May 06, 2022
5 min read
In this series, we sit down with members of the GK team to learn more about their experience with the company.   Tell us a little about your career journey. How did you end up at GK? My first job was in retail was at an office supply store – stocking shelves…

Don’t Waste an Apple a Day: Dynamic Pricing Promotes Sustainability in LATAM and Worldwide

April 22, 2022
5 min read
Sustainability has become a budding social cause as people worldwide see the impacts of climate change firsthand. Yet, one region that is particularly focused on sustainability is Latin America, or LATAM. In fact, a recent eMarketer report found that 94% of internet users in Latin America believe companies should be…

3 Reasons Retailers Love GK Go

April 08, 2022
7 min read
GK is ushering in the era of completely contactless shopping, alongside industry giants like Amazon and Starbucks. In fact, in November 2021 GK announced the launch of its new scanless store, GK Go. Located in Schöneck, Germany, home of GK's global headquarters, GK Go utilizes CLOUD4RETAIL to enable a seamless…

Retailers Must Offer Personalization at Every Customer Touchpoint

March 24, 2022
6 min read
It’s clear that the more you know about your customers, the better you can anticipate their desires and needs. Successful ecommerce retailers are those that have implemented personalization to individualize the customer journey for every single shopper. Over the last few years, personalization has also found its way into traditional,…

Get to Know GK: An Interview With Yeshai Bouskila, Manager - Pre-Sales Engineering

March 09, 2022
5 min read
In this series, we sit down with members of the GK Software team to learn more about their experience with the company.   Tell us a little about your career journey. How did you end up at GK Software?  I’ve been in the retail software industry for 17 years, working for…

How COVID-19 Accelerated Retail Innovation in LATAM

February 25, 2022
5 min read
The shutting of physical stores as a result of COVID-19 had effects across the globe. For the Latin America (LATAM) region, the pandemic was a catalyst for traditional shoppers to make a digital purchase for the first time. Consumers quickly turned to ecommerce as the shopping channel of choice, with…

2021 in Review: GK Continues to Lead Omnichannel Retail Innovation

February 11, 2022
5 min read
2021 proved to be another exciting year for retailers of all sizes and verticals, from navigating supply chain challenges and labor shortages to implementing click-and-collect services and cashierless formats. GK was there every step of the way, reinforcing our mission to be the world's leading provider of comprehensive retail applications for…

GK’s TransAction+ Recognized by Forrester for Payments Innovation

January 31, 2022
5 min read
Shoppers who are ready to check out are looking for the path of least resistance. As one of the last steps in the customer journey, payment processes have the power to make or break a merchant. According to Forrester, an optimized payment solution can boost confidence and reduce disappointment with…

The Future of Apparel Stores Relies on Technology Innovation

January 07, 2022
6 min read
At the height of the pandemic – from March 2020 to March 2021 – when dressing rooms were closed and customers turned to online shopping or curbside, 42.4% of U.S. consumers returned unwanted products. And a majority of those products were clothing. With in-store shopping altered, the apparel industry faced…

4 Trends Accelerated During the Pandemic That Are Here to Stay in 2022

December 22, 2021
7 min read
We're not the first to tell you that March 2020 was a pivotal month. It was a catalyst for changes in consumer behavior and technology adoption across retail's many verticals. But what isn't so clear is which consumer behaviors from the past two years have turned into long-term habits –…

Get to Know GK: An Interview With Eddie Deyo, Chief Technology Officer

December 12, 2021
5 min read
In this series, we sit down with members of the GK Software team to learn more about their experience with the company.   Tell us a little about your career journey. How did you end up at GK Software?  I've been around technology nearly all my life, starting out as a toddler…

How Image Similarity Can Reduce Online Cart Abandonment

December 02, 2021
7 min read
The average shopping cart abandonment rate is a staggering 70%. As a result, preventing lost sales is a main priority for ecommerce retailers. What's more, the apparel industry is highly dynamic due to item seasonality, customers' unique fashion tastes, and the ever-evolving definition of what's in style. It's important for…

Conexxus Webinar Recap: The Evolution of Frictionless Commerce

November 08, 2021
9 min read
Frictionless commerce is growing in popularity among shoppers and retailers alike. But is frictionless technology part of an evolution where you can build on existing solutions or a revolution where you must quickly reshape your business processes to keep up with the competition?   To answer this question, Bill Miller, our vice president of…

