Remi AI: The Future of Retail Price Optimization
Price optimisation/dynamic pricing software is an essential part of any retail company’s supply chain. It has the power to increase revenue and profit margins, while reducing risk and complexity. But what exactly is it? How does it work? And how can you implement it in your business? To answer these questions, let’s explore what price optimisation software is, why it matters, and how it can help your business optimize its supply chain.
Retailers have been using price optimization and management software for years, but until now, these tools were limited to human-based decision-making processes. Remi AI builds supply chain optimisation software powered by artificial intelligence that makes decisions on behalf of the retailer. This allows retailers to increase their revenue and profit margins without having to hire additional staff. In addition, with Remi's software retailers can more easily take advantage of seasonal pricing trends, as well as other changes in the market; saving them time and money from having to manually adjust price themselves. While current retail price optimization software solutions do exist on the market today, they are often cumbersome and require costly updates every few months. In contrast, Remi's price optimization software uses a scalable AI algorithm that learns from the company's business data over time. As such, this solution provides a sustainable alternative for retailers looking to optimize their prices across all channels including eCommerce and physical stores. Additionally, Remi AI includes price bundling capabilities so retailers can create packages or deals based on customer purchase history to upsell specific items or product lines.
A highly intuitive user interface enables retailers to set goals and set prices in just a few clicks. Furthermore, features like real-time inventory tracking, reporting, and analytics allow the retailer to monitor trends at both individual locations and on a macro level within the entire organization. These features enable businesses to proactively manage pricing instead of reacting after mistakes have been made which is essential when dealing with digital marketing campaigns.
To summarize, Remi AI offers three main advantages over traditional price optimization and management software: automation through an intelligent algorithm. Automation Through An Intelligent Algorithm - Modern price optimization systems require constant updating and work to reach pricing perfection. Whereas, Remi's price optimization software uses a scalable AI algorithm that constantly evolves through insights gained from your business data. In essence, this software continuously gets smarter and better over time allowing you to maximize profitability year round.
Scalability - One way traditional price optimization tools go wrong is by not being able to scale according to your business needs. And even if they could be scaled, companies would be forced into buying a new license each year in order to continue optimizing prices. With Remi AI's cloud platform, retailers pay a monthly subscription fee to use our algorithms. This makes it cost-effective and hassle-free because you only need one price optimization license while still receiving access to unlimited scaling capacity.
Also, with our pre-made templates containing price flooring, price ceilings, point redemption prices, and discount rules we've eliminated the need for time-consuming tweaks by automating the process. The result is predictable prices combined with higher revenues! What's best is that the tool is completely mobile and always accessible, so retailers have full-price optimization power no matter where they are.
Remi AI's artificial intelligence software aims to revolutionize the world of price optimization and management. Gone are the days of hiring expensive consultants or having to update pricing yourself. Our price optimization software will do it for you. Get in touch with us today to find out more!