AI-Price Optimization for Retailers and eCommerce Enterprises

A new addition to our partner ecosystem targets retailers’ time-consuming pricing routine and enables retailers to increase customer trust by setting and maintaining optimal price positions on a real-time basis by leveraging the power of AI. Competera, an industry-standard for pricing, uses deep machine learning algorithms to provide their enterprise clients’ a possibility to rebound on average 6% of gross margin by continuously calculating and re-quantifying billions of possible price combinations.

Having a powerful eCommerce competence center in Sigma Software and working with retailers that manage up to 5 million SKU in on system, we realize the advantages our clients can get from Competera products – increased revenue due to quicker and more efficient repricing, expended list of factors considered, eliminated mistakes in pricing decision making.

Competera’s Impact

• 6% gross margin uplift
• 8% revenue increase
• Increased customer trust, LTCV & price perception
• Increase average basket size and win the buy box
• 60% reduction in promo pressure
• Reduction in repricing time from 60 to 4 hours weekly

Some of the world-known eCom enterprises already use their products – Sephora, Unilever, Wiggle, and others.

Hanna Krystianovych, Head of Partnerships and Fintech at Sigma Software, says:

“We met Competera representatives at a tech conference and at once realized that they provide a smarter way to manage prices for online and offline retailers. This is what we are looking for when building our partner product ecosystem – a smarter way to do things by means of technology. Using AI algorithms is extremely efficient in this case.

“We are glad to start a partnership with a true tech expert Sigma Software, which understands the value of our product and can recommend it to the companies that will derive the maximum benefit from it,” emphasizes Oksana Chypchyruk, Partnerships Manager at Competera.

Find out how Competera product can improve your pricing

• #Business Process Automation
• #E-commerce