By automating the pricing process, crucial time is freed up to work on value-adding processes such as helping shoppers and stocking up critical products. Manual price changes are also a boring task that few employees find rewarding. Additionally, since price changes often come in irregular batches, it is also difficult to staff accordingly. Stores might have to call in a lot of extra people to get the job done in time, and this in itself is not always possible.
There is a global trend of an increasing amount of price changes, primarily driven by online retail. With a Pricer system, this problem becomes an opportunity to do more changes than ever.
Algorithms
Most retailers today run sophisticated price-optimization tools. With a Pricer system, one of the major constraints of the optimization tool is removed – the number of price changes it is possible to make. This unlocks opportunities for growth, be it in volume, profit or revenue. Also, the retailer can track minute changes in buying prices, ensuring that they do not miss out on profit when the supplier increases their prices.
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