Pricing Lifecycle

The Pricing Lifecycle Optimisation solution by Profimetrics is a software solution designed to assist retailers in implementing effective pricing, promotions, and markdown strategies. According to the vendor, this solution caters to retailers of various sizes, from small businesses to large enterprises. It is aimed at pricing analysts, merchandisers, marketing professionals, and supply chain professionals in the retail industry.

Key Features

Pricing: According to the vendor, this solution allows retailers to merge data, pricing strategies, and optimization tactics to determine the appropriate price for each channel on a daily basis. The vendor claims that it provides price recommendations in a user-friendly language, ensuring price consistency across the entire company. It also offers simulation capabilities to measure the impact of pricing decisions on sales, margin, and price image before execution. The vendor states that it strategically responds to competitors' price changes and can improve revenue and gross margin by 2-6%.

Promotions: The vendor claims that this solution enables retailers to plan, forecast, and measure strategic promotions to maximize their marketing and promotional investments. It provides easy creation and management of promotions across different parts of the organization. The vendor states that the solution also offers simulation capabilities to forecast the best outcome and negotiate better deals with suppliers. It tracks and reports on changes or increases in promotion duration and can improve revenue and gross margin by 2-10%.

Markdowns: According to the vendor, this solution helps retailers clear inventory profitably and achieve sell-through goals through a cross-company approval workflow. It recommends the appropriate discount for each product, channel, and time to meet inventory and profit goals. The vendor claims that retailers can simulate alternative markdown and clearance scenarios and integrate with promotions to create a comprehensive company promotional plan. The solution measures ongoing effectiveness and adapts to trends on-the-fly by moving offers from one price step to another. The vendor states that it also provides return on investment (ROI) at the first markdown, ensuring year-over-year business benefits.