| Customers: Practical magic Retail chain stores Project date: 2017/01 - 2017/09
Number of licenses: 10
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- Project terms: January, 2017 – September, 2017
- Total labor costs of the contractor and customer in man-hours: 1500
- Number of the automated jobs: 10
Project Objectives:
- Maintenance of optimal profitability of business in the conditions of competitive environment.
- Automation of all process of pricing.
- Support of image on price perception.
- Selection of the optimal prices taking into account competitive and cultural environment of each specific shop.
- Recursive improvement of the prices to a basis of consumer reaction.
Project Description:
The project consisted of three stages:
- Primary integration and data analysis on effectiveness – 3 months
- Pilot operation on the selected shops / categories – 5 months
- Scaling on all network / categories – 1 month Process of system implementation of smart dynamic pricing of Eglitec Smart Pricing at all stages was followed by training:
- Seminar training on methodology of smart dynamic pricing
- Training in work with a system and its algorithms
- Training in work with the reporting of a system.
Eglitec issues recommendations about the following best price and creates individual lists on monitoring of competitors on each of 80 outlets of network in the automatic mode on the basis of the sales demand and the prices of competitors for 78% of the range (the general active range of network – 30,000 names). Total number of positions on regular recalculation 440,000. Determination of an optimal technique of pricing for retail chain stores and also adjustment business of processes of monitoring of competitors and use of the prices was the main complexity of the project.
Project Results:
- Increase in profit by more than 6%.
- The subjective factor is excluded from process of pricing and transition to management on the basis of data with orientation to consumer demand is performed.
- Completely automatic generation of price recommendations.
- Completely automatic generation of lists of goods on monitoring of competitors.
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