Get to Know GK: An Interview With Max Francescangeli, Regional Director

October 29, 2021
8 min read
In this series, we sit down with members of the GK Software team to learn more about their experience with the company.   Tell us a little about your career journey. How did you end up at GK Software?  I started my career right out of school, having graduated with a degree in electronics engineering. My…

How Retailers Like Hy-Vee Are Blending Store Formats To Meet Customer Needs

October 13, 2021
5 min read
The acceleration of digital transformation paired with evolving customer expectations has led retailers to blend their store formats, improving service and fostering loyalty. Hy-Vee is an example of a retailer that is no stranger to in-store innovation – and GK Software is helping the company achieve its goal of a…

Adapting Pricing, Personalization and Mobile C-Store Offerings to Serve Today’s Shopper

September 22, 2021
8 min read
The pandemic upended the routines of many, including changing the way we travel, both for work and leisure. Despite these major shifts, consumers are still making a habit of visiting c-stores regularly. In fact, 65% shop at a c-store once a week or more, according to Convenience Store News’ 2021 Realities of the Aisle Study.   As consumer habits continue to evolve,…

How Grocers Can Compete with Amazon: A Firsthand Review and Analysis of Amazon Fresh

September 14, 2021
8 min read
It's no secret that Amazon is becoming increasingly prominent in the retail landscape, particularly within the grocery sector. The retailer recently announced the use of its new Just Walk Out technology, which is poised to innovate and further automate the grocery experience. While we already discussed the pros and cons…

Three Ways AI Can Advance Personalization at the Point of Sale

August 31, 2021
7 min read
Retailers juggle vast amounts of data from a variety of sources to improve their level of service and the customer experience. This is critical, as 90% of consumers say the amount they spend or shop with a retailer is impacted by how consistently the retailer delivers a personalized shopping experience – and 65% are willing to share their data with retailers in order to receive it.   But analyzing data without…

Get to Know GK: An Interview With Michael Jaszczyk, CEO

August 19, 2021
6 min read
In this series, we sit down with members of the GK Software team to learn more about their experience with the company.       Tell us a little about your career journey. How did you end up at GK Software?  My dad brought home my first computer when I was seven…

Announcing GK Hospitality: Breaking Down Barriers Between Retail and Convenience

August 06, 2021
4 min read
As retail segments continue to blend, businesses who operate hospitality services require a single, unified POS solution for all of their processes. Whether convenience stores to supermarkets with food service – similar to Whole Foods opening restaurants and bars – a unified POS simplifies integrations, reduces the cost and time…

The Payment Options To Consider Within Retail Environments

July 21, 2021
7 min read
Contactless payments have become ubiquitous with COVID-19. While the increase in adoption was driven by the need for safe and secure payment methods, the number of payment methods has been consistently increasing, beyond traditional cash, debit or credit options. In fact, some may argue that U.S. adoption of new payment…

Announcing OmniPOS 5.19: A Single POS Platform for Every Retail Format

July 20, 2021
4 min read
Omnichannel retail innovation has increased dramatically as a result of COVID-19. Retail formats are converging with the emergence of new concepts such as grocerants and an increased emphasis on dining, fuel, customer engagement and mobile apps. But many retailers still manage siloed POS solutions. For example, grocers and convenience stores may operate separate systems for in-store…

Catering Retail Technology Innovation to Both Curious and Cautious Consumers

June 25, 2021
7 min read
Amazon is no stranger to innovation. One of its recent launches happened on June 15, when the company announced the upcoming implementation of Just Walk Out technology in a new full-size Amazon Fresh grocery store in Bellevue, Washington. At this store, all grocery items including meat, pre-made meals, pastries and produce can be purchased without stepping foot in a checkout…

Touchpoints to Create a Touchless Retail Experience

June 21, 2021
7 min read
Today’s “store of the future” is often considered to have technology like self-checkout shopping carts and camera-filled stores à la Amazon Go that allow for a completely touchless experience.   It’s obvious that COVID-19 accelerated the demand touchless retail as a result of consumers’ sanitation and safety concerns. Now, 87% of U.S. consumers prefer to shop at stores that have touchless or robust self-checkout options.  As counterintuitive as it…

