Challenge
Our client had issues with their pricing strategy and manual work associated with it.
Solution
Our solution to this problem was first to refine their pricing strategy from cost based to value based. We have also provided a profound analysis on competitors and the market fluctuations.
Our experts have then created an AI-based pricing tool which was automatically detecting value drivers for per product, classifying products according to their features into smart categories and afterwards suggesting a new price which was in line with their strategic goals and customer behaviour.
Result
Contribution margin was increased by 2%
Client - Global retailer
