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
Optimal Price Recommendations
Our price suggestions are optimal: not too high, but also not too low. Smart price optimization on your fingertips.
Lifecycle-Based Pricing
Pricing is based on the real product life cycle. Pricing optimization software provides you with relevant data.
Diverse Pricing Scenarios
Different price scenarios are provided. Create and improve your own best pricing strategies.
Price Optimization Software
Achieve repeatable success with our highly precise price optimization and management models. Our software enables retail teams to track progress, get insightful recommendations for efficient strategies, and ultimately, meet their objectives.
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Step 1: Experiment and Succeed
Discover the effects of your decisions on both margins and unit sales. Experiment with various pricing strategies without endangering your business. The initial step towards optimal pricing is through learning and adapting.
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Step 2: Accelerate Towards Optimal Pricing
Re-assess and adjust your strategies up to five times faster, freeing up to 40 hours per month. This speed and efficiency paves the way to your path of optimal pricing.
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Step 3: Refine and Achieve
Implement your optimized pricing strategies and monitor the outcomes. Use the feedback to continually refine your approach and achieve your retail goals. This final step ensures your pricing strategies are ever-evolving and improving.
Your business, your rules
Smart price optimization recommends goals based on your goals and constraints. You can customize parameters, revaluation steps, and stop-lists that block revaluation for specific items or categories, and other specific rules.
Scalable solutions for any business
Use targeted and elastic pricing for your entire product range. With our software, you can reprice products at any level, from individual categories or stores to countries and regions.
Increase profits with price data
According to an eMarketer survey about price optimization, 49.3% of respondents believe predictive analytics and modeling is the most effective method of increasing profits with price and product data. To better understand how our high-end predictive pricing solution will allow your company to thrive in the marketplace, we offer an analysis of the challenges retailers face in predicting prices and how machine learning algorithms can make the pricing process more efficient.
Predictive analytics: The basics
The principle of predictive pricing can be expressed generally in a simple equation: how price affects demand. Some retailers use Excel spreadsheets to solve the equation for individual products. This approach, however, doesn't work when 5,000 to 10,000 items need to be re-priced.
What You Should Consider When Pricing
With the heyday of online commerce, predictive pricing needs much more data than an Excel spreadsheet provides. Here's a list of a few pricing factors that are often neglected in rule-based pricing:
The price equation no longer seems so simple. That's why retailers are increasingly using machine learning algorithms to automate and take into account a huge amount of diverse data to put out optimal prices.
- Demand. Since customer demand is non-linear, raising prices may have absolutely no effect on demand. Lower prices, on the other hand, will have a strong effect on demand.
- Psychological Pricing. Buyers perceive price changes from $7 to $9 and from $9 to $11 very differently.
- Competitors. The actions of your competitors can also affect your sales.
The price equation no longer seems so simple. That's why retailers are increasingly using machine learning algorithms to automate and take into account a huge amount of diverse data to put out optimal prices.
Predictive Pricing with Machine Learning
A predictive pricing platform "learns" to take into account all the factors that affect prices based on historical data. New algorithms determine how prices react to changes in price factors in different pricing situations to accurately predict optimal prices under all circumstances.
Our predictive analytics solution for prices predicts changes in demand volume to determine the right prices at the right time. Using accurate forecasts of pricing that match reality, retailers can increase their sales and margins.
Our new competitive price algorithm has shown excellent results in the field. Companies that used our solution increased their profits by 15% and sales by 2.7%. These figures are all the more impressive given the performance of the control group (where prices were set without the algorithm): a 2.4% increase in profit and a 5.1% drop in sales.
Our new competitive price algorithm has shown excellent results in the field. Companies that used our solution increased their profits by 15% and sales by 2.7%. These figures are all the more impressive given the performance of the control group (where prices were set without the algorithm): a 2.4% increase in profit and a 5.1% drop in sales.
Who Should Use It?
Our software is a powerful ROI solution designed for product market repricing. It's versatile, handling a range of contexts from specific competitor stores and hypermarkets to countries and continents. Price optimization tools program is an excellent choice across various sectors. Its user-friendly interface and array of algorithms allow even beginners to become proficient quickly.
Price optimization boosts your sales in a short timeframe. Our solutions and strategies are data-driven, with information updated regularly. We have a proven track record of propelling diverse retailers to success. Experience the power of effective price optimization with our software.
- B2C retailers in offline shops
- Retailers in online shops and marketplaces
- Retailers that deal with many brands at the same time
Empower Your Business with Priceva's Price Tracking Solution
Take charge of your pricing strategy with Priceva's powerful price tracking tools.
Pricing and Plans
Business
Pro
Designed for businesses with advanced pricing needs
$99
/month
Starter
- Monitor up to 20 sites/competitors
- Manually upload your product links or batch import
- Manual and Automated Repricing module
- MAP monitor module
- Price, availability, and discount change notifications
$199
FREE
/month
- All Starter features
- Monitor up to 30 sites/competitors
- 35,000 price checks per month
- Additional data collection
- Price monitoring in different currencies
- Unit conversion, packaging conversion using formulas
Enterprise
Contact us
- All Business features
- Monitor up to 40 sites/competitors
- 100,000 price checks per month
- Customizable monitoring frequency
- User management
- Protected sites scanning
- Data export via feeds in CSV, XML, JSON formats
Tailored to meet the unique needs of large-scale businesses.
- All Pro features
- Custom set of features
- Custom contracts & invoicing
- High-performance builds with SLAs
- Premium Support
/no credit card needed
Ideal for growing businesses that need more comprehensive features
Explore our service with the trial plan, which includes managing up to 20 products
Useful Price Optimization Resources
A wide range of famous and successful companies have been working with us. They have enjoyed an incredible growth in sales over a short period of time by using the price optimization and management tools.
Vileda Case: Streamlining Company-wide Pricing Transparency
Discover Vileda's journey with Priceva, harnessing monitoring tool for their innovative cleaning range. Insights from Vileda's key account and territory managers highlight the transformation.
Learn more
Abbott Case: How Price Monitoring Boosts Long-Term Product Sales
Explore Abbott Nutrition's strategic use of price and stock level monitoring for effective long-term planning, featuring insights from their E-commerce Head.
Learn more
Arc Case: Optimizing Efficiency through MSRP Monitoring
Discover how Arc Company's Consumer Goods division enhances efficiency and transparency by monitoring the Manufacturer's Suggested Retail Price (MSRP), underscoring its importance and impact.
Learn more
P2Pet Case: Driving Sales Growth through Competitive Pricing
Uncover the expansive P2Pet project, an all-in-one pet care ecosystem. Learn how daily tracking of their 4000+ product range fuels their sales growth and market strategy.
Learn more
Frequently Asked Questions
It is a special computer program that helps retailers optimize the prices of products. Solutions are based on data analysis.
Yes, it is necessary if you are a retailer. It is useful both for beginners and for retailers with a lot of experience.
Pricing software helps to optimize prices and minimize losses in retail trade. It helps retailers set prices according to current price trends.
No, it is quite easy. The AI interface is simple and user friendly.
At the moment we don’t have free testing opportunities. But they will be available in the near future.
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