4 Reasons Retailers Choose CLOUD4RETAIL

June 15, 2021
6 min read
Just three years ago, we officially launched CLOUD4RETAIL at EuroCIS 2018. Since that first splash, CLOUD4RETAIL has been used worldwide to power the modern retail experience, from touchless mobile payments to personalized digital engagements.   Our product continues to evolve to meet the market and while there are many reasons our customers select CLOUD4RETAIL,…

Analysts Recognize GK for Pricing and Fulfillment on the Heels of a Transformative Year

June 01, 2021
5 min read
Without a doubt, the past year and has been volatile for retailers as they were forced to adapt to changing consumer behaviors. But while retailers were heads down and looking for answers to their technology limitations, analyst firms were recognizing GK Software for existing solutions already solving the problems COVID-19 exacerbated.   Most notably, Gartner released a guide on pricing and promotion solutions and IHL Group explored the market leaders…

How Retailers Can Prepare Now for the 2021 Back-to-School Shopping Season

May 18, 2021
7 min read
The back-to-school shopping season is expected to look different again this year.   Like last year, buyers’ needs will be impacted by whether learning takes place in person. Presently, school administrators are expecting a mix of in-person and remote instruction during the upcoming fall semester.   In addition, consumer behavior is continuing to evolve. Shoppers are slowly returning to stores as vaccines rise. And, at…

How Convenience Stores Can Better Support Summer Travelers

May 04, 2021
6 min read
With Memorial Day serving as the unofficial start to summer, convenience retailers have less than a month to ensure their stores are ready for the road trips the season will bring.   Fifty-two percent of convenience store retailers say that summer travel will be close to pre-pandemic levels, according to NACS. And as of March, Deloitte noted 33%…

A Vaccinated Society: How Retailers Can Prepare Their Stores

April 20, 2021
6 min read
In April of last year, businesses across the country were in the throes of closing their physical stores, facing uncertainty around COVID-19's impact on sales and profitability. Now, with vaccine distribution rolling out across the nation, many states are allowing stores to return to a full capacity. As of April…

Pop-Up Retail: What Retailers Need to Consider 

April 05, 2021
5 min read
For consumers, pop-up stores are seen as exciting and exclusive. If shoppers live far away from a brand’s physical store, pop-ups can be an opportunity to experience the brand and interact with it in a new way outside of the online shop.   The benefits for retailers are also tenfold.   Pop-up retail is a low-risk way of testing out new markets or products. The reduced overhead for rent, utilities and inventory allows retailers to further…

The Future of the Physical Store: COVID-19 and Beyond 

March 18, 2021
8 min read
The future of physical stores has been a key topic of discussion long before the pandemic. You’re likely familiar with the phrase “retail apocalypse,” which originated when the steady number of store closures led the industry to believe e-commerce was the future.   And there’s no arguing the unprecedented growth that e-commerce saw as a result of COVID-19.…

Do Prices Influence Online Returns?

March 10, 2021
6 min read
The option of free returns is a major value proposition for online shoppers, ultimately delivering a sense of security that increases the likelihood of purchase. What’s more, free returns are now the norm, with 55% of online retailers offering them.  However, returns can be costly for retailers. Processing returns results in additional expenses and logistics, from paying for shipping to managing inventory restocks for an…

Dynamic Pricing: Three Critical Questions Answered

February 23, 2021
5 min read
Retailers are facing increased pressure by major brands like Amazon, Target and Walmart that offer “everyday low prices.” They’re realizing that in order to compete, they need faster, more responsive pricing strategies.  Enter dynamic pricing.   It’s a daunting and intensive process for retailers to keep track of thousands of prices. In addition, they must also determine how best to optimize…

How to Maintain Critical Touchpoints in a Contactless World

February 08, 2021
4 min read
Traditional shopping methods have taken a backseat to online traffic growth as a result of COVID-19. According to Digital Commerce 360, U.S. consumers spent $861.02 billion online in the U.S. in 2020, a 44% increase compared to 2019. Now, there are many ways shoppers engage with retailers beyond associate assistance…

