Smart Pricing for Retail

Axiomra designed a pricing system for retailers. It looks at demand, stock levels, competitor prices and how new or old each product is.

It then suggests price changes for each product, or for each store. Every suggestion stays within your profit and pricing rules.

A retailer sells products where prices, demand and stock levels change often. Competitors change their prices often too.

Its pricing team could not keep up by hand, and wanted a faster and more consistent way to set prices.

• Price reviews took too long. Checking prices by hand was too slow for products whose demand changes quickly.
• Blanket discounts cost money. One discount rule for every store cut profit. It ignored local demand and how much stock was left.
• No consistent way to decide. The team had no reliable way to see how shoppers react to a price change, or what competitors were doing.
• Rules must never be broken. Every price had to follow the company's own pricing rules and the law.

• The system learns from your past prices, promotions, sales and stock. It works out how much each price change moves sales.
• For each product, it tests possible prices against your minimum profit, your pricing policies, competitor prices, how long stock has been sitting and how fast you need to sell it.
• Each suggestion shows its expected result and how sure the system is. Pricing managers can approve it, change it, or let small, low-risk changes happen on their own.
• Controlled tests compare stores or products with and without the new prices. That shows the real gain in profit, sales and stock sold.

What this setup is designed to change:

• Your prices react faster when demand or competitor prices change.
• A better balance between selling stock, total sales and profit.
• Targeted discounts where they help, instead of broad price cuts everywhere.
• Every price suggestion is recorded and follows your rules, so it can be checked later.