Dynamic and Competitive Price Optimization
Pricing will always be a core capability and profit lever for retailers. With our Dynamic and Competitive Price Optimization, we help you embrace the new dynamics of the omni-retail world. We help you boost profits by optimizing the pricing of each product over its lifetime with the goal of attracting and retaining customers with larger baskets and higher customer lifetime value.
We empower you to build dynamic competitive pricing that helps you set and achieve the right price every time. We also enable you to optimize your response to price changes to competitors’ price changes.
With Dynamic and Competitive Price Optimization, you can achieve better matched prices for all region/store customer characteristics and respond smartly to competition with automatically updated prices.
Why use Dynamic Competitive Price Optimization Solution?
AI-powered pricing decisions
- Generate effective pricing decisions using our AI-powered engine which estimates price-elasticity uniquely for each product; taking account of attributes, cross-product effects, and competitor activities
- Use AI-based self-learning and adaptive forecasts to make price change recommendations
- Increase your profitability with AI-driven, proactive, and precise pricing decisions.
Strategic price optimization, effective promotions, increased store traffic
- Establish successful pricing strategies for key value and margin-driver items
- Price key products of customers with large baskets for traffic building
- Identify promotions that bring promo-seekers to the store for the first time rather than encouraging pantry-building by existing customers.
Achieve maximum overall category profitability
- Use cross-price elasticity for optimization of total category bottom-line
- Evaluate own and cross-price elasticity within category
- Define halo and cannibalization effects of product price changes on other SKUs.
Store, region, and channel-specific dynamic price optimization
- Make pricing decisions based on the granular understanding of demand at any level of the business including digital and physical channels, chain, region, and store level.
Full lifecycle pricing aligned with your unique competitive strategy
- Dynamic Competitive Price Optimization autonomously classifies products into various stages of product lifecycles and deploys algorithms that align with your unique competitive strategy.
Optimal real-time responses to the relevant competitors’ prices
- Optimally respond to competitor prices moves at any frequency by taking their prices, promotions and sales data into account
- Identify competitive elasticity effect on demand considering competitors’ physical store and digital channel pricing needs.
“Invent Analytics’ Dynamic Competitive Price Optimization solution positions all our products optimally in response to market conditions and competitor actions. In alignment with the strategies, we have defined for different product groups, Invent Analytics’ solution allows us to optimize both the short term and the long-term profitability and the transaction count.”Duygu Bayram, Customer Experience, CRM & Analytics Group Head, Teknosa
Our customers see results
Achieve the highest forecast accuracy in the omni-channel world.Learn More
Omni-Store and DC Replenishment Optimization
Make profit-optimized inventory decisions every day.Learn More
Allocate your inventory in anticipation of omni-channel demand that could be fulfilled from every possible source.Learn More
Accelerate your margin growth by optimizing your markdowns throughout the product lifecycle.Learn More
Create customer-centric assortments and maximize profit through localized product selection and assigned shelf space.Learn More
Increase your omni-channel productivity by efficiently optimizing inventory across locations.Learn More