Toronto -- To help increase profitability, Hudson’s Bay Company (HBC) launched a promotion optimization initiative in Canada to improve the ROI of its flyers, or newspaper ads. HBC worked with Saferock to develop the solution, which uses sophisticated analytics to analyze millions of records each week.
This Big Data solution calculates the incremental profits and sales resulting from each additional dollar of investment. The secret to success lies in the advanced statistical algorithms from Saferock that accurately estimate baseline sales and the ROI due to the current promotion. Results are then delivered to merchandising, marketing, and company executives in near-real time.
“Hudson’s Bay and the Saferock team collaborated to develop a tool that provides virtually real time analytics on flyer productivity,” said Ashley Whicher, VP of marketing at HBC. “The promotional optimization tool developed by Saferock has enabled our teams to measure the efficiency and productivity of the marketing investment on a weekly basis.”
Chain Store Age’s interview with Whicher appears in its October edition.
“We shed light on promo performance for every SKU and category,” said Shah Karim, CEO of Saferock. “Sales IQ keeps everyone aligned and on the same page. Our goal is to turn internal management meetings from debates into enlightened discussions, and this is what is happening.”