Maximum margins by dynamic price optimisation

Optimise your margins through the automatic real-time adjustment of prices on the basis of measured price elasticity and the systematic acceptance testing of price changes.

Each product has its price. So the saying goes. Today, this is only partly true. Rigidly maintaining a particular price over a long time period can make inroads into a retailer's earnings. Solutions employing algorithms enable a business to vary its prices continuously and to test price acceptance in real-time.

They find the optimum product price for a particular time period and also take into account the influence of numerous other factors. This method ensures that prices are adjusted in continuation in real-time to take into account the continuous changes in market and business conditions.

What criteria are used to adjust prices? These are the most frequent factors influencing price adjustments:

• Customer purchasing behavior
• Sales skills
• Value patterns for fresh products
• Product availability

Dynamic price optimisation is an ideal method for maximising turnover and earnings. You can also maximise more complex references. Prices which have remained practically unchanged for a long time can now be varied in a planned and targeted manner in order to provide valuable information about price elasticity.