ON-LINE
On-line retail faces many unique challenges that are different from a bricks and mortar retailer. Competitive pricing is easy to obtain, and often is the single biggest determinant for a purchase decision. But, as with traditional retail, the elasticity of an item can be determined and the optimum price can be calculated. Additionally, the ability to bundle goods and services provides unique offerings not easily matched by competitors. Understanding the value of these groupings provides an opportunity to set pricing that achieves your financial objectives.
KSS Retail provides the leading real-time, self-learning price optimization solution that is in use by both traditional and on-line retailers. Our solution is designed to be used by the people who make pricing and promotion decisions and empowers the retailer with accurate, predictive insight to help determine the following:
- Understand what key items drive consumers price perceptions, and what price to set
- For like items (brands and sizes) learn the optimum pricing spread
- Find the items that are under-priced, as well as the ones that are over-priced
- Determine which promotions are driving site traffic and increasing overall purchases
- Model pricing and understand consumers reaction, before posting new retails