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Description

Optimizing Pricing for Profit, Gaining Insights on Competitor Pricing, and Forecasting Demand are all enhanced through the use of AI and Machine Learning technologies. This approach resulted in a remarkable 14.4% increase in sales for a popular American casual apparel brand due to more effective pricing strategies. By employing Intelligent Demand Forecasting, we merge the strengths of machine learning with human expertise, taking into account various factors such as local events, holidays, back-to-school periods, school closures, community festivals, social signals, and broader economic indicators. Our services encompass Demand Forecasting, Store Ordering, Purchase Order Recommendations, and efficient Shelf Space Allocation & Optimization, all backed by Continuous Monitoring and Improvement processes. Additionally, we focus on Intelligent Pricing to achieve better sales realization and enhanced profit margins. By analyzing price elasticity based on product, location, and time, we can strategically determine appropriate mark-ups or markdowns. Our Differential Pricing Strategies are designed to prevent a downward pricing spiral, and we utilize A/B testing to validate our methods and results effectively. Ultimately, our comprehensive approach not only supports immediate sales goals but also fosters long-term growth and sustainability in the competitive market.

Description

Elevating AI pricing strategies to unprecedented levels, we empower retailers and consumer packaged goods partners to implement optimal pricing, promotions, and markdowns essential for flourishing in today's fiercely competitive retail environment. The COVID-19 pandemic has transformed the retail landscape, necessitating a radical rethinking of conventional planning, pricing, and promotional strategies. This special report provides insights on effectively catering to the needs of future consumers. By leveraging unified and interconnected data sources, commerce systems, and collaborative teams, businesses can enhance supplier cooperation through consumer analytics and insights. The integration of cutting-edge and adaptable data science allows for seamless compatibility with various analytical platforms. Moreover, this approach enables a comprehensive understanding of shopper demand in relation to pricing, promotions, and markdowns. With the backing of AI, data science, and advanced predictive and prescriptive analytics, businesses can achieve highly accurate forecasting tailored to market fluctuations. Ultimately, these innovations pave the way for retailers to not only adapt to change but also thrive amidst it.

API Access

Has API No 

API Access

Has API No 

Screenshots View All

Screenshots View All

Integrations

No details available.

Integrations

No details available.

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Pricing Details

No price information available.
Free Trial Yes 
Free Version No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Customer Support

Business Hours Yes 
Live Rep (24/7) Yes 
Online Support Yes 

Types of Training

Training Docs No 
Webinars No 
Live Training (Online) No 
In Person Yes 

Types of Training

Training Docs Yes 
Webinars Yes 
Live Training (Online) Yes 
In Person Yes 

Vendor Details

Company Name

NextOrbit

Founded

2014

Country

India

Website

www.nextorbit.com/en/

Vendor Details

Company Name

Acoustic

Founded

2019

Country

United States

Website

www.demandtec.com

Product Features

Demand Planning

Capacity Planning Yes 
Data Visualization Yes 
Historical Reporting Yes 
Inventory Optimization Yes 
Planned vs Actual Tracking Yes 
Product Introduction Planning Yes 
Promotions Management No 
Replenishment Management Yes 
Sales Forecasting Yes 
Supply Forecasting Yes 

Product Features

Pricing Optimization

Channel Analysis Yes 
Competing Product Analysis Yes 
Forecasting Yes 
Market Analysis Yes 
Multi-Store Management Yes 
Price List Management Yes 
Price Optimization Automation Yes 
Pricing Analytics Yes 
Profitability Analysis Yes 
Scenario Planning Yes 

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