Competera, a leading AI-fueled price optimization solution and 2023 NRF's VIP Awards winner, is proud to announce its new partnership with MarketDial, an in-store testing solution provider for brick-and-mortar retailers. Together, these two companies will bring unparalleled price optimization and testing capabilities to the market, helping retailers increase bottom-line metrics and improve customer sentiment.
Competera's cutting-edge solution uses deep learning algorithms to continuously calculate and re-quantify billions of possible price combinations and increase the enterprise clients' gross margin by 6%. At the same time, MarketDial’s machine-learning-powered software automates in-store-testing; in a matter of minutes, it can design and set up scientifically-backed test protocols, enabling retailers to test initiatives before rolling them out across their fleet. It also provides several tools to assist with data analysis once the test is complete, making everything from implementation, test execution, analysis, and decision-making a seamless process.
The partnership's main goal is to help retailers optimize their pricing strategies by offering clients a seamless onboarding experience with extended complimentary proof-of-concept periods to validate the ROI of their solutions. In addition, combining the MarketDial testing platform and Competera's AI-enabled pricing optimization will empower retailers to efficiently design, implement, and validate strategic pricing strategies before rolling them out at scale.
"We are thrilled to partner with MarketDial and bring their testing capabilities to our customers," said Alex Galkin, CEO and founder of Competera. "With MarketDial's platform, our customers can easily test and refine their pricing strategies in advance."
"We are excited about how this partnership with Competera and their AI-enabled pricing solution will empower seamless pricing optimization for retailers. Competera shares our ethos of seeking client input to drive their roadmap, and we look forward to working with them on more exciting developments in the future,” said Morgan Davis, CEO and co-founder of MarketDial.
Competera enables retailers and brands to increase customer trust by setting and maintaining optimal price positions on a real-time basis. Our deep learning algorithms increase our enterprise clients' gross margin by 6%, continuously calculating and re-quantifying billions of possible price combinations.
More than 100 leading companies and global brands rely on MarketDial to help create a culture of experimentation with an intentionally easy A/B in-store testing platform. MarketDial's simple interface makes asking, "What if?" the cost-effective protocol for intelligent action.