Competera, an AI-powered pricing platform helping enterprise retailers to set optimal prices, was included in the Q4 2019 Now Tech Retail Planning report from Forrester Research that covers 25 Retail Planning, Pricing, and Promotion Providers.
Forrester, a leading global research and advisory firm, emphasizes the role of retail planning applications for retailers to better anticipate and meet customer demand. By planning applications, the firm implies "applications that apply the best mix of data, analytics, machine learning, AI, and human intuition to anticipate customer demand and create compelling assortments and campaigns. They also connect to sourcing and logistics to continuously synchronize inventory availability by channel and location with demand.”
Forrester included Competera in the report based on its market presence and functionality. The analysis aims at helping application development and delivery professionals evaluate the output from a retail planning provider and select one based on its size and functionality.
According to Forrester’s analyst and author of the report, George Lawrie, the continued digital disruption forced retailers to address new competitors, newly empowered customers, and an increased range of merchandise. Lawrie also adds: “Merchants and digital business leaders have reached the limit of retail planning and execution by instinct and art. They increasingly need software assistance, incorporating artificial intelligence and machine learning to plan assortments and allocate them to stores and fulfillment centers”.
“Forrester’s recognition of Competera as a representative vendor in the price and promotion market testifies that the company brings great value to the market in general and clients in particular. As Forrester pointed out in the report, pricing and promotion solutions like Competera can significantly improve customer experience by matching the right assortments with clients’ anticipations. Furthermore, advanced pricing and promotion solutions can boost retailers’ bottom-line metrics and Competera keeps proving this with each and every client success story,” comments on the achievement Alexandr Galkin, CEO and Co-Founder of Competera.
“As retail competition becomes increasingly saturated, the industry players cannot afford to neglect the implementation of AI- and ML-powered pricing and promotion solutions. It goes about business differentiation in today’s hyper-competitive retail landscape and accelerating sustainable business growth,’ adds Alexandr.