NEVER LOSE SALES AGAIN
Sales Booster- Price Optimization
Price optimisation is about making the right price at the right timing, it is done by automatically analysing the overall market trend, rival behaviours and seasonal period (such as Christmas) through Big data technology.
Category:
Market Demand Courve
Price ($)
Quantity
How Price Optimization works
Determine Target
Collect Data
Demand curve
Analyze results
1
Determine Target
Business objectives are always about getting maximum profit with the least cost and optimise your inventory. Merchants only need to set the bottom / highest price and choose to boost GMV / transaction, the system will do the rest for you.
3
Generate Demand Curve
It shows the correlation between price and demand which empowers you to make profitable decisions about purchasing cycles and quantity levels.
back to step 1 2
Collect Data
Collecting these large, sparse and unstable product data in E-Commerce platform manually is time-consuming, yet price optimization system can collect and categorize data automatically!
4
Analyze results
The system calculates the most appropriate price optimization formula for the business according to the following 5 factors in order to increase sales and improve the best match ranking.
- Product exposure
- Product Categories
- Price range
- Sites
- Boots GMV / volume
Complete the workflow time
Imagine that if you have 1000 listings, it may take up to a week collecting all data needed and human error may be existed, using VIEWIDER Big Data system can avoid such repetitive steps and enhance the accuracy!
VIEWIDER
computerized
Daily
Tranditional
human control
Weekly