If you haven’t heard already, we recently launched GetMyGooods, an app that plays a critical role enabling simple grocery ordering and pickup while ensuring the protection of everyone involved. The app is designed to provide retailers a way to instantly deploy buy online, pick-up in store service by eliminating the…
Our recent posts have explored the margin benefits retailers can achieve with the help of price elasticity insights, including how to generate a better understanding of an entire product line and how to price it accordingly. Differentiating a product portfolio into roles, such as common and focus items versus basic…
In our last blog post, we explored the concept of price elasticity and the benefits it brings to AI-driven price optimization. Now, let’s explore how price elasticity can be used to create a strategic basis for an AI pricing solution.   With the help of price elasticity, you can determine exactly…
In this blog, we’ll explore the concept of price elasticity, arguably the most important concept when it comes to AI-enabled price optimization.   What does price elasticity do? There is no other approach that works as efficiently, economically and sustainably as price elasticity. What is particularly remarkable is that it…
Clearly defining the construct of artificial intelligence is difficult, if only because the term intelligence alone can hardly be clearly defined. That's why AI is frequently used as a buzzword. However, there are some very decisive technological nuances that make the difference, especially in economic terms.     Machine Learning is the…
One of the more common, traditional approaches to establishing price differentiation comes in the form of rule-based systems, or rule engines. They implement predefined pricing rules in a prescribed pattern. These systems often set item prices exclusively based on competitor prices, which the system’s rules are set to exceed or…
Dynamic Pricing is the proven “corner store” principle – rethought for the digital age. Small corner stores always used a somewhat volatile pricing policy based on experience and gut feeling. For example, close to closing, they generally offered bread or fresh products at a discount in order for the retailer…
Given the current situation with the COVID-19 outbreak, it’s important to us that you know we have taken numerous measures to ensure your health, the health of our employees and the smooth operation of our customers' stores. We are diligently following the recommendations of global government and health authorities in…
What shoppers are looking for when they step foot in a convenience store is in the name: convenience. They’re looking for an easy, quick experience – whether that’s filling up their tank, grabbing a few items they need, or both. But if shoppers head into a store and see a…
As legendary online brands like Warby Parker and Amazon expand into physical retail, they face a highly complex process of integrating their established online infrastructure with their emerging in-store infrastructure. And for other smaller retailers who are expanding to physical stores and looking to implement click-and-collect, they require a system…
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