Price Optimization Software for Retailers
Hit all of your business goals with a pricing portfolio approach empowered with cutting-edge pricing optimization. With Competera AI, you get:
- Optimal prices for each product by store & channel, considering 20+ factors
- Price suggestions from AI trained on 10B+ real-life transactions
- A human-in-the-loop guidance and control approach
See how we address common challenges of retail pricing
Competera offers a unique technology blend to make the pricing process easy and effective, allowing you to reach your strategic goals.
Sustain optimal prices across all sales channels in real-time
External Factors
- Cross-product elasticity
- Product Preferences
- Similar products
- Restocking
- Promo
- Elasticity
- Promo calendar
- Recent Purchases
- Regular price elasticity
Internal Factors
- Competitors
- Seasonality
- Inflation
- Weather
Channels
- Distribution Factors
- Clusters
- Stores
- Online
- Mobile
Dynamic AI pricing optimization tool for any size and complexity
At the heart of Competera price optimization software is a unique engine for searching optimal price points.Set prices for any number of products with 98%+ precision level guaranteed.
When calculating new prices, the AI price optimizer software identifies cross-product dependencies and demand patterns, considering its elasticity, cross-elasticities, sales cannibalization, and 20+ other pricing and non-pricing factors.
Clarity that empowers your strategy
Explore the factors driving your sales, understand key changes, and pinpoint the influencing elements impacting your pricing. The AI Pricing Platform provides a robust foundation for crafting sophisticated pricing strategies, helping you analyze how specific product features or seasonal trends influence buying decisions.
With precise insights, you can move beyond guesswork and clearly understand the dynamics behind your performance.
Price Optimization Beyond Elasticity
Competera offers a unique technology blend to make the pricing process easy and effective,allowing you to reach your strategic goals.
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Price change
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Sales change
The first generation of algorithmic price optimization tools automated demand elasticity calculations, focusing solely on the constant elasticity of individual SKUs
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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
Unlike first-generation price optimizer software, our second-generation AI pricing solutions use advanced multi-ML-model approaches to analyze historical sales factors and predict their future impact on consumer decisions.
Hit your targets with price optimizer software
A pricing manager can typically operate with up to 10% of key positions in different categories. Competera’s pricing optimization tool expands its capabilities to cover the whole product portfolio.
Price optimization software allows you to adjust and run various pricing strategies. All you need to do is select the metrics to grow and protect. The tool will do the rest.
Enjoy outstanding accuracy with AI pricing software
With Competera Price optimization software, businesses can operate with short-term sales forecasts of 90+% accuracy. It means you can predict the impact of your decisions and determine their effectiveness risk-free.
Thanks to high accuracy, you can forget unjustified pricing actions, incorrect promo ROI estimations, or margin-draining stock clearance.
This is how Competera helps retailers
How to start enjoying AI pricing optimization with Competera Pricing Platform
Competera considers your entire product portfolio when creating price predictions. Optimal prices are determined in a 4-step process:
Start
2 months
Explore Al-powered solution to win in pricing
Boost your pricing power with Competera.
FAQs
Find answers to some of the most common questions people have regarding the use of Competera.
What is price optimization?
Price optimization is a data-driven approach that helps retailers find the most effective price points for their products by analyzing historical data, market trends, customer behavior, and various pricing drivers. It ensures pricing decisions align with business goals while adapting to changing market conditions.
Competera's Pricing Platform uses dynamic pricing and advanced contextual AI to calculate and refine billions of potential price combinations continuously. This technology empowers retailers to streamline their price optimization strategies and make informed, profit-generating pricing decisions in near real-time.
Why price optimization is essential?
Price optimization is crucial for retailers because it maximizes profitability, enhances competitive advantage, and reduces pricing conflicts. Analyzing data on consumer behavior, market trends, and pricing drivers helps identify the optimal price point, increase profit margins, remain competitive, and provide comprehensive pricing recommendations.
How to perform price optimization?
Price optimization is a complex process that requires analyzing multiple factors to find the most effective price points for your products. Attempting to do this manually often results in errors and missed opportunities due to the sheer volume of data and pricing variables involved. That’s where Competera comes in.
With Competera’s Pricing Platform, you can streamline your price optimization by leveraging a robust, data-driven system that simultaneously analyzes over 20 pricing and non-pricing factors. The platform uses advanced contextual AI models trained on real-world data, including 10 billion+ transactions and global category trends, and tailors it to your needs. This technology ensures your pricing decisions are based on accurate, comprehensive insights, minimizing errors and maximizing profitability.
What are the benefits of price optimization?
Increased Profit Margins: By using data-driven analysis to identify the most effective price points, businesses can reclaim up to 6% in gross profit. This ensures optimal pricing for each product throughout its lifecycle.
Enhanced Customer Loyalty: Setting fair and competitive prices based on real-world insights builds trust and encourages customer loyalty. Customers are more likely to return to retailers that consistently offer value.
Streamlined Processes: Automating the pricing process reduces manual errors and saves time. Competera's platform can reduce the repricing time from 60 hours to 4 hours per week, freeing up teams for more strategic work.
Strategic Business Growth: With actionable insights, businesses can align pricing strategies with broader business goals, leading to more efficient and strategic growth.
Why is Competera the best price optimization software?
Advanced Deep Learning: The platform leverages deep learning to optimize prices for retailers. It simultaneously analyzes over 20 pricing and non-pricing factors, offering highly accurate recommendations.
Unmatched Transparency: Competera doesn't just automate pricing decisions but gives you a clear view of each recommendation. You'll see which products are repriced, why the recommendations are made, and the detailed reasoning behind them, offering unprecedented transparency.
Scenario Analysis with 'What-If': Our 'What-If' feature allows you to forecast the impact of different pricing scenarios on your business KPIs. This ensures you have the insights to align pricing strategies with your objectives.
Detailed KPI Alignment: Competera ensures that your pricing strategies align closely with your business goals. Its holistic approach helps retailers enhance gross profit by up to 6% and build customer loyalty through optimized, data-driven pricing.
