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Avoiding the Pitfalls of Silos with Decision-Centric Planning

ToolsGroup

You purchase your ticket for a symphony, get yourself dressed up, arrive early at the theater, read the concert program and sit comfortably in your seat awaiting an evening of musical delight. But when the musicians start to perform, you notice strings, brass and percussion sections are each playing their own pieces of music, completely unaware of what the others are doing.

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Why Data Latency is a Real Problem in Decision-Centric Planning

ToolsGroup

In today’s hyper-competitive market, where supply chains need to be agile and responsive, even a minor delay in data can have significant repercussions. Companies are finding that data latency isn’t just a technical hiccup but a major obstacle to effective decision-making. As we continue our journey through decision-centric planning, having explored its potential to unlock supply chain success , addressed real-world challenges , and discussed the internal shifts necessary for its imp

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The Problem with Retail Promotions: Diminishing Returns of Discounting in a Promo-Saturated Market

ToolsGroup

Imagine strolling into your favorite store, only to find yourself in a sea of “SALE!” signs and “50% OFF!” banners. It’s a common scenario. Retailers rely heavily on promotions, which can account for between 10% and 45% of their total revenues, according to research from Boston Consulting Group. In today’s dynamic retail landscape, promotions are undeniably a potent tool for driving sales and customer engagement.

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Decision-Centric Planning: Unlocking Supply Chain Success

ToolsGroup

The business landscape is constantly evolving in today’s world, and supply chain management stands as a cornerstone of operational efficiency, customer satisfaction and overall business success. In this time of continuous change, forward looking leaders are starting to look for innovative and evolutionary approaches to thrive in this uncertainty, a topic we covered recently in our blog about the antifragile supply chain.