Set price to average of competitors A, B, C.
Adjust price 1% under highest price point including shipping costs of competitors A, B, C.
Choose price position 3 (excluding shipping costs) on total market +1% taking all competitors into account.
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.