#Finland #Helsinki #Retail Promotions #Deal Management #RELEX Solutions

RELEX Solutions Launches Deal Management

In a bold step towards enhancing the collaboration between retailers and suppliers, RELEX Solutions has unveiled its latest offering, Deal Management. This innovative tool provides a centralized environment for planning, negotiating, and evaluating promotional deals, ultimately streamlining the entire promotional process.

What is Deal Management?

Deal Management unifies promotional planning into a single platform, merging vendor deal collaboration with promotional strategy development. This capability empowers retailers and suppliers to work together more effectively and efficiently, which is crucial in today's competitive market where over 70% of promotions are financed by suppliers. With this tool, both parties can take advantage of clear data and actionable insights, fostering trust and increasing the effectiveness of promotional campaigns.

The Need for Enhanced Promotion Trust

Recent research conducted by RELEX indicates a significant concern among consumers regarding the authenticity of promotions. Around 84% of shoppers feel misled by promotional offers, which raises questions about the credibility of retailers. Inconsistencies in promotions also contribute to this distrust, with 76% of consumers expressing that such irregularities undermine their confidence in retailers. It is precisely these issues that Deal Management aims to address by facilitating better-planned, data-driven promotions that prioritize consumer trust.

Key Features of Deal Management

With Deal Management, retailers can now create a comprehensive system for managing annual supplier agreements, funding allocations, and promotion details all in one place. This centralized approach not only replaces outdated email and spreadsheet methods but also introduces structured workflows and financial transparency. The platform enhances collaboration by providing a shared workspace and robust promotion forecasts, which are essential for making informed decisions early in the planning process.

Suppliers can also gain access to valuable analytics, allowing them to subscribe to promotional forecasts within the planning environment. This feature ensures that both retailers and suppliers work off the same data set, thus driving alignment and shared accountability.

Benefits of the Integrated Platform

The introduction of Deal Management is expected to yield numerous advantages for retailers:

• - Strategic Support: It facilitates strategic pricing and promotion planning, campaign execution, and post-event analysis, all aimed at improving profit margins and perceived value among consumers.
• - Collaborative Efficiency: By consolidating promotional activities into a unified system, retailers can enhance how they connect vendor funding decisions with promotion strategies based on actual performance data.
• - Informed Decision-Making: With access to predictive analytics, retailers are better equipped to anticipate market changes and fine-tune their promotional efforts accordingly.

Mikko Kärkkäinen, CEO and co-founder of RELEX Solutions, emphasized the importance of this new capability: "Retailers invest heavily in promotions, yet often lose value due to fragmented funding decisions and performance insights. Deal Management offers a 'shared source of truth' that simplifies planning and execution, ensuring predictable outcomes and high ROI."

Ananda Chakravarty, Vice President at IDC Retail Insights, also applauded the potential impact of this new system, noting that bridging the gaps between funding, execution, and performance can significantly enhance retailers' promotional capabilities.

Conclusion

As the retail landscape continues to evolve, the demand for effective promotional strategies is becoming more critical than ever. With Deal Management, RELEX Solutions is not just providing retailers with a tool but is redefining how promotional planning can be integrated into their operations. This revolutionary platform sets the stage for stronger collaboration, greater transparency, and ultimately, a more trustworthy relationship with consumers. The future of retail promotions starts here.

For more information about RELEX Solutions and Deal Management, visit RELEX Solutions.