Leading sporting and lifestyle footwear and apparel retailer in Central and Eastern Europe deploys SaaS-based JDA Luminate Clearance Price to automate pricing decision-making to expertly meet shoppers’ price expectations

Marketing Investment Group (MIG), a leading European sporting and lifestyle footwear and apparel retailer, recognizes the importance of dynamically and profitably anticipating customer demand with the best prices possible. The organization wants a AI-based strategy instead of a manual ‘gut feeling’ approach. That’s why after a thorough review of software vendors, MIG has selected Blue Yonder, a JDA company to deploy SaaS-based JDA Luminate Clearance Price, part of the JDA® LuminateTM Retail family. Based on Blue Yonder’s leading artificial intelligence (AI) technology, MIG will be able to meet shoppers’ price expectations and tighten product lifecycles in an ever-changing market.

MIG operates multiple store banners addressing various customer need across more than 350 brick and mortar locations and over 10 e-commerce stores under the following brands: Sizeer, 50 style, Timberland, Symbiosis, Umbro and Up8. MIG with its distribution structure is present in the following countries: Poland, Germany, Lithuania, Latvia, Czech Republic, Slovakia, Romania and Hungary and Austria. The company is the sole distributor of Timberland, New Era, O’Neill, Lotto, Umbro, Confront, Feewear and the Lacoste footwear line in Poland.

Replacing its manual, Excel-based system with Blue Yonder’s powerful AI-based Luminate Clearance Price solution will enable MIG to adapt to evolving customer preferences while balancing profitability. Luminate Clearance Price will allow MIG to maximize margins and increase efficiency by automatically setting revenue- and profit-maximizing prices for different stages in each of its products’ lifecycles.

“With Blue Yonder technology, we can take our pricing strategy digital with a powerful AI-based solution that will essentially learn the interactions between price and demand changes in all of our stores, giving us real-time insight we never had before so we can make actionable decisions,” said Krzysztof Nitsch, chief operating officer, MIG. “Now, our pricing strategy will be guided by true data science, enabling us to make the most informed decisions when optimizing prices across all of our stores.”

Luminate Clearance Price learns the interactions between price and demand changes for each store. The AI-based solution provides a complete picture of demand by considering both the costs and impacts of every price change with the ability to analyze consumer behaviors. With an overhauled pricing strategy, MIG will see increased revenue, margins and sell through, and decreased markdown levels for inventory across all stores — all while managing local and global pricing strategies in view of local demand, elasticity and competitor prices.

“Achieving right price at the right time in the right store is a powerful combination for success, yet is difficult to achieve with traditional and outdated pricing solutions – or worse, a gut feeling approach – leaving retailers with the pressure to remain competitive in a highly dynamic marketplace,” said Uwe Weiss, chief executive officer, Blue Yonder. “MIG will now be able to expertly anticipate customer demand with a pricing strategy that mirrors both sales strategy and customer demand with the power of AI, delivering company growth and supporting digital transformation strategy.”

Additional Resources:

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About Blue Yonder

Blue Yonder, a JDA company, is a leading provider of artificial intelligence (AI) and machine learning (ML) solutions that enable retailers, consumer products and other companies to intelligently transform their operations and make more profitable, automated business decisions that deliver higher profits and optimized customer experiences.

With AI/ML learnings embedded into their core supply chain and merchandising processes, companies can respond quicker to dynamic market conditions and customer preferences, resulting in increased revenues and margins.

Developed by one of the largest teams of PhD-level data scientists dedicated to retail and the supply chain, Blue Yonder’s AI/ML solutions deliver 600 million intelligent, automated decisions a day.

Blue Yonder was founded in 2008 in Karlsruhe, Germany, by former CERN scientist Professor Michael Feindt and acquired by JDA Software in 2018. The company has received numerous awards, including the Experton Big Data Leader Award 2016, the BT Retail Week Technology Award, the IGD Award 2017 for Supply Chain Innovation.

Blue Yonder provides its solutions through Microsoft Azure and was named one of Microsoft’s retail partners of the year in 2018.

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Blog : https://blog.blueyonder.ai

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“JDA” is a trademark or registered trademark of JDA Software Group, Inc. Any trade, product or service name referenced in this document using the name “JDA” is a trademark and/or property of JDA Software Group, Inc.

 

JDA Software, Inc.
15059 N Scottsdale Rd, Ste 400
Scottsdale, AZ 85254

 

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