Challenge

With the shifts in consumer behavior, unpredictable demand, stressed supply chains, and growing competition, it is imperative for retailers to make innumerable pricing decisions in an integrated manner to drive positive price perception, market share, and profitability. Constrained by limited budgets, they struggle to strategize and manage every aspect of pricing throughout the product life cycle for both short-seasonal products and multi-year basic replenishment items.

TCS Solution

TCS Optumera™ Unified Price, Promotion and Markdown Optimization harnesses AI to analyze how price elasticities impact revenue by evaluating 1000+ factors that impact business KPIs and autonomously recommends price changes. By taking cross-channel approach and simulating multiple scenarios, it identifies sales and growth opportunities.

• Autonomous Data-Driven Decision Making: Leverages AI to drive dynamic pricing decisions

• Unified Framework: Adopts a unified approach to pricing across all lines of business

• Always-On Optimization: Continuously identifies opportunities for margin or sales growth, and changes item prices accordingly

• Configurable, Standardized Rule Sets: Offers a wide set of rules such as competitor price distances, item linkages and margin rules at a granular level

• Configurable Dashboard: Provides user configurable dashboard, reports and alerts to support analytics

Benefits

• Execute omnichannel pricing autonomously

• Adopt customer-centric pricing

• Balance promotions with base pricing

• Define item strategies based on price and promotion sensitivity

• Estimate price elasticity