Five Strategies to Creating a Personalized Customer Experience Online

February 02, 2021
7 min read
According to Forrester, more than one-third of U.S. online adults want retailers to do more to offer them personalized experiences. In the years after the turn of the millennium, simple algorithms implemented recommendations such as “customers who bought this product, also buy these products,” but over time personalization made its…

How Omnibasket Establishes POS Flexibility for Developers

January 25, 2021
2 min read
A new POS implementation is one of the most expensive IT investments a retailer can make. It requires executive approval and must be done seamlessly so no business is lost in the transfer process. As a result of a retailer’s reluctance, they are often stuck with a POS system that…

Beyond the Forecourt: Mobile Offerings as a Key Driver for C-Stores

January 19, 2021
5 min read
At the beginning of the COVID-19 pandemic, we saw a shift away from restaurants as indoor dining options halted. It also put a temporary pause on self-service food offerings in the store. This was an unexpected benefit for convenience stores, as consumers wanting fast to-go options preferred pizza, burgers and…

Why Retailers Benefit From Using Headless Commerce Technology in Store

January 04, 2021
9 min read
Headless commerce has been a major topic of conversation for several years, especially as it pertains to how retailers can achieve flexibility as they interact with customers via an ecommerce site. This year, the prominence of ecommerce has skyrocketed because of COVID-19, a reality that has not been more apparent…

Top 4 Payments Predictions for 2021

December 18, 2020
4 min read
COVID-19 has changed much of consumer behavior and expectations when it comes to payment options both in store and online, and many of these changes are expected to stick moving forward. As we begin a new year, we predict the four payment trends that will become even more prominent in…

5 Tools for Mastering Dynamic Pricing in Grocery

December 14, 2020
8 min read
One of the key reasons retailers are focusing on dynamic price adjustments is the ever-increasing volatility of the market and the growing competition. Customer demand and the availability of certain products can change daily, making it almost impossible to run a meaningful forecast of purchase behavior based on typical seasonal…

The Role of POS in Hospitality

December 07, 2020
5 min read
In 2019, off-premises dining accounted for 60% of restaurant occasions. As a result of the pandemic, hospitality must be prepared for this number to continue to rise and remain permanent. What’s more, we’re finding that an increasing number of retail verticals are offering prepared foods and food service in order…

Meet Omnibasket, the New Collaborative Developer Portal that Empowers Cloud Innovation

November 19, 2020
5 min read
Imagine any point in a customers’ journey with a retailer: the shopping basket should be present through every step. The reality is, this is often difficult to achieve, especially because needs are often developing more rapidly as developers have time to build solutions.   We’re looking to change that. Omnibasket…

New Customers and Partnerships Illustrate How GK is Transforming Retail in the Cloud

November 16, 2020
6 min read
The cloud has made it possible for retailers to offer new services and conveniences in their stores that were previously impossible. For example, the ability to centralize customer data from across channels and devices, as well as process that information quickly, allows retailers to reach individual shoppers with personalized messages.…

Black Friday 2020: Five Tips to Increase Sales

November 09, 2020
7 min read
As you know, many factors will be different this holiday sales season, as retail is facing major challenges due to the COVID-19 pandemic. Brick-and-mortar stores in particular are struggling with a sharp drop in sales. Online retail, on the other hand, saw growth: U.S. ecommerce sales grew more than 30%…

Cracking the QR Code to Advance Contactless Experiences

November 02, 2020
6 min read
Since March, the way we shop has changed drastically. While not a new concept, “contactless” retail has arisen as a buzzword as retailers work to keep customers and employees safe. It’s now an essential feature in order to attract in-store shoppers and maintain consumers’ trust. Luckily, achieving contactless processes in…

Dark Stores Bring New Light to Grocery Efficiency

October 26, 2020
6 min read
Dark stores are quickly becoming a must-have for grocers looking to improve efficiency and customer service in today’s market. A recent survey found that 68% of shoppers purchased groceries online for curbside pickup or delivery during the pandemic. This surge in online shopping has led many stores to temporarily turn…

Three C’s for Grocers to Achieve a Successful Holiday Season

October 19, 2020
6 min read
As a result of the pandemic, holidays like Thanksgiving, Hanukkah and Christmas, as well as events like company parties, will likely have a virtual aspect to them. However, as friends and families remain distanced, the need to connect will be stronger than ever. Whether consumers are looking to keep old…

