Apparel Magazine reported on DynamicAction's new Affinities capabilities and how the product can help retailers move away from margin-eating promotions and towards strategies that protect profit.
Key excerpt: "With Affinities, DynamicAction helps retailers change the mindset of discount-addicted consumers by creating a path to offer associated and desired products and brands at full price within the same purchase order.
The Affinities feature allows merchandisers to seamlessly identify multiple product correlations and product trends to discover which combination of products, promotions and customer profiles most frequently drive purchases and pinpoint key opportunities to optimize their merchandising strategies. By connecting these data points, retail merchandisers can more accurately predict sales trends and increase basket size and profitability.
'The thirst for promotions is engrained in the consumer psyche; however, retailers that are able to thoughtfully place the right items in the right promotions to the right customer segments stand a better chance of generating higher, more profitable order values,' said Brian Tomz, COO, DynamicAction."
Read the full article here.