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General merchandise retailer Target Corp. plans to deploy a new shopper insights solution to help make more localized merchandising and marketing decisions that will improve the relevance and value of offerings for shoppers.
The Minneapolis-based retailer is working with DemandTec Shopper Insights to complete its planned deployment of the vendor’s entire nextGEN solution suite. The latest development in San Mateo, Calif.-based 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, and shopper segment analytics.
“DemandTec has been a strategic partner of Target, and we value their industry expertise and innovative solutions,” said Shelley Hyytinen, VP of merchandising process and system development for Target, which operates 1,740 stores in 49 states nationwide and at Target.com..
With guest insight dashboards and insights embedded directly within the planning workflows of DemandTec’s other software services, Target and its trading partners use the system to identify new opportunities to reach specific guest segments with more tailored assortments, promotions and pricing. DemandTec Shopper Insights also include the company’s nextGEN modeling services, which Target will use to understand and influence the impact of merchandising decisions at the guest segment level.
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.
All DemandTec software services are delivered through the DemandTec TradePoint Network, an Internet-based platform that connects all DemandTec software services used by retailers and their suppliers to collaborate on pricing, promotion, assortment, and other merchandising and marketing decisions. There are about 12,000 retailer and manufacturer end-users on the DemandTec TradePoint Network, who have collaborated on over 3.2 million trade deals to date.
In related news, Rob Culin, a former dunnhumby executive, has joined DemandTec as VP of shopper insights and strategic programs, in which capacity he will take a leadership role in leveraging the company’s insights, software and consulting services to create collaborative programs between retailers and consumer products manufacturers.