Pricing Automation for retailers

Reduce repricing time by at least 50% and shift to flexible, transparent, and controllable process with:

  • Automated real-time & batched repricing
  • Self-service pricing configuration built on any variables
  • Complete transparency of price crafting on SKU level
  • Customizable alerting system
Pricing automation Dashboard Pricing automation Dashboard data

Competera helps retailers to cover every pricing need

Pricing automation fits best online and omnichannel retailers with large teams and 200 000+ prices under management.

Cost-plus

Cost-plus

Margin-centric

Ad hoc repricing

Human-driven decision

Market-driven

Market-driven

Competitor-centric pricing triggered by market changes

Regular repricing

Constant manual check

Data dependence

Rule-based

Rule-based

Based on rules and business constraints

Automated real-time repricing

Human-supervised

Market-share focused

Elasticity-based

Elasticity-based

Mix of rules & demand-based pricing

Goal-oriented repricing

Manager as a strategist

Portfolio coverage

Personalized

Personalized

Shopper-centric pricing

Individual offers based on LTV

Balance between customer demand and business goal

Cost-plus

Cost-plus

Margin-centric

Ad hoc repricing

Human-driven decision

Market-driven

Market-driven

Competitor-centric pricing triggered by market changes

Regular repricing

Constant manual check

Data dependence

Rule-based

Rule-based

Based on rules and business constraints

Automated real-time repricing

Human-supervised

Market-share focused

Elasticity-based

Elasticity-based

Mix of rules & demand-based pricing

Goal-oriented repricing

Manager as a strategist

Portfolio coverage

Personalized

Personalized

Shopper-centric pricing

Individual offers based on LTV

Balance between customer demand and business goal

Competera Pricing Platform

Competera Pricing Platform

A unified workplace with an easy-to-use interface

What Is Pricing Automation?

Pricing Automation, at its core, is the use of advanced software to automate the process of pricing products. This enables businesses to change, define, and execute their pricing strategies effectively, significantly reducing human effort and eliminating errors. The advent of pricing automation has redefined how retailers establish their prices, allowing them to respond swiftly to external or internal triggers and maximize profit.

Competera’s Pricing Automation service is an embodiment of this technology. With a clear focus on coherence, speed, and flexibility, this automated pricing system offers tailored pricing logic to harmonize pricing across all products and channels. It is a cloud-based service with defined workflows, which allows retailers to easily manage their pricing processes and understand the cause & effect analysis of every price change.

The Price Automation Process

The pricing automation process begins with the integration of various datasets, such as product lists, current prices, competitive data, and other factors used in pricing rules like stock levels, sales volumes, e-commerce traffic, and planned pricing activities. These datasets are processed and analyzed in detail by the automated pricing system.

The process further involves a self-service pricing configuration with preset and customizable rules, ensuring that prices are determined based on the retailer's specific needs and market dynamics. The software also offers optimal workflows for different user roles, with an easy-to-use interface and real-time and batched repricing initiated by changes in cost, competition, or other factors.

With Competera's Pricing Automation, every SKU-level price interpretation comes with a forecast projection and a playground for what-if scenarios, providing retailers with the tools they need to develop powerful and controlled pricing strategies. Furthermore, the system allows for price recommendations to be exported in any format, facilitating easier integration with your existing systems.

Should Pricing Infrastructure Be Fully Automated?

In the age of e-commerce and digital transformation, having an automated pricing infrastructure can offer numerous benefits. However, the extent of automation often depends on the complexity of your pricing process and the specific needs of your business.

Pricing Automation is designed to reduce pricing efforts by at least 50%, all while ensuring absolute transparency of pricing moves made in the past and forecasting effects in the future. This automated repricing tool offers the flexibility for retailers to maintain control over their pricing strategies, while still benefiting from the efficiencies of automation. This balance between automation and control allows businesses to retain their strategic pricing decision-making, while leveraging the power of automation to execute their pricing strategy more efficiently.

Develop More Powerful and Controlled Pricing Strategies

With pricing being a key factor that drives customer purchase decisions, the ability to develop powerful and controlled pricing strategies is vital. Pricing Automation systems, like Competera's, provide businesses with the tools to create pricing strategies that are not only more responsive but also more profitable.

Whether you're looking for an automatic repricing tool or a complete pricing automation system, Competera's Pricing Automation service is a comprehensive solution that offers both flexibility and control. It allows businesses to redefine their pricing workflows, leverage detailed insights, and ensure their pricing strategy is as profitable as possible. With a time-to-value of just two weeks, Competera's Pricing Automation is the right choice for businesses looking to take their pricing strategy to the next level.

Getting started in 2 weeks

Just 3 steps to start using Price Automation and reprice thousands of your SKUs twice faster.

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Integrate data

Step 1. Data includes product list, current prices, competitive data or other data used in pricing rules (e.g. stock levels, sales volumes, eCommerce traffic, promotions, etc)

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Configure repricing

Step 2. Design pricing rules using preset or/and custom logic and constraints to execute pricing strategy per every product segment

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Reprice effortlessly

Step 3. Enjoy full automation of workflows, approve new prices, resolve alerts, check calculations, and evaluate business impact of every pricing scenario before applying it

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Export prices

in a format digestible by other systems

Start

2 Weeks

Save time and reduce efforts by shifting to automated real-time & batched repricing

Automation makes repricing at least 50% faster while reducing the risk of human mistakes. As any changes in data occur, repricing of a product group or separate SKU can be done either in real-time or it can be processed in batches.

A user-friendly interface with optimized workflows will save time and reduce the efforts of every stakeholder involved in pricing. The custom export formats ensure the flawless integration of new prices to existing systems.

Save time and reduce efforts

Enjoy flexibility with self-service pricing configuration

To implement pricing strategy and tactics, you can set up a tailor-crafted pricing configuration which can be easily adjusted to changing trends or business needs.

Pricing logic can be set upon any data including competitive data from direct sellers or marketplaces (e.g. Amazon, Google shopping, other price comparison sites), sales, cost data, sell-through rate, promotion or stock levels, etc.

Enjoy flexibility

Make pricing transparent
for every stakeholder

SKU-level price interpretation explains how a particular price was calculated so stakeholders (pricing analysts, their managers, buyers, merchandisers, category managers, etc) understand how each decision was made.

Before applying new approaches, users can also get the results’ projection of every pricing scenario. To make better decisions and get a full market view, employees can visualize the change history of their own and competitors' prices.

Make pricing transparent

Get full control over your pricing with a library of pricing rules and custom workflows

Use pricing rules from our preset library or create your own to easily manage repricing across all sales channels, stores, and pricing zones. Any data available to the system can be used as a variable in the pricing logic (e.g. competitive information, stocks levels, sale-through rates, etc).

The system can notify you about important events that require your attention. Our team can help to set up corresponding workflows to support your business needs and ecommerce pricing strategies.

Get full control

What does pricing automation include?

Automatic platform optimization price features allow each pricing team to play by their own rules, selecting the right functions when you need them.

Self-service pricing configuration with preset and customizable rules

Optimal workflows for different user roles with an easy-to-use interface

Real-time and batched repricing driven by specific events or data changes

SKU-level price interpretation with pricing scenario results projection

Own and competitive price history and audit trail mode

Custom export formats for easy integration with your current systems

Best Analytics / BI Solutions

E-commerce Germany award

Price Optimization Solutions

Constellation

Trusted Vendor 2022

Crozdesk

Top 3 startups at the AI Summit

London Tech Week

Now Tech: Pricing and Promotion

Forrester

G2 High Performer 2022

G2 Crowd