Sciative Solutions: Retail Price Optimization Solution
  •  Is your pricing process fast, consistent, scalable and scientifically robust?

  •  Are your pricing analysts spending majority of their time gathering and processing data in spreadsheets, or evaluating different pricing, profitability, and competitive scenarios?

  •  Do your prices change quickly enough in response to changes in competition prices, costs, or customer behaviour?

  •  Have you applied machine learning approaches for optimizing your competitive pricing policy?

  •  Can you measure the impact of your pricing actions on your top and bottom lines?

Features and functionalities to help retailers manage their end-to-end pricing processes effectively.

Price Management

Automate end to end process including data consolidation and processing; optimal price determination; approvals, execution and publication; dashboards and reports

Competitive Intelligence

Gather, process and feed competition price and product portfolio in pricing algorithm to identify assortment gaps, and areas of competitive strength and vulnerability

Omni-channel & Segmented Pricing

Manage differential pricing across market segments (geographies) and sales channels in response to varying competitive and customer price sensitivity

Personalized Pricing

Maximize customer lifetime value and gain top of mind recall whenever customer has an online shopping need!

Scenario Building and Testing

Enable pricing analysts to create and evaluate different competitive pricing approaches

Data Visualization

Highly interactive and visual dashboards and reports to monitor the health of pricing and effective decision making

Ensemble of Price Optimization Algorithms

Depending upon business situation, appropriate pricing algorithm applies from a library of pricing algorithms, including

  • Competitive pricing
  • Cost based pricing
  • Portfolio pricing
  • Conversion rates based pricing
  • Liquidation and Markdown price optimization
  • Product sales velocity based pricing
  • Business rules based pricing

Pricing algorithms built on machine learning framework to continually improve their performance

Will your retail business benefit with price optimization?