Make Pricing Decisions That Meet Multiple Objectives
Not every item or category in your store or on your website can be priced to drive profit. With each one having a different role and level of customer response, determining the best pricing investment decisions across every item is a constant challenge. Precima’s Total Store Price Optimization solution helps you simultaneously understand the trade-offs across all categories and all items across your entire store and website, so that you can make smart, balanced pricing decisions that deliver against financial targets while also meeting the needs of your best customers.
We deliver an integrated pricing platform across shelf, ecommerce and personalization.
We model the customer response to competitor price changes to identify competitors who are important for their brand, category or location.
Why it works
Whether online or in the store, some items tend to demand lower prices but drive perception and volume, while some can withstand higher prices and drive more profit with limited risk to customer loyalty. It’s very common for shoppers to comparison-shop for some key items and not for others. We help you balance the whole picture to develop a comprehensive pricing strategy that works for the entire store or site.
Analytics that go deep
Our data scientists dig into the most granular levels of your customer, product and store hierarchies, and determine elasticities, prices and forecasts at the customer or segment level. We help you identify Key Value Items, analyze customer behavior by segment, analyze your competitors and more.
We forecast the likely impact of price recommendations and compare different what-if strategies to make sure every pricing decision makes sense.
Pricing decisions need to be made again and again. Using advanced AI techniques, we help optimize your pricing on an ongoing basis, constantly improving the model using new information to help you refine your prices across your real and virtual stores.
Price sensitivity and competitive analysis
We help you identify the items, brands and stores on which customers are most price sensitive and where competitive pricing makes the most sense.
Reach out today to find out how our solutions can deliver for you
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