Pricing Strategy Solution
This module is the heart of our solution, enabling the creation and management of customized pricing rules based on your costs, margins, market trends and sales volumes.
It also integrates AI to adjust your prices in line with your sales strategy and objectives.
Create unlimited pricing rules
Our module makes it easy to manage an unlimited number of pricing rules to adjust your prices according to your sales strategy and specific objectives.
Create customized pricing rules based on criteria such as costs, margins, market trends and sales volumes.
Use mass price modification rules based on predefined parameters, while giving you the flexibility tomanually adjust prices by product and by store.
Elasticity calculations
Our module integrates 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.
Analyze your price positioning
Carry out a detailed analysis of your competitors’ price positioning.
Collect and organize pricing data from your competitors, and evaluate their pricing to compare their offers with yours.
*6 months after deployment in 45 stores.
Segment your product ranges
Segment your product assortment according to various analysis axes 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.
Track your KPIs with customized 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.
AI and best-fit algorithmic models
Our solution uses advanced algorithms, such as“best fit“, to optimize prices. By taking into account the the goals you have in mind, it evaluates historical data, market trends and product costs.
Take informed decisions to maximize revenue, reduce price gaps and optimize margins.
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. »
« With the Optimix XPA solution, Bureau Vallée reduced errors, optimized competitive analysis (BtoB/BtoC) and refined planogram preparation, thus gaining in productivity. In 9 months, the ROI was achieved: the business teams halved their alignment time, linking over 12,000 products in 3 minutes. A real performance driver for the retailer. »
« Optimix significantly improved our pricing management, enabling smoother operations and faster implementation without issues. The solution adapts to our evolving needs, thanks to continuous development and tailored functionalities. The implementation process was seamless, with exceptional support: rapid responses, quick issue resolution, and a deep understanding of business needs. Optimix has proven to be an invaluable partner in optimizing our processes. »
« Optimix XPA has transformed our pricing strategy thanks to precise analyses and enhanced responsiveness. Change management support was key, with effective team training for rapid adoption. The result: significant time savings on time-consuming tasks, enabling teams to concentrate on high value-added actions. »
Pricing Strategy
FAQ 1 : How does OptimiX adapt its Pricing Solution to the specificities of my network / organization?
OptimiX XPA, the pricing solution, is compatible with all types of network (integrated/franchised/hybrid) and meets both offline and online constraints (store network, pure player, omnichannel strategy).
Our standard includes settings that suit all these scenarios, without specific developments.
FAQ 2 : Why is it important to have a solid pricing strategy in retail?
–he price is often one of the main considerations for consumers when they decide to buy a product. Having a well-defined pricing strategy allows you to set competitive prices, while guaranteeing the profitability of the company. Additionally, in a dynamic market environment where trends are changing rapidly, such as during periods of pandemic, inflation or turmoil, a flexible and responsive pricing strategy is essential to keep up with these developments.
For example, XPA’s Pricing Strategy Management module provides such flexibility, allowing retailers to quickly adjust their prices in response to changing market dynamics.
Finally, a solid pricing strategy, based on reliable data and detailed analyses, guarantees informed decision-making, maximizes revenues, reduces price gaps and optimizes margins.
FAQ 3 : How do you determine product sales prices as part of a pricing strategy?
Determining sales prices as part of a pricing strategy requires a systematic approach. It is essential to collect, clean and prepare relevant data so that it is ready for use in pricing algorithms.
Tools like XPA offer modules dedicated to these steps. Once the data is prepared, it can be analyzed using advanced algorithms, such as “best fit”, to optimize pricing taking into account business objectives, historical data, market trends and product costs.
Businesses can also define custom pricing rules based on criteria such as costs, margins, market trends, and sales volumes.
FAQ 4: How can a pricing strategy contribute to customer loyalty?
An effective pricing strategy can greatly contribute to customer loyalty. By offering adapted and competitive pricing, customers perceive added value.
If customers feel they are getting good value for their money, they are more likely to return. Additionally, a flexible pricing strategy allows retailers to quickly adapt to changing market dynamics, ensuring that prices remain competitive even during turbulent times.
In addition, the use of tools such as XPA enables retailers to adjust their prices in line with market trends, costs, margins and other relevant criteria, ensuring that prices always reflect the current value of the product.
FAQ 5: What are the 5 main pricing strategies?
- Market penetration strategy
Adopted when launching a new product in a competitive market, it consists of setting a price lower than that of the competition to quickly attract a large customer base. However, strong customer loyalty is essential to maintain engagement when the price subsequently increases.
- Skimming strategy
This policy sets high prices for new products, targeting customers with high purchasing power or facing low competition. With market saturation, the price can be reduced to attract other segments.
- Value-Based Pricing Strategy
The price is determined based on the value perceived by consumers. It is suitable for luxury products, or those with distinctive characteristics, allowing them to capitalize on their unique aspects.
- Competition-based pricing strategy
This strategy takes into account the prices charged by competitors. Under this method, companies can choose to set their prices slightly below, at the same level or slightly above those of their competitors, requiring constant market monitoring.
- Cost-plus pricing strategy
Simple and straightforward, it consists of adding a percentage of profit to the total costs of producing a product. Although this method does not take competitive positioning into account, it ensures that all costs are covered.
Optimize Your Pricing Strategies with AI and our Expertise !
Competitors’ Prices Collect via in-store Surveys and/or Webscraping – Matching & Linking Products with respect of Your Range Consistency –
Unlimited Smart Pricing Rules creation – Elasticity & AI calculations – Sales simulations & Dashboards
