Efficient Revenue Management
With Dynamic Pricing

How to manage revenue with the help of dynamic pricing and demand forecasting
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Revenue management aims to forecast consumer demand, optimize inventory and maximize revenue growth using dynamic pricing.


How Can You Increase Revenue?

By changing the prices of goods using dynamic pricing strategy: according to the latest research by American economists, dynamic pricing increases revenue by 11%.

Revenue management with dynamic pricing helps the retailer to find a perfect balance between competition and profitability!





Retail Profitability

Profitability is the main indicator of a retailer's success for the long term. Even if at the moment the plan is to grab market share, bring a new product to the market, or get rid of a competitor. In the end, the goal is to maximize retail profits in the future.

To do this, it's important to monitor changes in the market, forecast demand, make decisions on products in time, and improve pricing.

Dynamic pricing platform

Revenue management is a cyclical process which consists of four stages that can be applied to pricing

Planning
Guarantee the achievement of goals
Reports
Process monitoring and analysis
Evaluation
Control and correction of the process
Interpretation
Understanding the business and getting the basis for further planning

Pricing is one of the most important details of the revenue
management mechanism, it must be flexible in order to adapt to changes in the market.

Profitability management is selling goods at the right time
to the right buyer at the right price.

Revenue management with dynamic pricing should consider:

  • pricing strategies of competitors
  • demand elasticity
  • retailer's business aims
  • conversion rates
  • traffic per SKU

Dynamic pricing balances between these factors and ensures the growth of profits due to the optimal prices.



How Can Competera
Help You Remain Profitable
and Competitive

Dynamic pricing allows for making a profit on regular changes in the market, taking into account internal factors (sale plans, costs, and supply) and external factors (competitor pricing and demand).



Dynamic pricing solutions



A full-fledged SaaS solution helps retailers monitor their competitors and implement the most effective dynamic pricing. Good software for repricing the goods must deliver quality data in a convenient form in order to make the right decisions.

Free Trial Request
Dynamic pricing and revenue management

Competera Offers such Benefits as:

Online fully automated competitor price tracking tool
Online fully automated competitor price tracking tool

eliminates days of manual work and possible human error

Collects and updates information as often as necessary
Collects and updates information as often as necessary

with flexible configurations which allow for custom time settings for different categories

Smart scraping technology that doesn’t trigger a website overload
Smart scraping technology that doesn’t trigger a website overload

24/7 technical support and client assistance
24/7 technical support
and client assistance

Email notifications and reports
Email notifications
and reports