SAN MATEO, Calif., Sept. 21, 2011 /PRNewswire/ -- DemandTec, Inc. (NASDAQ: DMAN), the collaborative optimization network for retailers and consumer products companies, today announced that Elektra del Milenio, S.A. de C.V., Latin America's leading specialty retailer and financial services company operating more than 1,000 retail stores across Mexico, Guatemala, Honduras, Panama, Peru, Brazil, and Argentina, has selected DemandTec's Assortment Optimization, Decision Analytics, Complete Price Management, and Markdown Optimization software services on the network.
"Our customers rely on DemandTec to drive more profitable decisions, ranging from which items to stock to defining price and promotion activities, all based on a quantified understanding of shopper behavior," said Dan Fishback, President and Chief Executive Officer of DemandTec. "We firmly believe that by leveraging multiple services on the DemandTec network, Elektra del Milenio will benefit from making the most informed merchandising and marketing decisions."
By deploying multiple services on the DemandTec network, Elektra del Milenio will benefit from a comprehensive platform to drive merchandising and marketing planning decisions. Elektra del Milenio will use DemandTec's Assortment Optimization, a component service of DemandTec Assortment & Space™, to make strategic product decisions, including which items should be stocked by store or store cluster based on shopper demand, the competitive environment, and a quantified understanding of the variety and incremental sales of an item and its category.
Using advanced analytics to forecast sales and inventory position by store, DemandTec's Decision Analytics, Complete Price Management, and Markdown Optimization, component services of DemandTec Lifecycle Pricing™ and DemandTec End to End Promotion Management™ solutions, will enable Elektra del Milenio to create and evaluate multiple pricing scenarios from promoted items to markdowns, which will help the company fine-tune pricing before products hit store shelves. DemandTec's software services allow for daily pricing changes to ensure consistency, integrity, and connection between store items across multiple geographies and store formats. Elektra del Milenio will also use DemandTec's Decision Analytics to better understand the incremental lift potential and total store impact of every promotion. DemandTec science takes into account factors such as cross-product cannibalization, halo effects, cross-elasticity, and the impact of base prices and markdown programs.
All DemandTec software and analytical services are delivered on the DemandTec network. DemandTec currently connects more than 400 consumer products companies and retailers, providing common solutions to transact, interact and collaborate on merchandising and marketing activities. During the last 12 months, a community of 16,000 active end-users on DemandTec collaborated on 1.2 million trade deals.
About Elektra del Milenio
Elektra del Milenio is part of Grupo Elektra which is a financial services group and owns some of the leading specialty retailer companies in Latin America. Grupo Elektra operates more than 2,300 points of sale in Mexico, Guatemala, Honduras, Peru, Panama, El Salvador, Argentina and Brazil, and offers financial products and banking through Banco Azteca branches located in Mexico, Panama, Guatemala, Honduras, Peru, Brazil and El Salvador.
Grupo Elektra is part of Grupo Salinas, a group of dynamic, fast growing and technologically advanced companies focused on creating shareholder value, contributing to building the middle class in countries where it operates, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas, Grupo Salinas operates as a forum for the exchange of ideas and best management practices among different management teams of companies that comprise it. These companies include: Azteca Television, Azteca America, Grupo Elektra, Banco Azteca, Afore Azteca, Seguros Azteca and Grupo Iusacell. Each of the Grupo Salinas companies operates independently with its own management, board and shareholders. Grupo Salinas has no equity holdings. The member companies share a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.
DemandTec (NASDAQ:DMAN) connects more than 400 retailers and consumer products companies, providing common solutions to transact, interact, and collaborate on core merchandising and marketing activities. DemandTec's services enable customers to achieve their sales volume, revenue, shopper loyalty, and profitability objectives. DemandTec customers have collaborated on nearly four million trade deals. DemandTec software and analytical services utilize a science-based platform to model and understand consumer behavior. DemandTec customers include leading retailers and consumer products companies such as Ahold USA, Best Buy, ConAgra Foods, Delhaize America, General Mills, H-E-B Grocery Co., The Home Depot, Monoprix, PETCO, Safeway, Sara Lee, Target, Walmart, and WH Smith.
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Karen Cohen, DemandTec, Inc.
Tim Shanahan, DemandTec, Inc.
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