SAN MATEO, Calif., June 21 /PRNewswire-FirstCall/ -- DemandTec, Inc. (Nasdaq: DMAN), a leading provider of on-demand optimization solutions for retailers and consumer products companies, today announced that Target Corporation (NYSE: TGT), the second largest general merchandise retailer in the United States, has selected DemandTec Shopper Insights™ to complete its planned deployment of DemandTec's entire nextGEN solution suite. Target deploys DemandTec solutions to help make more localized merchandising and marketing decisions that improve the relevance and value of Target's offerings for their guests.
As the latest development in DemandTec's nextGEN strategy, DemandTec Shopper Insights includes Shopper Insight-on-DemandTec, a software service that provides both retailers and consumer products companies with a breakdown of sales trends by penetration and buy-rate, shopping trip statistics, shopper segment analytics, and more.
Using guest insight dashboards and insights embedded directly within the planning workflows of DemandTec's other software services, Target and its trading partners will be able to quickly identify new opportunities to reach specific guest segments with more tailored assortments, promotions, and pricing.
"DemandTec has been a strategic partner of Target and we value their industry expertise and innovative solutions. We look forward to expanding our relationship into shopper insights and additional nextGEN capabilities," said Shelley Hyytinen, Vice President of Merchandising Process and System Development for Target.
Target began working with DemandTec in 2007 and has now extended its subscription to software services included in DemandTec Lifecycle Price Optimization™, DemandTec Assortment & Space™, and DemandTec End-to-End Promotion Management™. In addition to the guest insights and vendor collaboration provided by the Shopper Insight-on-DemandTec software service, DemandTec Shopper Insights also includes DemandTec's nextGEN modeling services, enabling Target to understand and influence the impact of merchandising decisions at the guest segment level.
"We are honored to have one of the world's most innovative retail leaders embracing our full suite of nextGEN solutions in order to help define and execute their guest-centric strategy," said Dan Fishback, President and Chief Executive Officer of DemandTec. "We firmly believe that by deploying our complete suite of services and enabling collaboration with suppliers, a retailer creates a whole that is greater than the sum of the parts. And Target's continued confidence in DemandTec as its 'insights and optimization platform' is a great testimony to that value proposition."
All DemandTec software services are delivered through the DemandTec TradePoint Network™, the Internet-based platform connecting all DemandTec software services used by retailers and their suppliers to collaborate on pricing, promotion, assortment, and other merchandising and marketing decisions. There are approximately 12,000 retailer and manufacturer end-users on the DemandTec TradePoint Network, who have collaborated on over 3.2 million trade deals to date.
In related news, DemandTec also announced today that Rob Culin, a former dunnhumby executive, has joined DemandTec as Vice President of Shopper Insights and Strategic Programs to take the leadership role in developing DemandTec's consulting services to leverage insights, software, and consulting services to create collaborative programs between retailers and consumer products manufacturers.
About Target Corporation
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,740 stores in 49 states nationwide and at Target.com. Target is committed to providing a fun and convenient shopping experience with access to unique and highly differentiated products at affordable prices. Since 1946, the corporation has given 5 percent of its income through community grants and programs like Take Charge of Education. Today, that giving equals more than $3 million a week.
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 195 leading retailers and consumer products manufacturers such as Ahold USA, Best Buy, ConAgra Foods, Delhaize America, General Mills, H-E-B Grocery Co., Hormel Foods, Monoprix, PETCO, Safeway, Sara Lee, The Home Depot, Wal-Mart Stores and WH Smith. Connected via the DemandTec TradePoint Network™, DemandTec customers have collaborated online with over 3.2 million trade deals.
DemandTec Safe Harbor
This press release contains forward-looking statements regarding DemandTec's expectations, hopes, plans, intentions or strategies, including statements about the benefits of DemandTec's 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 Shopper Insights, DemandTec Lifecycle Price Optimization, DemandTec Assortment & Space, DemandTec End-to-End Promotion Management and DemandTec TradePoint Network are trademarks of DemandTec, Inc. All other trademarks are the property of their respective owners.
SOURCE DemandTec, Inc.