Three Ways Retailers Can React to an Unprecedented Holiday Season

October 12, 2020
8 min read
It shouldn’t come as a surprise to learn that this holiday season will be unlike any other. And it will be high stakes, too – one in five retailers say their future is dependent on how well they do this quarter. Major concerns include if, when and how consumers will…

5 Ways Dynamic Pricing Can Help the Consumer Electronics Industry Succeed

October 01, 2020
8 min read
While our last dynamic pricing blog dealt with industry-specific features of dynamic price optimization in the fashion industry, today we’ll look at consumer electronics. The consumer electronics industry is one of the most challenging because of demand and competition. In order to survive as a retailer here, dynamic price optimization…

How Convenience Has Changed

September 28, 2020
6 min read
The last time you were inside a convenience store, you may have been making an impulse purchase — a soda or a snack while you were filling up your car. Convenience stores are synonymous with spur-of-the-moment purchases, but now during COVID-19, that type of spontaneity can be rare. As a…

The Best Weapon in the Fight Against Food Waste

September 21, 2020
8 min read
Food waste is a massively pressing issue in the grocery industry. Shockingly, about one-third of all food produced goes to waste, according to the United Nations. Recently, The Consumer Goods Forum, consisting of 14 of the world’s largest retailers and manufacturers, launched a Coalition of Action on Food Waste to…

What Restaurants Can Learn from Grocery Innovators

September 15, 2020
5 min read
Restaurants have suffered as a result of the pandemic, as many dining rooms have closed or operate at a reduced capacity. Restaurants of all sizes have had to adapt, modifying existing models and introducing new processes that streamline online ordering, payments and pickup or delivery. And it’s proving effective. Restaurant…

App or App-less Technology? That is The Question

September 08, 2020
7 min read
It’s now been a decade since the ubiquitous iPhone phrase “there’s an app for that,” was first uttered. And with more than 8.93 million mobile apps available globally, it’s a phrase that’s held up well over time. But the popularity of apps means the market is now extremely saturated, and…

Satisfied Customers: Why We Do What We Do

August 31, 2020
7 min read
Software providers can talk and talk all day about what makes their offering the best. But hearing from a retailer who implemented the technology and is actively seeing benefits with their customers is the true testament of value. The future of retail is developing at a rapid rate today, with…

How Dynamic Price Optimization Benefits Fashion Retail

August 24, 2020
7 min read
In the last dynamic pricing blog on coupons and bundles, we touched on industry-specific differences that can be crucial to a retailer’s success. Now, let’s take a closer look at one specific vertical: fashion retail. Fashion retail offers great potential for dynamic price optimization because the average margins are comparatively…

Contactless Concepts Are the Forefront of Retail Innovation

August 17, 2020
7 min read
According to research from the National Retail Federation and Forrester, since January, no-touch payments have increased for 69% of retailers. Of those that offer contactless payments to customers, 94% expect the demand to continue increasing over the next 18 months. COVID-19 has caused an aversion to physical touch in an…

What Do Successful Retailers Have in Common?

August 10, 2020
6 min read
No two retailers are created alike. Their customers’ unique needs and the type of services they offer will lead to different strategies. But at the core of all successful retailers lies one idea: they understand the importance of being able to conduct retail efforts anywhere, at any point in time.…

Brick and Mortar’s Next Chapter: Frictionless

August 05, 2020
5 min read
When thinking about a consumer’s shopping experience within a brick and mortar store, retailers’ efforts are often segmented into two differing approaches: a focus on scanning and contactless, or immersive and personal technology. Contactless versus immersive tech Scanning and contactless technology work to drive convenience and cut down on time…

Steps to BOPIS Success

July 23, 2020
7 min read
Recently, we published a blog on the new look of buy online, pickup in-store (BOPIS) services post-pandemic. We explored how a flexible, standalone BOPIS solution can make integration and deployment easier than ever. This is essential as BOPIS has become a critical service for many retailers to generate sales while…

Coupons and Bundles - Success Drivers for Crucial KPIs

July 16, 2020
7 min read
When it comes to dynamic price optimization, the three crucial KPIs are sales, profit and purchase frequency. In pricing theory, it is said that in principle, any two of the KPIs can be raised together, but never all three. If you look at a single item, this might be true.…

The EMV Deadline Has Been Extended: Now What?

