Optimal Pricing with Demand Prediction Analytics
E-commerce merchants are struggling in the highly competitive, real-time retail market as shoppers have full visibility on product prices - something merchants don't always have at the point of impression.
Last week at Shop.org, Retail intelligence solution Upstream Commerce released Predictive Pricer, a new automated price optimization solution that will enable retailers to set an optimal price based on "demand prediction" analytics.
"Using advanced statistical and predictive analytics capabilities, we developed pricing algorithms to tell retailers how to price right on any given day or event for optimal sales and profits," said Amos Peleg, Upstream Commerce CEO and Co-Founder.
"For the first time, retailers can benefit from one fully integrated suite that combines the best competitive intelligence data on the market with a predictive pricing engine that was built from the ground up to handle the extremely dynamic market. No other company provides such a solution," Peleg adds. "Along with our Dynamic Pricer™, lifecycle and promotional intelligence, as well as our Map Monitor™, we now offer the most complete solution to help retailers consider market conditions in their shopper-centric decisions."
A long and impressive list of companies currently use Upstream Commerce including Target, Walmart, Costco, CVS, Tesco and others.