Competera, an AI-fueled pricing solution that enables retailers and brands to increase customer trust by setting and maintaining optimal price positions on a real-time basis, has been named a Best Retail Insights initiative by Vendors in Partnership (VIP) Awards.
On Friday, January 13, the VIP Awards, presented in partnership with the National Retail Federation (NRF) were announced in New York City as part of Retail's Big Show, NRF's annual flagship event.
In addition to celebrating industry-leading solutions, the awards recognize the solution providers powering today's retail ecosystem and highlight those companies whose teams develop meaningful, value-driven partnerships with their retail customers.
The Best Retail Insights Awards recognizes operational excellence in interpreting foundational business data for customers, pricing, financial across channels, responding to dynamic interactions, and delivering real value for the clients.
Competera was selected for its price optimization solution, helping its clients optimize pricing for over half a million SKUs while giving them a unified picture of their competitors, customer behavior, and a 360-degree overview of the market. In addition, by moving away from their manual approach to Competera's ML demand-based engine, they reduce the time spent on repricing by over 50%.
"We in Competera are beyond honored to be recognized by 2023 VIP Awards, as it once again confirms our commitment to developing the best-in-class products driving our clients' bottom line metrics notwithstanding the disruptive and highly competitive times" - Alex Galkin, CEO and founder of Competera.