July 13, 2020
8 min read
Visa has once again delayed the EMV deadline for fuel retailers. This time, from Oct. 1 2020 to April 17, 2021. But what does this exactly entail?  Given disruption due to the COVID-19 pandemic, the six-month extension provides retailers much needed additional time before the liability of fraudulent transactions shifts from…

Headless Commerce is Next Frontier for Enterprise Retail Platforms

July 06, 2020
7 min read
Modern retail demands flexibility and control. Especially in verticals such as grocery and convenience, consumers expect retailers to make it as easy as possible for them to get what they want, when they want it and how they want it. Thus, the more high-value services a retailer can provide, the…

The New Look of BOPIS

July 06, 2020
7 min read
This probably isn't your first time reading about how COVID-19 has served as a catalyst for technology adoption across retail. But what hasn't been addressed is whether or not specific consumer behaviors embraced during the pandemic will turn into habits that last long-term. For example, as retailers worked to keep…

To Achieve Frictionless Retail, Both Edge and Cloud Computing Are Necessary

June 18, 2020
6 min read
To achieve a future of frictionless retail, retailers must first be able to understand when and how to leverage centralized cloud infrastructure and when to defer to decentralized edge networks in the store. While the adoption of the cloud has led to unprecedented enterprise agility and intelligence, there are many…

The Future of Frictionless

June 16, 2020
6 min read
We’ve spent some time looking at the types of shopping behaviors and trips that define the overall retail landscape, the unique areas of friction that create frustration for each one, and the roadblocks for achieving frictionless retail. We’ve concluded that in the context of both online and in-store retail, true…

Common Roadblocks to Frictionless Retail

June 16, 2020
9 min read
We recently discussed how shopping behavior impacts frictionless needs and the technology options retailers should consider to eliminate pain points in the shopper journey. Consumers expect a seamless journey at all touchpoints, and if a brand fails to deliver on this, they will lose to their competitors and fail to…

What Do Dynamic Pricing Systems and Recommendation Engines Have in Common?

June 12, 2020
6 min read
At first glance, Dynamic Pricing Systems and Recommendation Engines may not have too much in common. Dynamic Pricing is meant for targeted price optimization so a retailer can sustainably grow revenue and profit. Recommendation Engines, on the other hand, ensure that customers receive excellent online service, even though there is…

Frictionless Technology Options to Address Your Shopper’s Unique Pain Points

June 09, 2020
9 min read
In our last blog, we explored how shopping behaviors impact frictionless retail needs. We looked at eight different types of purchases  that uniquely affect the shopping experience a customer expects. We also explained the common friction points retailers need to address for each of these customers.   Today, we’ll identify…

Intelligent Markdown Pricing – Why a Targeted Approach is Essential

June 03, 2020
5 min read
Markdown optimization is one of the topics that retailers are particularly interested in because it holds significant promise and value for all segments. Because markdowns – and especially write-downs – limit gross profit, it is important that retailers proactively manage their sales and keep them to a minimum. However, the…

How to Optimize Prices Using AI

April 28, 2020
6 min read
One of the reasons why retailers increasingly rely on AI-based Dynamic Pricing is the huge amount of data and influencing factors that need to be considered for price determination, including product master data, purchase prices, sales quotas, inventory levels, competitor behavior, promotions, real-time transactions, historical data, seasonal trends, regional factors,…

GetMyGooods: Instantly Deliver BOPIS Service

April 24, 2020
5 min read
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…

Using Dynamic Pricing Successfully

April 16, 2020
6 min read
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…

Price Elasticity and Its Role in Strategic Assortment Analysis

April 07, 2020
4 min read
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…

Price Elasticity - The All-Rounder for AI-Controlled Price Optimization

April 06, 2020
4 min read
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…

Reinforcement Learning – What Distinguishes a Real AI from The Wannabes

March 26, 2020
4 min read
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…

Approaches to Dynamic Price Optimization, Part 1: Rule Engines vs. AI-Controlled Price Optimization

March 20, 2020
4 min read
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…

What is Dynamic Pricing?

March 20, 2020
3 min read
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…

GK Software's Coronavirus Response

March 19, 2020
2 min read
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…