Duane Reade Renews Contract for DemandTec Price™, Adds DemandTec Promotion™ and DemandTec Markdown™ Software
New York City’s Largest Drug Store Chain Takes Complete Lifecycle Pricing Approach
New York City – January 15, 2006 – DemandTec, Inc., the leading provider of Consumer-Centric Merchandising software for retailers, today announced at the National Retail Federation’s 95th Annual Convention & EXPO, that Duane Reade, the largest drug store chain in New York City, has renewed its contract for DemandTec Price™ and has licensed DemandTec Promotion™ and DemandTec Markdown™.
Duane Reade’s decision, which is based on superior results achieved with DemandTec Price over the past 24 months, will enable the drug store chain to pursue Complete Lifecycle Pricing across all of its stores, managing and optimizing base prices, promotions, and markdowns, while gaining power over the entire pricing process, for every item in every store, from beginning to end.
Duane Reade, the most recognized drugstore chain in metropolitan New York, had sales of $1.5 billion in fiscal 2005. As of January 12, 2006, the company had 255 stores in commercial and residential neighborhoods throughout New York City and in the states of New York and New Jersey. Duane Reade`s conveniently located stores carry an extensive assortment of items, including a wide variety of prescription and over-the-counter drugs, vitamins and nutritional products, health and beauty products, cosmetics, hosiery, greeting cards, photo supplies, and photo finishing.
“We’ve experienced superior benefits with DemandTec Price since deploying it in September, 2003. As a result, we’ve chosen to embark on a strategy by licensing DemandTec Promotion and DemandTec Markdown,” said Gary Charboneau, Sr. Vice President of Sales and marketing at Duane Reade. “DemandTec is the market leader in pricing and price-optimization technology across the product lifecycle, and we look forward to using the DemandTec product suite to help us continue to gain important consumer insight and reach our business goals.”
“We are extremely pleased that Duane Reade has chosen to renew and expand their license of DemandTec software”, said Dan Fishback, President and CEO of DemandTec, Inc. “Duane Reade’s decision is yet another validation of the ongoing value that our software provides as well as the importance for retailers to continue to enhance their understanding of and ability to serve their customers.”
About DemandTec
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. DemandTec customers include B&Q, Best Buy, Brookshire Grocery Company, Duane Reade, Giant-Carlisle, 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.
Media Contact:
Cassandra Moren
DemandTec, Inc.
(650) 226-4690
cassandra.moren@demandtec.com
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