Powered by AI, DemandTec Autonomous Pricing enables retailers to maintain price perception and drive profitable revenue growth, with need forecasting over 95% accurate
BOSTON–(Business WIRE)–DemandTec past Acoustic, a pioneer in retail price, promotions, and markdown optimization technology, today announced its AI-powered retail pricing application,
DemandTec Democratic Pricing
has been named
Constellation ShortList™ for Price Optimization Solutions for the second year in a row. Each year, Constellation Research evaluates 40 vendor solutions categorized in this market. This Constellation ShortList for Toll Optimization Solutions was published in Feb 2022, and is determined by customer inquiries, partner conversations, customer references, vendor selection projects, market share and internal research.
“The speed of retail is accelerating due to challenging market place conditions and changing consumer behavior. Retailers of all sizes seek the ability of AI and autonomous applied science to deliver the correct pricing for their customers, and thrive in today’southward tumultuous retail landscape,” said R “Ray” Wang, Master Analyst and Founder, Constellation Research, Inc.
DemandTec Autonomous Pricing enables retailers to improve toll perception and bulldoze profitable revenue growth, with demand forecasting accurateness over 95%. The ability to execute smarter pricing decisions based on unified merchandising systems and a holistic view of shopper behavior can improve margins up to 5%. Coupled with automated recommendations, retailers tin deliver strategic pricing decisions at the speed required to succeed in today’southward market conditions.
Key capabilities include:
Price optimization and recommendations.
Retailers can optimize pricing with AI-powered data scientific discipline to achieve profitable revenue growth. Leverage proactive recommendations for fast evaluation and execution of these prices.
- Rules-based pricing. By applying rules to define pricing boundaries per business needs, retailers can ensure the optimal pricing recommendations to match specific pricing strategy.
- Real-time capabilities. Retailers tin optimize and/or automate existent-time price updates based on their strategy, goals, and changes in the marketplace, beyond all channels or separately per channel.
Obtain valuable insights and AI-based suggestions on KVIs and KVCs, through competitive analysis and demand prediction.
- Democratic approvals and recommendations. AI-powered democratic decisioning increases productivity across categories, channels, and geographies. Autonomy improves efficiency, enabling increased focus on goals and objectives, ensuring the highest efficiency, productivity, and speed.
“Nosotros are in an extremely precarious period of rising costs and high inflation that is squeezing both retailers and consumers akin. Unlike forty years agone when we were last gripped by a similar crunch menses, retailers tin can ease the pain for themselves and their customers using DemandTec’s AI-powered Democratic Pricing,” said Todd P. Michaud, President and CEO of DemandTec by Audio-visual. “We are extremely gratified to exist recognized by Constellation Research for our price optimization solution.”
DemandTec Autonomous Pricing is bachelor as a standalone application or every bit role of the Unify by DemandTec™ platform. With Unify past DemandTec™, retailers proceeds a 360-degree view of shopper demand across all channels to drag AI-powered pricing, promotions, and markdowns and maximize profitable acquirement growth.
A pioneering leader in retail pricing, promotions, and markdown technology for decades,
is ushering in the new era of
With the Unify by DemandTec™ platform — the manufacture’southward commencement — retailers can unite their data, systems, internal teams, and interact with suppliers to generate profitable revenue growth with the ability of AI.
From food to fashion, DemandTec partners with more than 700 customers around the globe. Current and by retail partners include seven-Xi, Acosta, Carrefour, Cencosud, Coop, Exito, Farmacias Cruz Azul, Lowe’s, The Very Group, Tops Friendly Markets, and Westward.H. Smith, among others. To learn more than or to request a demo, please visit the states at www.demandtec.com.