Pricing Platform for Retailers
Take your pricing to the next level with time-tested AI solution that:
- Uses advanced multi-ML models for pricing beyond traditional methods
- Assesses impact on business metrics with What-if simulation tool
- Offers transparent pricing, avoiding black-box approach
- Optimizes profitability with dynamic pricing in real-time
Pricing platform that empowers your pricing
Competera offers a unique technology blend to make the pricing process easy and effective, allowing you to reach your strategic goals.
Dynamic product assignment
Link products to pricing campaigns on-the-fly based on specific parameters. You can set this pricing campaign goal: rule-based, markdown or promo.
You gain control over the full spectrum of pricing activities, ensuring your strategies align optimally with your business goals for maximum impact
Targeted product relationships
You define linear or hierarchical dependencies between products. Also, you can unite products by different indexes. So, you link product not only to pricing limits but create meaningful cross-dependencies between your items.
You can simultaneously review repriced products, orchestrate pricing campaigns, and synchronize pricing adjustments across related items.
Outperform your competitors with Pricing Platform
Advanced technology is the key to growing bottom-line sustainably. The future belongs to real-time AI-driven pricing.
Reduce repricing time by 50%
20+ factors beyond elasticity considered in price setting
10B+ transactions were used to train the AI model
KPIs predictions
Benefit from our short-term and mid-term business metrics predictions. You can see how your sales volume, revenue, gross profit and profit margin will look like in 1-12 weeks.
‘What-if’ simulation
Based on specific pricing scenarios, you can see how your bottom line changes. The scenarios come with probability rates so the only thing is left for you is to choose the most optimal.
It provides the flexibility to experiment with different pricing rules, strategies, incorporate business constraints, and fine-tune settings, helping you explore all potential outcomes and make the most informed decisions.
See why Competera is one-of-a kind solution
Other solutions - Elasticity Correlation
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Price change
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Sales change
Elasticity correlation between price level and sales levels changes#Reaction
Competera - Deep learning
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Product
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Price
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Season
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Promo
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Competition
Multidimensional weighing of all impacting factors and creating contextual dependencies#Behaviour
Smart segmentation
You can define product roles depending on their elasticity, impact on revenue and profit. This segmentation is dynamic because some products change their roles over time.
Our platform provides tailored recommendations on segmentation strategies that best suit your needs, helping you optimize your product management efficiently
Powerful analytics
Pricing Platform provides you with a detailed price interpretation, influence factors on price recommendations, competitors’ pricing dynamics, KPIs progress on a company/category/brand levels, cross-dependencies as well as dynamic reports.
You'll get a 360 view of your pricing process and understand all factors behind AI-generated decisions, leaving guesswork behind and showing the apparent reasons behind your performance.
AI Pricing over gut feeling
Eliminate guesswork and gain full visibility into your pricing strategies, understanding the underlying causes and business impact
FAQs
Find answers to some of the most common questions people have regarding the use of Competera.
What is a Pricing Platform?
Our Pricing Platform is a powerful price optimization solution that transitions you from intuition-based decisions to data-driven optimal pricing. It utilizes a contextual AI model to analyze over 20 pricing and non-pricing factors, processing billions of price combinations to suggest the optimal one.
Is the Pricing Platform fully AI-driven?
Yes, our Pricing Platform combines AI-driven automation with human-in-the-loop guidance for optimal pricing decisions. This approach simplifies complex decisions and enhances transparency, allowing you to see and understand the factors behind AI-based pricing.
What do I need to integrate the Pricing Platform?
You'll need two years' of transactions, price lists, promo calendars, and product references to integrate our pricing platform. Our team will support you from early stages of implementation, assessing your market position, helping you set goals, and tailoring the pricing to align with your business strategies.
What kind of Dynamic Price Optimization is available on the Pricing Platform?
Our platform offers dynamic price optimization through a group-based repricing approach. This considers cross-dependencies and cross-elasticities among product categories, allowing for synchronized pricing adjustments across related products, thus enhancing the coherence and efficiency of your pricing strategies.
Does mastering price optimization software require a lot of effort?
Using AI Pricing Platform by Competera doesn’t require specific training for teams, and price optimization can be done even over email with the highest end-user adoption due to intuitive UI; You can execute price optimization even without specific knowledge.
How much time will I save by using the Price Management Software by Competera?
Using our Price Management Software, you can significantly reduce the time spent on repricing and promo planning. Typically, repricing tasks that took 60 hours weekly can now be completed in just 4 hours, thanks to our efficient and guided approach.
