Managing pricing
can be a simple task

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Price sensitivity
grows

79% of consumers indicate the cost of goods to be the most
important factor when choosing a store. In response to this
trend, retailers need to manage pricing policy, responding
quickly to changes in the local market.

The traditional method of pricing, using paper-based
reporting does not produce fast and accurate results does
not take into account numerous factors and takes
a significant amount of labor.

Why it is important
to know the competitors' price

Best pricing strategies
in a several steps

01

Data collection

Pricing automation starts with data analysis.
In addition to internal sales information, there is
a need for data on competitors, which can be obtained
through mobile monitoring or from pre-installed databases
from external suppliers (CRF).

Using the data obtained, the system calculates
the demand elasticity curve: it determines what level
of demand, profit and revenue will be obtained with
different pricing options.

The pricing module takes into account
the following data

Sales
volume
Competitors’
prices
Remaining items
in stock
Expiration
date
Supplier
Base
price
Weather
Seasonality
Weekends,
holidays and
salary days
Promotions
Place on the shelf
the shelf
Traffic jams
02

Choosing pricing strategy

To determine the acceptable price for
the product, managers create a pricing scenario
for each SKU or product category, establish a pricing
strategy: maximum revenue, maximum profit or maximum
demand. The created script templates are saved and
available for selection when needed.

03

Rule-based pricing

Based on the input data and the specified pricing
strategy, the system determines the best price
for the product. It takes into account the restrictions
set by managers on price changes and marketing
characteristics of numerical values.

04

Recommendations processing

Pricing recommendations are uploaded into control
panel. Company managers can respond to recommendations,
apply or decline them, sending new prices to ERP
system in one click.

05

Sales analytics

For each SKU there is detailed sales analytics
available, which allows to monitor key indices
and timely change pricing strategy to increase
sales effectiveness

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