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 Optumera Unified Price, Promotion and Markdown Optimization leverages AI to improve business KPIs and autonomously recommends price changes.
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
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