Across its large Colombian food retail business, Grupo Éxito enhances shopper and competitive responsiveness with leading price science
BOSTON—November 11, 2020 – With more than 550 stores and 36,000 team members across Colombia, South American food retailer Grupo Éxito’s core values include a “Customer First” model, agility and innovation. Through its recently renewed relationship with DemandTec, which extends Grupo Éxito’s DemandTec Price Optimization subscription for three years, Grupo Éxito is positioned to continuing to deliver on all these values.
With DemandTec price optimization science such as elasticity coefficients, Grupo Éxito has been able to deliver business impact by identifying shopper behavior trends to generate engaging price recommendations. The company also has benefited from defining product roles by zone and division using DemandTec capabilities.
Grupo Éxito Technology Director Jorge Vallejo noted, “Our multi-year relationship with DemandTec exemplifies how science-based optimization enables us to deliver prices that are more relevant for customers. With this renewal, we look forward to continuing to benefit from DemandTec throughout COVID and beyond.”
“We’re pleased to continue contributing to the success of an innovative retailer like Grupo Éxito, a valued customer since 2008. We value the strong ongoing collaboration with them to identify and deliver on the evolving needs of retailers,” said DemandTec President Cheryl Sullivan. “We remain committed to giving retailers leading data science-based capabilities to enable them to keep pace with highly volatile shopper, competitive and market conditions during the pandemic and into the future.”
About Grupo Éxito
Grupo Éxito is the retail leader in Colombia with an omni-channel strategy that translates into nearly 550 stores, and direct and e-commerce channels, such as mobile, out of home, digital catalogs and last-mile service. It is one of the most advanced retailers for its innovation, digital transformation, experiences and sustainability. In addition to Colombia, Grupo Éxito is present in Argentina and Uruguay with a wide range of products and services ranging from fuel, travel, appliances and furniture, and various store formats. For more information, visit: https://www.grupoexito.com.co/.
About DemandTec by Acoustic
DemandTec, an independent business unit of Acoustic, is committed to taking AI pricing to new heights. With deep and commanding worldwide retail pricing domain knowledge and experience, DemandTec enables retailers and CPG partners to deliver optimal pricing, promotions, and markdowns to thrive in today’s hyper-competitive retail landscape. DemandTec addresses retail pricing challenges today and into the future with relentless focus, commitment and ongoing investment. For more information, visit www.demandtec.com or follow us on LinkedIn or Twitter.
Acoustic is an independent marketing cloud with the open platform needed for success in a dynamic world. We’re reimagining marketing technology by lessening the burdens of repetitive tasks and equipping marketers with powerful technology that is simple and easy to use. We give marketers more time to do what really matters—to think bigger and put themselves back into the work. We help marketers aim higher, bringing humanity back into marketing. Acoustic serves an international client base of more than 3,500 brands, including Fortune 500 companies, providing digital marketing, marketing analytics, content management, personalization, mobile marketing, and marketing automation solutions. For more information, visit www.acoustic.com.