Lifecycle Pricing
Optimize Pricing with Precision, Intelligence and Automation
In a world of unpredictable demand, crushing speed of market changes, and unmanageable amounts of data, getting pricing right is key for retailers. To meet expectations, they need automated insights to understand what factors influence customer demand and then use that data to set pricing strategies. Luminate Pricing leads the way in optimizing pricing across the product lifecycle, with a more granular decision-making level than humans are capable of. Powered by artificial intelligence (AI) and highly honed machine learning (ML), it understands the influencing factors and makes optimal pricing decisions.
Lifecycle Pricing
Improve your competitive position in the market by treating all items as key value items through AI-enabled automated dynamic pricing.
Strategically manage prices across channels over the lifecycle of your items using AI that measures volatile customer demand and changing price elasticity.
Make smart pricing decisions across the product lifecycle from launch to markdowns and maximize product margin, newness and reduce inventory aging.
Improve your markdown cadence and profitability through AI that understands the relationship of weather, seasonality, events and price elasticity.
Reduce in-store labor and waste using AI that intuitively understands the price elasticity in each store alongside weather and customer shopping habits.
Fulfill your Pricing Potential with Blue Yonder
Improved margin
Replace inflexible rules that can overestimate changing price elasticity with automated pricing to drive profits.
Cross-channel price consistency
Create synergy and avoid inconsistent pricing across channels with strategic AI pricing.
Reduced waste
Utilize AI pricing to gain a better understanding of customers, reduce excess stock and avoid waste.
Better channel alignment
Align channels and balance competing goals such as margin & sell through, or revenue & waste.
Reduced in-store efforts
Eliminate unnecessary and unproductive price changes with intelligent pricing solutions.
Reduced waste
Utilize AI pricing to gain a better understanding of customers, reduce excess stock and avoid waste.
“We chose to partner with Blue Yonder for two main reasons. Technology-wise, they offer state-of-the art software capabilities, and they have enormous experience in the domain of data science. Business-wise, they were able to perfectly understand our business needs and translate them into a data-driven model for recommending pricing changes.”
–– Katrin Starke, Head of Business Development and Innovation Leader, ORSAY
"Blue Yonder’s Lifecycle Pricing reacts fast to the highly volatile demand fluctuations of our clients in the current situation."
VP Merchandise Controlling/Projects & Systems, bonprix
