Dynamic Pricing

Intelligent, automated pricing with complete flexibility


With today's increasing price transparency and the growing number of products and volume of price changes, dynamic pricing has become a necessity. Omnia offers Dynamic Pricing, which is based on price elasticity of products through an intelligent core algorithm. This algorithm incorporates data from your internal systems (e.g. product and sales data) with other data sources (e.g. data from Pricewatch and Google Analytics) , to generate new, optimal prices for you, without you having to lift a finger. In addition, it offers complete flexibility through the creation of pricing business rules, making sure retailers can implement any pricing strategy.

Core algorithm based on price elasticity

  • An intelligent self-learning algorithm which is easy to set-up.
  • The algorithm reveals which products need to attract volume (high elasticity) and which products can have a high margin (low elasticity).
  • The core algorithm never prices higher or lower than the market, thereby fixing your “bad” prices (outliers) instantly.

 

 

Follow your strategy using customizable business rules

  • Fully customizable pricing business rules on the product level, category level or any other level you need.
  • Price based on any variable, such as a target margin, recommended selling price, average of competitors and much more.
  • Any pricing business rule is possible, for example: 
    • Set price to average of competitors A, B, C.

    • Adjust price 1% under highest price point including shipping costs of competitors A, B, C.

    • Set prices equal to most frequently occurring price point using default shipping costs among competitors A, B, C.
    • Choose price position 3 (excluding shipping costs) on total market +1% taking all competitors into account.

 

A transparent tool that works for every type of retailer

  • Intelligent automation for every type of retailer, whether it’s for 2000 products or millions of products.
  • Complete transparency in pricing decisions made by the algorithm.
  • Easily to use for both pricing experts and beginners through a user-friendly console, without the need for IT.

 

 

Omnia Dynamic Pricing - Testimonial Joost Kerckhaert

Joost Kerckhaert Category Manager Wehkamp

Wehkamp has been using Omnia since 2013. As category manager Beauty & Health, I see that price elasticity between categories differs substantially. Omnia’s core algorithm allows me to explore the differences in price elasticity much further than traditional dynamic pricing based on simple business rules. Results have been significant: we strongly increased sales, while maintaining profitability.

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