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Dynamic Pricing Engine

Pricing optimization provides brick and mortar, as well as online retailers, the ability to determine which items should be marked down, by how much should they be marked down, and when and in which markets, e-Commerce channels, stores or store clusters should it be done. Retailers can base this analysis on critical factors such as inventory levels, base sales volume, price elasticity, local demand or preferences and festive season sales. Retailers can develop and implement optimum pricing strategies at the local market level to maximize revenues and profitability, while at the same time, meeting their seasonal inventory goals.

LTI’s virtual analyst solution Leni’s cognitive engine is a part-rules/part-ML user feedback based self-learning module. It helps monitor discounts and sales and optimizes pricing for profitability or sales volume.

Key highlights

  • Estimates customer demand and optimize pricing by measuring price elasticities
  • Descriptive insights such as SKU having the highest unit margin, discounts and sales trends over years
  • Diagnostic insights such as reason for change in margins over the last year, if volume promotion on a brand increased the sales or not
  • Predictive insights such as prediction of decline in sales of an SKU if the price is reduced by a specific percentage, which products are suited for price optimization

Key benefits

  • Leni-led insights for revenue maximization
  • Higher inventory turnover
  • Effective discounting strategy during seasonal promotions

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