Choosing the right selling price
What is better – a high profit margin or higher sales? What profit margin or price is optimal for your chosen sales strategy? What happens to profit if you raise or lower the price by a few cents? And what happens if we do the same for another product? Is it worth changing a product's selling price during the season? Questions like these trouble us every day.
Self-learning AI and product profit efficiency analysis algorithms will help find the right answer, using the experience you have already gained.
The evaluation scenarios the system provides are shown in a format users understand, so they can make the right decision by assessing how sales change when the price changes.
Benefits
Choosing the right selling price is a key factor in optimizing profit margin and sales. A method for setting pricing rules helps find the balance between a high profit margin and higher sales, taking into account market research and the real market price. The price calculation formula, together with analysis methods, makes it possible to assess what happens to profit when the price is raised or lowered. With a pricing strategy, such as fixed pricing, the selling price can be adapted to seasonality and other factors. Self-learning AI and product profit efficiency analysis algorithms build on accumulated experience and help determine the most suitable pricing rules and sales strategies. The evaluation scenarios the system provides let users make the right decisions by assessing how sales change when the price changes, ensuring that pricing methods are applied efficiently and prices are adapted to the market.
Other modules
1Assortment and shelves
2Stock and orders
3Prices and profit
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