Flexibly react to competitive prices, local demand and current events
Take action and become an adaptive retailer
The era of dynamic pricing, also known as time-based pricing, allows retailers to adjust their pricing strategy in real-time by considering supply and demand, competitor pricing and other external factors like the day of the week, special events, customers’ location and the weather.
To remain competitive you need to determine a price for the consumer that is in line with the market, measured in terms of price acceptance.
How we enable automated dynamic pricing for all retailers
With the introduction of electronic price labelling an even greater impact can be achieved, allowing traditional stores to flexibly adapt their pricing strategy to the same level as online-pure-players. This opens up entirely new possibilities, especially for chain stores.
Our algorithms are initialized through a combination of historical and real-time data and are constantly analyzing the interplay between price optimization and customer reaction. The user can immediately understand the effectiveness of the set prices and thus react quickly and flexibly to changes in competitors’ prices, demand and other market conditions.
Maximize your profit with real-time pricing
Dynamic pricing based on precise demand forecasts enables you to take control of your pricing strategy and empowers you to consistently set competitive prices; at the same time, you exhaust the full price acceptance of your customers. By making optimal pricing decisions in real-time you can maximize revenues and profits across all channels. Are you ready to become an adaptive retailer?
The aifora retail automation platform enables you to understand all price decisions made by the machine and allows users to intervene at any time, transparently displaying the predicted impact. Thus, our dynamic pricing algorithms automate the pricing process – allowing you to handle only the exceptions.
The integrated price scraper automatically captures and records all prices of relevant competitors. In contrast to the widely used re-pricing approach, we consider competitors’ prices as weighted pricing factors. The danger of participating in downward price spirals is thus ruled out. In addition, you are able to ensure that competitors’ prices are always measured in the context of your own brand strength.
Multiple Pricing Strategies
Our solution is able to depict different pricing strategies. Target functions can be flexibly configured to maximize sales and profit or to optimize inventories, all down to the article level. You are thus able to pursue differentiated strategies within the product ranges and hence exploit the entire pricing potential.