San Mateo, CA: DemandTec Inc. has announced that Target Corp., the second largest general merchandise retailer in the United States, has selected DemandTec Shopper Insights to complete its planned deployment of DemandTec's entire nextGEN solution suite.
Target deploys DemandTec solutions to help make more localized merchandising and marketing decisions that improve the relevance and value of Target's offerings for their guests. As the latest development in DemandTec's nextGEN strategy, DemandTec Shopper Insights includes Shopper Insight-on-DemandTec, a software service that provides both retailers and consumer products companies with a breakdown of sales trends by penetration and buy-rate, shopping trip statistics, shopper segment analytics and more. Using guest insight dashboards and insights embedded directly within the planning workflows of DemandTec's other software services, Target and its trading partners will be able to quickly identify new opportunities to reach specific guest segments with more tailored assortments, promotions and pricing.
“DemandTec has been a strategic partner of Target and we value their industry expertise and innovative solutions. We look forward to expanding our relationship into shopper insights and additional nextGEN capabilities,” says Shelley Hyytinen, vice president of merchandising process and system development for Target.
Target began working with DemandTec in 2007 and has now extended its subscription to software services included in DemandTec Lifecycle Price Optimization, DemandTec Assortment & Space, and DemandTec End-to-End Promotion Management. In addition to the guest insights and vendor collaboration provided by the Shopper Insight-on-DemandTec software service, DemandTec Shopper Insights also includes DemandTec's nextGEN modeling services, enabling Target to understand and influence the impact of merchandising decisions at the guest segment level.
“We are honored to have one of the world's most innovative retail leaders embracing our full suite of nextGEN solutions in order to help define and execute their guest-centric strategy,” says Dan Fishback, president and CEO of DemandTec. “We firmly believe that by deploying our complete suite of services and enabling collaboration with suppliers, a retailer creates a whole that is greater than the sum of the parts. And Target's continued confidence in DemandTec as its „insights and optimization platform? is a great testimony to that value proposition.”
All DemandTec software services are delivered through the DemandTec TradePoint Network, the Internet-based platform connecting all DemandTec software services used by retailers and their suppliers to collaborate on pricing, promotion, assortment, and other merchandising and marketing decisions. There are approximately 12,000 retailer and manufacturer end-users on the DemandTec TradePoint Network, who have collaborated on over 3.2 million trade deals to date.
