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Beyond the Spreadsheet: Streamlined Price Management
The Convenience Stores industry operates in a highly complex and regulated environment, characterized by thin margins, intense competition, and frequent regulatory changes. To thrive, retailers must navigate a complex web of pricing challenges, including managing promotions, ensuring compliance, and optimizing profitability across all categories, but most importantly Tobacco.
Vistaar's retail tobacco pricing solution provides the tools and insights needed to overcome these challenges, streamline operations, and drive sustainable growth for convenience stores.
Convenience Stores & Tobacco Retailers are facing significant challenges
Vistaar makes navigating them easier
Don’t let The Law hold you back
Strict regulations and ever-changing tax laws create an intricate web of pricing constraints and considerations
Vistaar's robust compliance features ensure adherence to complex regulations, minimizing compliance risks and maximizing profitability
Don’t Stumble, Run your Promotions
With multiple promotion options to analyze and elect by store with complex & constantly changing eligibility conditions by promotion, the problem can get challenging very quickly
Vistaar simplifies promotion management by automating eligibility checks, optimizing promotions for maximum impact, and ensuring accurate price execution
Be Resilient against tough Competition
Dealing with thin profit margins and fierce competition from other retailers for the market share while replying on the accuracy of pricing for buydown reimbursements from suppliers?
Vistaar helps you optimize pricing to improve profit margins, increase market share, and accurately capture supplier reimbursements
Don’t be busy, be strategic
Many businesses still rely on manual updates through spreadsheets without a consistent way to check best practices and execute workflow-based price approvals, leading to errors and delays
These delays can result in missed opportunities and even loss of supplier discounts due to "billbacks" for missed promotional adjustments
The Result? Missed Opportunities, Declining Sales, Market share, and Margins
Given this tough business environment, pricing at the store level for all products is a challenge in itself. Depending on the number of stores, the sheer volume of price points under management can very quickly run into millions. Vistaar's automated pricing workflows streamline processes, reduce errors, and improve efficiency, ultimately driving increased profitability.
Vistaar SmartPricing is your B2B SAAS retail pricing software solution, that can empower you to:
Balance Revenue & Margin
Optimize pricing strategies for both revenue growth and margin protection
Grow Market Share
Implement opportunity-driven pricing strategies to attract new customers and outcompete rivals
Price Optimization
Leverage data-driven insights to set optimal prices for achieving tactical/strategic objectives
Competitive Reference Pricing (CRP)
Configure CRP models based on competitor distance, type, and priority for strategic pricing decisions
Anchor Pricing
Implement anchor product pricing that adheres to relative price constraints and contractual obligations
Direct Supplier Integration
Gain direct access to upcoming promotional data from key suppliers like Altria and RJR
Proactive Price Alerts
Receive system alerts based on sales/margin trends and competitive pricing
Automated Price Execution
Seamlessly integrate with downstream systems for store-level price updates
Scenario Modeling
Use sandboxing to analyze the impact of proposed prices on volume, revenue, and margin
Benefits for Retail Tobacco Businesses:
Vistaar SmartPricing empowers you to:
Industrialize Pricing Processes
Achieve consistent and accurate pricing across your entire store network
Minimize Loss of Promotions & Billbacks
Adhere to all the regulatory conditions and constraints, capture all discounts and prices accurately as per the eligibility criteria to avoid supplier penalties
Replace Manual Processes
Replace manual ‘spreadsheet-driven’ pricing with a sophisticated and scalable ‘pricing system’ that uses a workflow-driven approach with in-built checks and balances to ensure accuracy of pricing for your entire portfolio of stores and products
Why Vistaar?
Don't let complex pricing hold you back. Contact Vistaar today and unlock the power of data-driven retail pricing excellence!