Retailers performance and attractivity revolve around their price positioning, which holds a special place in consumer choice, particularly in the current situation. A survey realised by Ipsos in 2019 was already showing than nearly 6/10 people in France (58%) refer to a very limited monthly budget, with a gap amount smaller than 10€.
Estimated 1/8 people (14%) even have a more limited gap capability, smaller than 1€. Now more than ever, the emergency for retailers to fix the right price is essential. Optimix Pricing Analytics provides them with an ergonomic software to do so.
A modular software suite to cover 100% of pricing issues.
Competitive pressure, pricing positioning, margin, market shares, etc.: in order to elaborate and optimize their pricing strategies, retailers have to access reliable data, updated with the latest competition prices. The analysis of such data is the fundamental basis to elaborate an efficient pricing strategy. It also allows to establish more reliable forecasts, in order to ensure that the chosen strategy will be the most efficient.
In order to best serve the needs and requirements of Retail, Optimix developed XPA (OptimiX Pricing Analytics): a complete, ergonomic and modular software suite in SaaS mode. Each one of its 8 modules is interconnected and answers a specific pricing issue:
- Online competitor’s data collection (Web Data Collect)
- Offline competitor’s data collection (Scan In Store)
- Competitors’ products scoring and matching (Matching)
- Range consistency (Linking)
- Organization and construction of pricing strategies (Pricing Definition)
- Pricing Execution: execution of improved pricing strategies (Pricing Execution)
- Advanced functionalities based on AI algorithms (Intelligence Modelization Platform):
- Price elasticity
- Products cannibalization
- Automatic price update proposal
- Business Intelligence tool and reporting (Dashboard Design Studio)
Optimix continuously improves its software suite around pricing. This is why Optimix Pricing Analytics now includes a new module, which objective is to optimize promotions and markdowns.
An omnichannel and all-in-one software suite, fully customizable.
Our ambition is to propose a complete and omnichannel solution. Optimix Pricing Analytics therefore adapts to:
- All kind of channels: online and offline
- All kind of pricing methodology: per point of sales, price ranks, store groups and life zones.
- All kind of Retail markets: food, DIY, perfumes and cosmetics, drugstore, toys, etc.
- All kind of organization: centralized, decentralized or mixt.
- And every type of structures: direct / owned stores, franchisees, affiliated, etc.
Today, Optimix Pricing Analytics is used in about twenty countries. It drives the sales prices of thousands of stores. Customers such as Sephora, Beauty Success, Les Comptoirs de la Bio, Pharmavie, Boticinal, Auchan, Casino, Bricomarché or Bricorama use our suite every day.
Our software integrates the market best practices in their standard. If needed, it can be totally personalized in order to adjust to the specific context of each company and user: formulas, treatments, algorithms, ergonomics, vocabulary, etc.
A quick start for immediate results.
For our clients, Optimix Pricing Analytics has both technical and functional values, allowing users to manage large volumes of data in a flexible and ergonomic way. While addressing 100% of pricing issues, the modularity of Optimix Pricing Analytics and the best practices carried as a standard enable a fast time-to-market. Moreover, its dynamic workflow facilitates decision-making and a better operational reactivity.
While using our software, a brand can notice an immediate ROI and short-term performance gains on each of its main KPIs – turnover, margin, positioning index and market share. For example, a retail brand of the food sector announced that they increased in 2.2% their turnover in 3 months over 45 stores and earned 4 million euros in margin in 6 months over 15 stores. The solution fast implementation in our customers’ environment allows to benefit these improvements in short periods.
By making Human and Artificial Intelligence work together, Optimix Pricing Analytics supports a better business decision-making process, with more precise data and more reliable forecasts. While ensuring an immediate reactivity and a very short-term ROI for your pricing strategy, Optimix Pricing Analytics gives you an opportunity to maintain your competitive advantage.