Atlanta-based DemandTec by Acoustic, a leader in retail pricing, promotions and markdown technology, has launched its “Autonomous Pricing On Demand” service. The service delivers enterprise-grade, AI-powered price optimization for retailers of all sizes to quickly respond to market and consumer behavior changes so they can compete with larger, tech-savvy competitors.
A first for the retail pricing technology market, the service eliminates cost, training and resource barriers traditionally required, while improving price perception to grow revenue up to 3 percent and margins up to 5 percent. According to the March 2022 study on retail pricing from Retail Systems Research, about 60 percent of small to mid-sized retailers do not use data-driven solutions to manage pricing.
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