Retail pricing software has earned a reputation for being difficult – difficult to implement, difficult to understand inputs and outputs, and difficult to incorporate into business users’ daily routines.

Yet getting pricing right, whether regular pricing, promotional pricing, or markdowns, can drive several percentage points of additional margin.

So how do you make pricing a more straightforward and compelling proposition, one that your company can adopt without all the pain? Turn to Predictix.

Pricing must adapt to your business process, and be actionable and transparent

Predictix understands that the business process that surrounds how you arrive at “the right price” is at least as important (if not more) than the price itself. Why? Business users must make pricing a part of their daily discipline. They must be able to make pricing decisions in the context of their broader planning decisions. They must understand the inputs that go into producing an “optimal” price. They must be able to test different scenarios quickly, so they can make informed decisions. And they must be able to trust the price the solution is providing – by understanding how and why the solution is recommending a particular price.

Pricing solutions can be quick and cost-effective

Given the compelling returns promised by pricing solutions, many companies have endured long, difficult, and expensive rollouts. But they don’t need to any longer.

Predictix pricing solutions are delivered 100% on demand, securely accessible anytime-anywhere with only a web browser, and are tailored to each retailer’s specific business processes and pricing needs. Retailers can be up and running in a matter of weeks, with no investment in hardware or third party software, and with licensing on a monthly subscription basis, without expensive long-term or perpetual commitments.

Predictix Regular Price: Business-driven

With Predictix Regular Price, we looked at pricing software conventional wisdom and turned it on its head. Certainly the end point of regular pricing is to understand elasticity and cross-elasticity, set a price for each item in each store to meet certain objectives, and to produce forecasts that provide visibility into the impact of your pricing decisions.

But how do you get there? How do you position against your competitors? How do you group your products for pricing purposes? How do you want your pricing to be perceived across and within product lines? How do regional differences come into play? How much flexibility do you want to give local decision-makers? How much risk are you willing to take with your pricing decisions?

With other solutions, some of these questions are treated as necessary, static inputs – they are hard-coded by the technology vendor on the back end, and all the focus is on producing a price. Others, like risk, are not even considered. But aren’t these questions actually critical to successfully running your business?

Predictix Regular Price puts your business users in charge of these pricing decisions, ensuring not only that prices are “optimal,” but also that they respond to your ever evolving view of what’s important to the business, and also allow for local input where you want it.

Predictix Promo: Visibility, Accuracy, Profits

Predictix Promo lets buyers collaborate with colleagues and vendors, with real-time feedback on the true dollar impact of different promotion scenarios, so buyers can plan, forecast and execute more profitable promotions quickly, easily, and flexibly. Predictix Promo lets buyers:

• View and collaborate on every promotion in one single place;
• Test and compare scenarios to design effective promotions; and
• Analyze the true dollar impact of promotions.

Predictix Markdown: Intuitive and integrated

As with our other pricing solutions, Predictix Markdown puts the emphasis on making markdowns a part of merchants’ daily lives, by providing a solution that is highly flexible, easy to use, and fast to optimize prices. Because each retailer looks at markdowns in their own particular way, our user interface and process is entirely configurable to each retailer’s needs.

For retailers using Predictix Item Planning, the benefits are even greater. Predictix Markdown takes inputs directly from Predictix Item Planning, and the results of markdown optimization are fed back for in-season planning and re-planning. Of course, as with other Predictix solutions, Predictix Markdown can also be integrated in real time to your existing item planning system.

Predictix Market Basket: Actionable insights

On its own, Market Basket from Predictix provides useful insights regarding your customers’ buying behavior – insights you can use to improve your assortments, space planning, merchandising and pricing strategies. When combined with other Predictix applications, Market Basket provides an additional level of insight into your retail decisions.

In combination with Predictix Assortment Planning, slow-moving items that might have been candidates for taking out of an assortment may actually be driving larger purchases, and different layouts may help lift sales of key items.

In combination with Predictix Regular Price, you can move beyond decisions based on price elasticity to ones based on basket elasticity, and by understanding what your lead and add-on items are, project the impact of pricing decisions on the number of baskets, their size, composition, and margins.

  Regular pricing
  Promotions planning
  Promotions guidance
  Forecasting and optimization
  Markdown optimization
  Market basket analysis