Quantzig Drives Pricing Optimization by Decoding Competitor Strategies for Electronics Retailers

Pricing has increasingly become a critical issue for organizations, especially in the retail environment. With the rapid advancement of technology, today's customers are more knowledgeable and are turning to online retailing to enhance their shopping experience. To align with evolving customer preferences and to reach the right target customers, leading retail organizations are adopting pricing analytics solutions. Pricing analysis solutions assist businesses in evaluating customer behavior, preferences, and information, thus setting appropriate pricing standards. Moreover, retail pricing analytics enable executives to identify both internal and external factors affecting profitability at a granular level. In the retail environment, pricing analytics solutions improve profitability and market share by defining optimal prices and retail pricing strategies. Organizations can estimate the impact of pricing on sales volume and understand the impact of price differentials on market share. Quantzig's pricing analytics solution enables the client to effectively estimate price-change triggers based on customer behavior, thereby maximizing revenue and profitability. The client can also predict bid prices based on historical data and position products against competitors. The pricing analytics solution also helps the client assess pricing patterns based on geography, thereby maximizing returns on investments.