Pricing Strategy
Natively integrated into our solution, the pricing strategy management module is the heart and soul of our tool.
The collection, matching and linking stages are necessary to clean and prepare your data, ensuring that it is ready for use in our pricing algorithms.
Our pricing solution is ready to use as soon as it is deployed, offering efficient standardization. What’s more, it can be tailored to the specific needs of your company and your market.
Unlimited creation of pricing management rules
Create customized pricing rules based on criteria such as costs, margins, market trends and sales volumes. In addition, our module makes it easy to manage an unlimited number of pricing rules to adjust your prices according to your business strategy and specific objectives.
Additionally, using mass price change rules based on predefined parameters, while therefore providing the flexibility to manually adjust prices per product and per store. Retailers can achieve the perfect balance between operational efficiency and fine-tuned decision-making. This guarantees them optimal responsiveness to changing market dynamics.
A catalog of management rules and statistical models at your disposal
Our solution includes a fairly comprehensive catalog of management rules and statistical models based on market best practices. In addition, you have access to a variety of rules for alignment, margins, sales price evolution, etc. Indeed, these rules and models are designed to help you optimize your prices. They take into account the relevant factors of the market and your business.
"Best fit" algorithmic modules
Our solution uses advanced algorithms, such as “best fit“, to optimize prices. Taking your goals into account, it evaluates historical data, market trends and product costs. So make informed decisions to maximize revenue, reduce price gaps and optimize margins.
Versatile price management module
In just a few clicks, you can choose to use the full version of the solution at the central level, for example, or opt for a lighter version deployed at store level. This offers you maximum flexibility without requiring specific developments.
Product assortment segmentation
Segment your product assortment according to various axes of analysis such as department, competitors, brands, clusters, and more. This segmentation enables you to better understand your different product segments and adjust your pricing strategies accordingly.
Definition and application of price rankings
Choose price ranks for each store, cluster or product family. These price ranks help you manage price variations and apply consistent pricing strategies across your entire distribution network.
Our module facilitates price assembly by grouping products according to specific criteria.
Create consistent sets of products for which you want to apply similar pricing strategies. Efficiently manage your assortment and ensure appropriate pricing for each product group.
Margin maintenance and compensation
Ensure the preservation of your profit margin by effectively maintaining and compensating it when implementing strategies across various product categories. Intelligently adapt prices while safeguarding your overall profit margin.
Elasticity calculations
Our module incorporates elasticity calculations to assess the sensitivity of prices to demand. This enables you to understand how price variations can influence sales volumes, and adjust your pricing strategies accordingly.
Validation workflow
Our solution provides a comprehensive validation workflow, enabling seamless collaboration between pricers, category managers, and management. With the ability to define validation steps and assign clear responsibilities, you can ensure the consistent approval of pricing decisions.
Category-based competitor identification
Easily identify competitors within each product category. By continuously monitoring and analyzing the competition, you can get insights into their pricing positioning and make necessary adjustments to your strategy. Stay informed and adapt your approach accordingly
Pricing positioning analysis
Conduct a comprehensive analysis of your competitors’ pricing positioning. Gather and structure the price data of your competitors, and assess their pricing to compare it with your own offerings.
Price sensitivity measurement by category
Analyze sales data and assess how price changes affect demand. This understanding of price sensitivity enables you to define more precise pricing strategies and optimize your profit margins.
Identification of marketing levers impacting price
Identify the marketing levers that influence product pricing. Analyze factors such as branding, promotions, advertising campaigns and other marketing initiatives to understand their impact on pricing. Adjust your pricing strategies in line with these levers to maximize your sales results.
Establishment of rules and control procedures
Define customized rules and controls to adjust your pricing. Set specific criteria such as target margins, price ceilings, allowed promotions, etc. These rules and controls ensure consistency and compliance in your pricing decisions.
Import of External Data
Import relevant external data and integrate it with your data from sources such as suppliers, price databases, market studies, etc. This integration enables comprehensive analysis and empowers you to make informed decisions based on the latest information.
Simulations and Iterations
Perform simulations and successive iterations to evaluate different pricing strategies. Conduct tests with different assumptions, fine-tune price variables, and analyze the outcomes of each simulation. This helps refine your approach and find the optimal pricing strategy.
KPIs and custom dashboards
Create customized dashboards to track and analyze metrics such as margins, sales, profitability, price sensitivity, etc. These dashboards give you a clear view of the performance of your pricing strategy.
Evaluation of the most relevant versions
Evaluate different versions of your pricing strategy and determine the most relevant ones. Compare results, analyze performance, and make informed decisions on which version to implement. This evaluation therefore helps you to continually optimize your pricing approach.
Definition of automatic execution scheduling
Define an automatic execution schedule for your pricing strategies. Additionally configure rules to automate pricing updates at specific times, based on your business needs. So save time and ensure regular execution of your strategies.
Simulated price control and alerts
Our module includes simulated price monitoring and alerts features. Indeed, you can carry out pricing simulations to assess the potential impacts on your products, then check the simulated prices before their application. Additionally, in the event of a significant deviation or irregularity, our solution can generate alerts to inform you and allow you to take necessary action.
Supervision and treatment history
Follow the progress of treatments in real time, check for possible errors and access a detailed history of each operation carried out. In addition, this functionality allows you to maintain control and guarantee the integrity of your pricing data.
Export of the prices to your back-office
Finally, easily export validated prices to your back office and generate files compatible with your existing infrastructure for smooth integration of prices into your management system. This makes it easier to update prices across all of your sales channels and ensures consistency of pricing information.
Testimonials
« Optimix XPA is a very interesting tool. It has already allowed me to identify and correct pricing anomalies shortly after taking over my new store in Nice. I have just discovered that I can automate the generation of my analysis projects. I can't wait to use it for my other local stores. »
« Optimix is a highly effective pricing tool that enables us to adapt our pricing to our competitive context and margin objectives. Optimix offers the option to work at the item, category, or even based on national top sales, either individually or simultaneously, as well as on private label products, national brands, and regional products. »
« The Optimix Pricing XPA solution enables us to track the daily fluctuations in internal purchase prices as well as our competitors' selling prices so we can swiftly adapt our pricing strategy to ensure we achieve our desired margin or gain a competitive edge in the market. »
*6 months after deployment in 45 stores.
They trust us
