How to Tackle Inflation and Overstock Issues with Elasticity-driven Price Optimization
Competera enables retailers to increase gross margin by 6%, continuously calculating and re-quantifying billions of possible price combinations based on own and cross-product price elasticity in real time.
How Retailers win with Competera?
The future of retail belongs to real-time elasticity-driven pricing
Reduce repricing time by 50%
+8% revenue uplift
+6% margin uplift
Fresh data every 2 hours
Time was an issue for us, as we didn't know when exactly Amazon was about to launch in Sweden. Nonetheless, our key requirement from a data provider was to receive Amazon Sweden and its sellers' prices within 24 hours after the marketplace launch. Competera did the job within 8 hours, and that was a great success.
Competera’s platform is a great tool for price optimization and price management. As a user, I really appreciate the Competera dashboard which gives me the opportunity to work on any level — from the portfolio level to going as deep as the SKU level. With Competera, we know which strategy is gonna benefit us the most and go from there.
As the business was scaling, it was important for us to base our pricing decisions on market trends, website analytics, and other crucial data points that a pricing manager can hardly embrace all at once. Competera’s smart algorithms made our price management data-powered and proactive and saved the team 50% time from routine tasks. Competera has shown how AI is revolutionizing the traditional pricing processes and strategies, so we look forward to adopting the technology for other regions.
Competera platform is a great tool to sustain the right price perception and keep customers satisfied with our prices. The data-driven insights generated by the platform help bringing our mission to life, i.e. provide a unique digital experience and excellent service to our clients.
We believe Competera is the best in the industry. Their platform provides a set of tools, including market-based pricing and AI-driven demand-based pricing, that offers solutions to an immediate need, as well as our long-term plans. They have quickly become a strategically important player that we entrust with enabling a core element of our business.
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Discover how price elasticity can make your prices both economically justified and attractive for your customers.