RETAIL PRICING OPTIMIZATION

Nowadays, the right price is the new interface between retailers and shoppers, so effective pricing strategies are crucial for driving sales, enhancing customer loyalty, and maximizing profitability. At IRCG, we offer comprehensive solutions and a wide range of services designed to help businesses to implement next-generation dynamic pricing strategies that respond to market changes, consumer behavior, and competitive pressures.

We offer the most advanced solutions for retail pricing management and planning based on unique optimisation models using Artificial Intelligence

WHY DO YOU NEED TO BE MORE EFFECTIVE IN PRICING?

• margin optimization by properly set prices based on price elasticity and customer behavior

• reducеtion of margin erosion by automated regular reviews and adjustments

• optimisation average basket and checks by optimization of prices for KVIs and cross sales items

• competitiveness through the ability to take into account all internal and external factors

• adaptation to market trends by continuous monitoring and analysis of market data

• channel or cluster-level price management for granular price optimisation

OUR SOLUTIONS

We partner with leading software vendors to deliver a comprehensive range of functionalities and capabilities tailored for Retail, Distribution, and Wholesale businesses.

Pricing Platform

Full-fledged platform for dynamic price management of regular and promotional assortments

Competitive Data

Solution for monitoring and collecting data around competitors prices

With our solution you can take into account any external and internal factors, as well as financial and non-financial goals to plan optimal prices, and the intelligent engine will help you predict the outcome of changes

WHAT BENEFITS WILL YOUR BUSINESS GET?

• price management across channels and at the shop level

• gross margin growth 

• overall basket sales growth

• attracting additional traffic

• growth in customer segments 

• high level of automation

Accurate & coordinated pricing to maintain loyalty

Pricing each product for each channel is a challenge. Pricing errors or conflicts put customer loyalty at risk and affect sales. We provide retailers with powerful solutions for price management & routine automation to  orchestrate pricing in real time based on custom pricing rules.

Consider all factors that impacts your pricing

Price optimization is an art and a science. Retailers make the best price decisions considering all factors, such as customer behavior, projected demand, assortment, competition, and more. We help retailers optimize prices by analyzing the impact of price changes on several scenarios and various business goals, to determine the ideal pricing plan for a group of products and to provide transparency of pricing across the organization.

Implementation of pricing strategies for all retail channels

Price optimization is valuable in itself, but retailers achieve maximum benefits when price optimization is synchronized across all sales channels. When using, in combination with other solutions on the retail platform of tools offered by International Retail Consulting Group, as well as in combination with your execution system, the retailer will have full control over the management and implementation of the optimized pricing policy across all channels