Using manual calculations and Excel spreadsheets to manage prices for tens of thousands of SKUs across sales channels and locations is an error-prone and time-consuming process. The huge number of influencing factors cannot be effectively managed. Relying on intuition and experience is subjective and limited. In order to react quickly and flexibly to changing local market conditions you need to make decisions that are 100% objective and data-driven.
aifora analyzes current customer behavior and forecasts demand per article, style or SKU. As a result, we set the optimal prices for each location and sales channel in order to enhance profit margins or inventory, depending on your objective. All pricing activities are centrally managed on one platform. Thus, we guarantee the highest possible level of efficiency – up to the point of full automation.
Determination of optimal price for market launch
Intelligent creation and planning of sales promotions
Realtime reaction to current market conditions
Calculation of optimal markdown level at the right time
We were particularly impressed by the fact that aifora makes a transparent recommendation depending on the selected pricing strategy.
Our solutions automate your processes – you determine the degree of automation! In a user-friendly web interface, we transparently display the forecast quality of every calculation so that you can decide when to override the machine’s decisions. In the simulation mode, you can see the predicted impact of your actions on central KPIs. Eliminate repetitive manual tasks and guesswork, and make the move to data-driven decisions.
Price too high and you’ll alienate customers. Price too low and you’ll leave money on the table. With our AI-powered solutions for intelligent price automation you’ll get pricing just right. We promise you significant increases in sales and profits as a result. Our customers are the living proof.
3-6%
Sales Growth
2-8%
Profit Increase
2-10%
Sell-Through Increase
If setting the right price is so crucial for both winning customers and making profits, how exactly do retailers set prices? The answer depends on the time period in history that you’re considering.
As the retail landscape faces disruption, the importance – but also the challenge – of setting the right price continues to grow. Determining the optimal prices for retail goods is no easy task to begin with.
As the retail landscape faces disruption, the importance – but also the challenge – of setting the right price continues to grow. Determining the optimal prices for retail goods is no easy task to begin with.
Pricing has always been and continues to be a core capability for retailers. Get pricing right and retail companies gain a competitive advantage. Get pricing wrong and retailers lose opportunities to take their company to the next level of growth and profitability.
Most retailers make the mistake of reducing their profits even further themselves. The reason for this is price discounts that are too extreme or too early – a mistake which is entirely avoidable.
Real-time pricing using artificial intelligence (AI) has long been the order of the day in e-commerce – after all today’s customer is a bargain hunter who is always looking for the best price. Meanwhile, brick-and-mortar retail is (still) lagging behind. In e-commerce, a fierce price war is raging and there is no end in sight.
Book an appointment with a sales representative to see the aifora retail automation platform firsthand. We’ll answer all your questions and explain how our pricing solutions can meet your needs.
Enhancing pricing by 1% can get retailers a 6% profit boost.
