Leading Swedish Retail Grocer Coop Renews DemandTec Price Management and Optimization
Three-year renewal enables innovative grocer to deliver engaging, science-based prices that deliver healthy business results
ATLANTA, May 11, 2021 /PRNewswire/ -- As one of the largest grocer retailers in Sweden, Coop delivers quality retail with sustainable business practices through some 800 stores nationwide. Since first entering into a relationship with DemandTec in 2012, Coop has leveraged DemandTec Price Optimization science to deliver engaging prices across its many food and fast-moving consumer goods categories, while also generating margins to return profits to its member-owners and invest in continually improving the business for the benefit of shoppers.
In recent years, the cooperative has expanded its DemandTec Price Optimization usage into stores that joined the Coop family from Netto, which Coop acquired in 2019. Overall, the organization has seen measurable business impact throughout its multi-year relationship with DemandTec, in recent years through DemandTec's partnership with LOAD.
As Coop Price and Space Director Fredrik Hermansson explains, "We genuinely value our multi-year engagement with DemandTec optimization science to craft prices that contribute to our market share, while also returning margins that enable us to reward member-owners and invest strategically in the business. We look forward to continuing a strong and high-impact relationship with the DemandTec team in the years ahead."
"We are very grateful for the longstanding collaborative and productive relationship with Coop, which has focused on measurable business results throughout," said Niranjan Chandrasekaran, DemandTec Vice President of Worldwide Services, Customer Success and Support. "We are excited to extend the spirit of collaboration to leverage pricing science that serves Coop and its member owners today and into the future."
About Coop
Coop is one of the largest retail grocery providers in Sweden, with approximately 800 stores across the country. The stores are co-owned by 3.5 million members in 29 consumer associations. All surplus that is created in the business goes back to the members or is reinvested in the business, which creates a virtuous cycle. Coop's vision is to be a good force in food in Sweden, which means the company always must be in the forefront when it comes to customer experience, environmental and sustainability work.
About DemandTec by Acoustic
DemandTec, a strategic business unit of Acoustic, is committed to taking AI automated lifecycle pricing to new heights. With deep and commanding worldwide retail pricing domain knowledge and experience, DemandTec enables retailers and CPG partners to deliver optimal pricing, promotions, and markdowns across all retail channels to thrive in today's hyper-competitive retail landscape. Ranked among the top 10 providers in 21 categories in the 2021 RIS Software LeaderBoard, DemandTec addresses retail pricing challenges today and into the future with relentless focus, commitment and ongoing investment. For more information, visit www.demandtec.com or follow us on LinkedIn or Twitter. To learn details about our RIS LeaderBoard rankings, visit our resource page.
About Acoustic
Acoustic is an independent marketing cloud with the open platform needed for success in a dynamic world. We're reimagining marketing technology by lessening the burdens of repetitive tasks and equipping marketers with powerful technology that is simple and easy to use. We give marketers more time to do what really matters—to think bigger and put themselves back into the work. We help marketers aim higher, bringing humanity back into marketing. Acoustic serves an international client base, including Fortune 500 companies, providing digital marketing, marketing analytics, content management, personalization, mobile marketing, and marketing automation solutions. For more information, visit www.acoustic.com.
SOURCE DemandTec by Acoustic
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