Price Management and Optimization

Be precise and focused with price optimization, successfully executing your price strategy to deliver the best price where it counts sustaining healthy overall margins.

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“We progressed beyond rules-based pricing to leapfrog past our competitors and create a gap with them using pricing science. This has delivered a strong, multi-year competitive advantage.”

Pricing is the #1 Priority

Global shopper research finds that price is the #1 factor for shoppers when deciding where to shop and can have the largest impact on customer satisfaction and a retailer’s bottom-line. Although AI pricing has been widely proven for more than a decade and repeatedly cited as a driving reason for positive performance in earnings calls, today more than 90% of retailers still report manual or only semi-automated processes for pricing.

AI Pricing is No Longer Considered a “Nice to Have”

In order to keep pace in today’s hyper-competitive environment retailers need a pricing solution built to keep up. With continuing pandemic-driven market shifts taking place, 93% of retailers expect to re-assess their key value items. Delivering the most productized science on the market, DemandTec has this capability built into the product so retailers won’t have to wait for lengthy analytical services cycles.

Efficiently execute rules-based pricing through price management
Deliver optimal prices through the industry’s latest AI modeling techniques
Accurately recommend prices based on granular, current price elasticity and demand trends
Utilize the most productized science features including strategy recommendations and KVI recommendations
Visualize key metrics, prioritize based on notifications and alerts, and quickly take action through an intuitive workspace
Align to price strategies and understand the cost of rules and constraints to continually refine and improve pricing strategies

“We are now the ones setting the pace and defining the market, all of which we manage with price optimization. Now our competitors are trying to follow us.”