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Retail Price Optimization
We offer you innovative tools for optimizing your retail prices:
  • We base our recommendations on the elasticity of demand
  • You can solve several important tasks at once
  • Our pricing information is based on real facts

Powerful Features

Our price suggestions are optimal: not too high, but also not too low
Pricing is based on the real product life cycle
Different price scenarios are provided

Price Optimization for Retail

We use artificial intelligence to select the best price solutions

Data-driven

approach

Price decisions are made on the basis of data, not intuition or personal experience
Using the data to optimise
We use data from sales history, residuals and product catalogue information

Optimising business KPIs
Setting up an algorithm to maximise sales, revenue or profit

Who Should Use It?

It is an efficient ROI solution for product market repricing. Many levels are available, from specific competitor stores and hypermarkets to even countries and continents. In certain areas, this software is the best option. Even beginners who don’t have any experience working with this program will be able to master the software, thanks to the user-friendly interface and great variety of algorithms. Price optimization will help you increase your sales in a short time period. Solutions and strategies are based on data that is refreshed regularly. We have already propelled a wide range of retailers to success.

B2C retailers in offline shops
Retailers in online shops and marketplaces
Retailers that deal with many brands at the same time

How it works

Defining targets

We hold a briefing to set the objective: what results in terms of which business indicators we plan to achieve through price optimization. We build a pricing strategy.

Analyse the historical data set

Relevant analysis is possible if qualitative data on sales over a period of 1.5 years or more are available.

Constructing a multi-factor demand model

Determine demand structure, volume, dynamics, and price elasticity.

Constructing an influence matrix

Identify dependencies between commodities and understand how cannibalization works. Identify KVI commodities.

Teaching the model

Making sales forecasts assuming different prices

Choosing the best price solution

Among all price options, choose the best prices to achieve the target KPIs.

Providing training for the model

To increase accuracy, we carry out the prediction before training the model on the new data
What data do we use in retail pricing software?

See how demand behaves -
choose the best prices

Ready to get started?
Get a free demo project
How the price optimization for retailers
process looks like?
The time in different phases may vary from project to project, here are average numbers
1

3 days

Business analysis: setting goals, planning the pricing program
2
1 week
Data: collection and validation ...............
3
1 week
Data: processing ................................................
4
2 weeks
Model: Model training, evaluation of results
5
12 weeks
Pilot project: pricing
on part of the range measure the result
6
2 weeks
Implementation: Implementing for the entire range, consulting about price optimization software

Frequently Asked Questions

What is pricing optimization software?
It is a special computer program that helps retailers optimize the prices of products. Solutions are based on data analysis.
Do I need price optimization software?
Yes, it is necessary if you are a retailer. It is useful both for beginners and for retailers with a lot of experience.
What are the benefits of using pricing software?
Pricing software helps to optimize prices and minimize losses in retail trade. It helps retailers set prices according to current price trends. 
Is it difficult to use Priceva's price optimization software?
No, it is quite easy. The AI interface is simple and user friendly.
Can I test Priceva price optimization software before I buy?
At the moment we don’t have free testing opportunities. But they will be available in the near future.