DALLAS – July 22, 2020 – Symphony RetailAI, the leading global provider of AI-enabled retail solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain, today announced that Magnum Cash & Carry, the market leader and fastest-growing FMCG retailer in Kazakhstan, has announced an eight percent increase in category sales in two targeted categories over a three month period of time as a result of the implementation of Symphony’s assortment optimization solution.
Consulting for Retail, an implementation partner of Symphony RetailAI, had worked with Magnum Cash & Carry to set up a pilot test for two major categories – beer and diapers. They selected six test stores and optimized assortment for these two categories, comparing to control stores. The results of this pilot showed a significant increase in sales within the optimized categories – eight percent – when compared against the test stores – those with a similar demographic of shopper and which had not made any adjustments to these categories.
“The effectiveness of the Symphony RetailAI solution was irrefutably clear and compelling – and this was well before COVID-19 appeared, said Jacob Fishman, Deputy Head of the Board, Magnum Cash & Carry. “You simply do not see increases in category turnover to this degree by accident. Now, as a result of our confidence in the optimization solution, we’re undertaking a much larger effort in our assortment management to optimize all remaining categories. Not to do this would be to pass over significant increases in sales as a result of better localization of assortment, that of course, please the customer more.”
“We have found that starting an implementation with a very specific and targeted scope is extremely helpful to our customers and to us,” said Arnaud Gauthier, President & COO, EMEA Sales, Symphony RetailAI. “When you take the results of such an effort and then extend the learning across other categories it leads to a substantial increase in revenue. This is why, after a first validation phase, Magnum Cash & Carry has decided to fully deploy our solution in all stores and categories.”
Learn more about Symphony RetailAI Assortment Optimization.
About Magnum Cash & Carry
Magnum Cash & Carry is the largest retail and retail chain in Kazakhstan, one of the ten largest private companies in the country. The main activity is the sale of consumer goods. The network owns 71 shopping complexes of various formats (hypermarkets, supermarkets and small-format Magnum-express stores) in nine cities of Kazakhstan.
About Consulting for Retail
Consulting for Retail is an international consulting company that provides services for optimizing logistics processes, category management (assortment and layout management), supply chain and human resource management through business consulting and implementation of IT solutions for retail.
About Symphony RetailAI
Symphony RetailAI is the leading global provider of role-specific, AI-enabled revenue growth management solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain. Our proven, industry-leading, AI-enabled software, coupled with the industry’s only conversational natural-language AI interface, CINDE, provides key users with proven prescriptive and preemptive recommendations that make it easy to identify end-to-end growth opportunities, activate plans, and realize measurable profit and revenue growth. Our solutions are specific to key decision-maker roles focused on profitable growth across the retail value chain from source to consumer. With our strong global partner ecosystem, we serve more than 1,200 organizations worldwide – including 15 of the top 25 global grocery retailers, 25 of the top 25 global CPG manufacturers, thousands of retail brands, and hundreds of national and regional chains – all through the Microsoft Azure Cloud. Symphony RetailAI is a SymphonyAI company. More at www.symphonyretailai.com.
SymphonyAI Group is the fastest-growing private group of B2B AI companies, backed by a $1 billion commitment to deliver next-generation AI solutions for transforming the enterprise. SymphonyAI Group addresses use cases in healthcare and life sciences, retail and CPG, industrial manufacturing, energy, oil & gas, media and entertainment, defense, and financial services. Since its founding in 2017, SymphonyAI Group has grown rapidly to a group of seven companies with a combined revenue run rate of more than $300 million. Over 2,000 talented leaders, data scientists, and other professionals operate the group under the leadership of one of Silicon Valley’s most successful serial entrepreneurs, Dr. Romesh Wadhwani. Website: www.symphonyai.com
Ketner Group Communications (for Symphony RetailAI)