SAN CARLOS, Calif., June 24, 2008 (PRIME NEWSWIRE) -- DemandTec, Inc. (Nasdaq:DMAN), a leading provider of on-demand optimization solutions for retailers and consumer products manufacturers, today announced the launch of Assortment Optimization, the latest in the company's suite of science-based software services for retailers. DemandTec helps retailers understand their customers' shopping behavior and optimize merchandising and marketing decisions to better target those customers and shape their purchase decisions.
Assortment Optimization is available immediately to help retailers determine which items should be stocked based on the behavior of customers that shop their stores, on factors in the competitive marketplace and on a quantified understanding of whether items are duplicative or truly provide variety and add incremental sales and profit to the category.
The Assortment Optimization software service from DemandTec is based on the demand intelligence and forecasting capabilities of the DemandTec Platform(tm) and the analytics and advanced capabilities of RichMix(tm), the market-proven assortment planning product developed and marketed by Cannondale Associates for the last twelve years.
DemandTec acquired from Cannondale Associates the right to integrate the RichMix product with the DemandTec Platform, further enhance the new product with additional functionality and exclusively market the resulting Assortment Optimization software service to the retail industry.
"Based on our analysis, we believe Cannondale's RichMix is becoming the industry standard for assortment planning used by consumer products companies in collaboration with retailers," said Craig Silverman, Vice President of Strategy at DemandTec. "When evaluating approaches to bring an assortment optimization product to the retail market, we determined that our customers would benefit most from a new offering that combines DemandTec science with this proven, best-in-class product."
"DemandTec's expansion into assortment optimization based on a single, centralized Retail Demand Intelligence engine illustrates what we advocate as the model for how retailers can best leverage investments in RDI," said Scott Langdoc, Vice President, Research & Business Leader for IDC's Global Retail Insights. "Not only are there operational synergies from centralizing around a common foundation but, more importantly, the maximum benefits are only possible when integrating the analytics that support what are already inherently integrated decisions made by merchants and marketers."
DemandTec now offers retailers a comprehensive suite of advanced analytics and optimization services to integrate pricing, promotion, assortment, space planning, and loyalty marketing. The suite includes:
* DemandTec Lifecycle Price Optimization(tm) -- Integrated software services to optimize and manage pricing for a retailer's entire store including new items, regularly priced items, promoted items, and clearance/markdown items. * DemandTec End-to-End Promotion Management(tm) -- Integrated software and analytical services supporting the complete promotion planning process from vendor collaboration to post-event analysis. * DemandTec Assortment & Space(tm) -- Software services to optimize assortments by cluster and integrate with space management applications to define and automate store-specific planograms. * DemandTec Marketing(tm) -- Analytical services and partner-based services to provide customer segmentation, store clustering, loyalty insights, and one-to-one marketing programs.
"Retailers now finally have an advanced way to plan and optimize their assortments with a science-based understanding of incrementality and transferable demand," said Marc Dietz, Vice President of Marketing at DemandTec. "We have been witnessing the convergence of merchandising and marketing in the retail industry, but only now is a comprehensive solution available for retailers to generate competitive advantage by deploying an analytical, optimization platform coupled with services to optimize pricing, promotions, assortments, space planning, and loyalty marketing."
About DemandTec
DemandTec (Nasdaq:DMAN) enables retailers and consumer products companies to optimize merchandising and marketing decisions, individually or collaboratively, to achieve their sales volume, revenue, and profitability objectives. DemandTec software services utilize DemandTec's science-based software platform to model and understand consumer behavior. DemandTec customers include more than 140 leading retail and consumer products manufacturers such as Advance Auto Parts, Best Buy, Circle K Stores, ConAgra Foods, Delhaize America, Dr Pepper Snapple Group, Giant-Carlisle, H-E-B Grocery Co., Hormel Foods, Monoprix, Safeway, Sara Lee and Tyson Foods. Connected via the DemandTec TradePoint Network(tm), DemandTec customers have collaborated online on more than one million trade deals. For more information, please visit www.demandtec.com.
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DemandTec Safe Harbor
This press release contains forward-looking statements regarding DemandTec's expectations, hopes, plans, intentions or strategies, including statements about product and solution plans and about the effectiveness of DemandTec's solutions used alone or in conjunction with third party solutions. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in DemandTec's documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to DemandTec as of the date hereof, and DemandTec assumes no obligation to update these forward-looking statements.
DemandTec and the DemandTec logo are registered trademarks of DemandTec, Inc. DemandTec Lifecycle Price Optimization, DemandTec End-to-End Promotion Management, DemandTec Assortment & Space, DemandTec Marketing and DemandTec TradePoint Network are trademarks of DemandTec, Inc. All other trademarks are the property of their respective owners.