CHICAGO, Oct. 12, 2005 – Accenture (NYSE: ACN), a global management consulting, technology services and outsourcing company, and DemandTec, a leading provider of Consumer-Centric Merchandising Software, announced today the successful completion of a price optimization program for B&Q’s 320 stores in the United Kingdom
Accenture and DemandTec teamed to help B&Q with a comprehensive strategy to improve its pricing, merchandising and assortment decisions using DemandTec’s software, including the DemandTec Price™ application. Founded in 1969, B&Q is the number one home improvement and garden retailer in Europe and the third largest in the world.
“In order for B&Q to thrive, we must not only have a thorough understanding of customer needs but also the merchandising factors that impact demand,” said Howard Langer, Commercial Pricing Manager, B&Q. “By implementing DemandTec’s Consumer-Centric Merchandising Software we look forward to being more precise and effective in the items we put on the shelf and how we serve our customers.”
DemandTec Price™ is part of an integrated application suite which optimizes complete lifecycle pricing and includes DemandTec Promotion™ and DemandTec Markdown™. These applications enable retailers to strategically plan and execute optimal pricing strategies throughout the product lifecycle - new items, everyday priced items, promoted items, and markdowns - based on a complete understanding of consumer demand.
“Understanding customer buying behavior and the levers that drive profitable sales growth are critical to a retailer’s success, particularly given the intense focus on value in today’s retail sector,” said Richard Wildman, partner, Accenture Retail and Consumer Goods & Services practice. “B&Q will now be able to make more fact-based decisions about pricing, assortment and merchandising and, therefore, bring improved benefits to the company, its customers and its shareholders.”
“The retail environment in the UK is highly competitive,” said Dan Fishback, CEO of DemandTec. Retailers of all sizes can benefit from software that help analyze and evaluate pricing and merchandising. Now that DemandTec and Accenture have helped B&Q successfully implement this software, the company should be able to better achieve its revenue, volume, and profitability objectives while continually improving service to its customers throughout the U.K.”
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. With more than 123,000 people in 48 countries, the company generated net revenues of US$15.55 billion for the fiscal year ended Aug. 31, 2005. For more information, visit www.accenture.com.
DemandTec’s Consumer-Centric Merchandising software helps retailers and consumer products manufacturers strategically plan, optimize, and execute consumer-centric merchandising and marketing programs based on a quantified understanding of consumer demand. Retailers have ranked DemandTec #1 in Strategic Value, Customer Satisfaction, and Quality of Service among the top 50 retail software vendors in the 2004 RIS Leaderboard survey. DemandTec customers include B&Q, Best Buy, Brookshire Grocery Company, Duane Reade, Giant Eagle, H-E-B Grocery Co., Longs Drugs, Monoprix, Piggly Wiggly Carolina Company, RadioShack, and Safeway. For more information, please visit http://www.demandtec.com.