(PRWEB) January 11, 2014
A pricing strategy tool which features dynamic price optimization is being rolled out by CustoLogix at the 2014 National Retail Federation (NRF) Show. CustoLogix is a leader in providing a full range of analysis and pricing optimization services for the retail industry.
The pricing strategy tool tracks changes in online competitive prices, fluctuating demand, competitive price moves, seasons, trends and a host of other factors such as demographics and local competition, while pricing for various category and item-specific strategic goals such as driving traffic, maintaining a price image and increasing profits. It can be used on a tablet while leveraging super computing power via the cloud.
With CustoLogix’s RapidAnalytix™ pricing tool, a traditional retailer can now make instant science and data-supported pricing decisions anywhere from the headquarters to the retail floor, with the touch of a button on a tablet or smartphone.
“Retailers can no longer simply price the products in their store in silos, they have to price with the ever-intensifying and transparent online competition, as well as market conditions that change by the minute,” says CustoLogix founder Kiran Gange. “Retail consultants are responding with solutions that compute vast amounts of data in real time to provide instant price recommendations for brick and mortar retailers.”
A large specialty retailer has been working with CustoLogix for more than six months, testing the pricing and analytics tool, which has yielded great results and benefits. Mid-size retailers with annual sales of between $100 million and $5 billion are the primary market. With big data, global distribution of resources and cutting edge mathematics, the new generation pricing strategy tool will be available at a fraction of the cost of a traditional pricing consulting implementation.
CustoLogix founder Kiran Gange and members of the CustoLogix team are pleased to meet with you to share this and other insights into dynamic pricing. The CustoLogix booth at NRF is number 618, located in the first floor of the NRF.
CustoLogix is known for its RapidAnalytix™ and DiscoverAnalytix™ solutions, both of which provide a full range of analysis and pricing optimization services, such as:
- Omni channel pricing
- Dynamic Price Optimization (Pricing on Auto Pilot)
- Item/ Category role definition
- Automatic performance measurement and testing
- A/B testing of pricing strategies
- Good, Better, Best Pricing Strategy
- Private Label Growth Strategy
- Promotion and Holiday Sale Optimization
- Assortment Optimization
- Product Feature Analysis
- Demographic Analysis
- Product Life Cycle Analysis
- Markdown recommendations
- Vendor Negotiation Dashboards