Competera, a leading pricing optimization software provider, is pleased to announce its new client, Rukavychka, a popular omnichannel retailer in Ukraine. Competera will help Rukavychka in the pricing transition, automating current pricing processes, and implementing a balanced pricing methodology.
The goals of the project are to ensure Rukavychka's profitability from all groups of goods in their assortment, consider demand elasticity and products cross-elasticities in pricing, and develop a unified systematic approach to pricing to overcome margin loss.
"We are excited to partner with Rukavychka and help them achieve their pricing optimization goals," said Alex Galkin, CEO and founder of Competera. "Our software is designed to address the challenges of pricing optimization for retailers, and we are confident that our approach will help Rukavychka increase their revenue while maintaining their margins."
Competera's pricing optimization software will help Rukavychka automate their current pricing processes, enabling them to make data-driven pricing decisions in real-time. The software considers both internal and external data sources, including competitor pricing, historical sales data, and product demand, to generate optimal prices for each product in the assortment.
The implementation of the balanced pricing methodology will ensure that Rukavychka's pricing is always optimized to achieve both revenue and margin goals, and that profit is maximized across all product groups.