Costcutter announces partnership with predictive analytics experts
Data Revolution to help retailers manage costs and maximise sales
Costcutter Supermarkets Group (CSG) has announced a partnership with data experts Data Revolution, part of the Talysis Group, that will enable the symbol group to provide independent retailers with vital insights. It will be powered by predictive analytics, on shopper trends, pricing, range and promotions, to help them manage costs and maximise sales.
Working in partnership with Big Data management experts Data Revolution, CSG began a trial of a predictive analytics portal across 100 independent stores in the South of England late last year. Following the success with trial stores the partnership will seek to support more retailers across the symbol groups estate.
David Morris, CSG IT Director, said: “Our trials, initially in stores who operate our CPOS system, took place before the COVID crisis and the results were outstanding, with retailers reporting increased sales, improved margins and achieving higher rebates, as a direct result of the data they could access.
“We’ve used the lockdown period to focus on analysing those results and refining the offer, to give our retailers the best possible insights and advice. Predicting what will be their best selling lines, what ranges they can look to rationalise, what promotions deliver the best results and what ordering and pricing decisions will maximise their sales and help manage costs. A dedicated portal will be introduced to retailers through their BDM in future, who will provide detailed guidance and recommendations to optimise the benefits.
“It will add projected performance data on shopper behaviour to the rich insights we already provide retailers on their customers, through our Shopper First programme. Retailers will be able to access segmented data, tailored to their store type, location and demographics.”
Ed Roberts, Managing Director at Data Revolution, said: “We have worked with CSG for over 15 months, giving them data and insights to guide operational efficiencies and optimise retail opportunities. We’re delighted with the trial results for our predictive analytics portal and look forward to sharing the benefits with all Costcutter retailers as the programme rolls out.”
Plans for CSG’s predictive analytics portal will see each retailer provided with all their relevant data, actionable insights and recommendations in one place. Data will be refreshed and updated weekly and will enable the Group’s BDM and field-based teams to provide additional expert guidance to each store owner based on the data.
Next level predictive analytics
Dave Morris added: “We’re taking our data and insights focus to the next level using predictive analytics to further support our retailers in delivering the right offer and range for their shoppers.
“Reaping the rewards of the expertise and agility of the Data Revolution team in AI-enabled analysis and their extensive experience in retail, we will be generating tangible insights which our trading and marketing teams can use to help retailers continue to grow footfall and sales, delivering on our mission to be the best loved and most shopped symbol group.”