The competitiveness and attractiveness of retail players hinge in particular on their price positioning.
The latter plays a key role in consumer choice.
Already in 2019, a survey conducted by Ipsos revealed that nearly six out of ten French people (58%) shop within a ten-euro margin, and one in eight (14%) are mindful of even a one-euro difference.
More than ever, knowing the right price is essential.
With Optimix Pricing Analytics, Optimix provides retail players with a user-friendly solution to achieve this.
Pricing Analytics: A modular suite for 360° coverage of pricing issues
Developing an optimal pricing strategy means mastering all the issues involved in pricing: competitive pressure, price positioning, purchasing power, margins, etc.
To achieve this, a retailer needs to provide the right answers to these issues.
In doing so, it gains access to accurate data that is consistent with the latest market trends.
Analyzing this data is the sine qua non for designing a highly effective pricing strategy.
It also makes it possible to forecast results more reliably, to ensure that the strategy defined will be the most effective.
To best meet the needs of the retail sector, Optimix has developed XPA (OptimiX Pricing Analytics), a comprehensive, ergonomic and modular software suite in SaaS mode.
It comprises nine interconnected modules, each providing a specific solution to a pricing issue:
- Online concurrent data capture (Web Data Collect)
- Offline competitor data capture (Scan In Store)
- Matching competing products
- Management of internal assortment consistency (Linking)
- Definition, execution and optimization of pricing strategies
(Pricing Analytics) - Promotions management (Promotions)
- Markdown management (Markdowns)
- Advanced functions based on AI (Intelligence Modelization Platform) algorithms, including :
- Evaluating and integrating sales elasticity ;
- Calculating cannibalization between brand types ;
- The proposal for automatic price updating under constraints;
- Business intelligence and reporting tool (Dashboard Design Studio)
An all-in-one, omnichannel software suite for every situation
Our ambition is to offer a complete, omnichannel solution.
Optimix Pricing Analytics adapts to :
- All channels: online and offline
- All pricing methodologies: by point of sale, by price range or by group of points of sale, etc.
- All sectors: food, bazaar, DIY, perfumery, parapharmacy, toys, etc.
- All types of organization: centralized, decentralized or mixed
- And all types of structure: branch, franchise, etc.
The Optimix Pricing Analytics suite is currently used in some twenty countries.
It controls the sales prices of over 5,500 stores.
Customers such as Auchan, Casino, Beauty Success, Les Comptoirs de la Bio, Pharmavie, Boticinal, Bricomarché and Bricorama use our suite on a daily basis.
Our software already incorporates the market’s best practices as standard.
If required, they can be fully customized.
In this case, the aim is to adapt to the context of the brand and the user: formulas, treatments, algorithms, ergonomics, vocabulary, etc.
Quick to learn for immediate results
For our customers, the added value of Optimix Pricing Analytics is twofold.
First and foremost, there’s the technical added value, as the suite enables you to manage large volumes of data in a flexible and ergonomic way.
The suite also offers functional added value.
Indeed, the 360° coverage, modularity and Best Practices supported by the standard enable rapid time-to-market.
What’s more, the dynamic workflow facilitates decision-making and operational responsiveness for users who design and deploy pricing strategies.
A retailer who uses our solutions to design and optimize its pricing strategy can see immediate ROI, as well as short-term performance gains on all its KPIs – sales, margin, positioning index, market share.
Under these conditions, Optimix Pricing Analytics allows you to deploy a rapid weapon against the competition.
The software suite relies heavily on artificial intelligence and advanced functionalities, such as elasticity and cannibalization, to maintain retailers’ competitive edge.
It impacts sales, margins, indices and market share.
By combining human and artificial intelligence, Optimix Pricing Analytics supports better sales decision-making, with more accurate data and more reliable sales forecasts, ensuring immediate reactivity and very short-term ROI.
