AI Price Optimization for retailers
Hit all of your business goals via portfolio pricing approach empowered with cutting-edge ML technologies. With Competera Price Optimization, your business gets:
- Price recommendations based on demand elasticity
- Price optimization to hit two targets at the same time
- Fact-based pricing with the whole category in mind
Representative Vendor in 2022 Short and Long Life Cycle Market Guides
2023 Best Retail Insights by Vendors In Partnerships Awards
Artificial Intelligence Project of the Year 2020
Analysts and experts recognize Competera as a major vendor for B2C AI pricing solutions
Competera helps to cover every pricing need
Price Optimization is one component of our product portfolio. Discover all pricing solutions designed for retailers with different pricing approaches.
Cost-plus
Margin-centric
Ad hoc repricing
Human-driven decision
Market-driven
Competitor-centric pricing triggered by market changes
Regular repricing
Constant manual check
Data dependence
Rule-based
Based on rules and business constraints
Automated real-time repricing
Human-supervised
Market-share focused
Elasticity-based
Mix of rules & demand-based pricing
Goal-oriented repricing
Manager as a strategist
Portfolio coverage
Personalized
Shopper-centric pricing
Individual offers based on LTV
Balance between customer demand and business goal
Cost-plus
Margin-centric
Ad hoc repricing
Human-driven decision
Market-driven
Competitor-centric pricing triggered by market changes
Regular repricing
Constant manual check
Data dependence
Rule-based
Based on rules and business constraints
Automated real-time repricing
Human-supervised
Market-share focused
Elasticity-based
Mix of rules & demand-based pricing
Goal-oriented repricing
Manager as a strategist
Portfolio coverage
Personalized
Shopper-centric pricing
Individual offers based on LTV
Balance between customer demand and business goal
Competera Pricing Platform
A unified workplace with an easy-to-use interface
Competitive Data
High-quality, timely product matches and data scraping covering any region, currency, or language in a single dashboard. Details
Pricing automation
Coherent, fast and flexible pricing with defined workflows and a transparent cause & effect analysis of every price change. Details
Price optimization
Elasticity-based price setting driven by demand patterns, products cross-impact and more than 20 pricing and non-pricing factors.
Who wins with Price Optimization?
Competera is an industry-agnostic solution allowing to reprice products at any level from specific categories and stores to countries and world regions. However, for certain industries the performance is at its best.
Offline B2C retailers
Multi-brand retailers
1000+ SKUs under management
Dynamic AI pricing solution for any size and complexity
At the heart of Competera Price Optimization is a unique engine for searching optimal price points. It can simultaneously set prices for any number of products with surgical precision.
When calculating new prices, the AI algorithm identifies cross-product dependencies and demand patterns, taking into account own elasticity, cross-elasticities, sales cannibalization, and up to 20 other pricing and non-pricing factors.
Forget black boxes: every recommendation is explained
Figure out the reasoning behind the optimal price recommendations.Competera interpretability features allow to:
- get insights on what was behind the Price Optimization engine’s decisions;
- check out how the set limitations have impacted the search range;
- find out what the demand elasticity curves look like;
- understand how the new price point impacts own product sales and what halo effect it has on other products in the category.
Software Trusted by Customers Across the Globe
Hit your targets
Typically, a pricing manager can operate with up to 10% of key positions in different categories. Competera expands their capabilities to cover the whole product portfolio.
Price Optimization makes it possible to adjust and run a wide variety of pricing strategies. All you need is to select the metrics to grow and to protect. The rest will be done by the machine.
Outstanding accuracy
With Competera Price Optimization, 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 about unjustified pricing actions, incorrect promo ROI estimations, or margin-draining stock clearance.
Uncover the full potential of Competera’s AI pricing
Read how Competera’s pricing solutions help retailers across different industries.
How to get AI-powered optimal pricing in 60 days
Competera considers your entire product portfolio when creating price predictions. Optimal prices are determined in a 4-step process:
Start
2 months
