Imprice cloud-based
dynamic pricing platform

Pharmacy, drugstores
brick-and-mortar

Cosmetics
e-commerce

Grocery
brick-and-mortar

Profit lift

KVI pricing, AI pricing
Pilot test: August 2020

Profit lift

KVI pricing, AI pricing
Pilot test: July-August 2022

Profit lift

KVI pricing, AI pricing
Pilot test: July-October 2022

Profit lift

AI pricing
Pilot test: November 2020

Profit lift

KVI pricing, AI pricing
Pilot test: November 2021- January 2022

Profit lift

KVI pricing, AI pricing
Pilot test: June 2020

Needlework & craft
e-commerce

DIY
brick-and-mortar & e-commerce

Sports nutrition
brick-and-mortar & e-commerce

Case Study: Leading hypermarket chain
hits +6,6% growth in gross profit with Imprice

"FRUNZE" is a leading grocery chain in Kyrgyzstan (Central Asia), focused on customer experience and innovations. In July 2022, the retailer launched a pilot of dynamic pricing in three test hypermarkets, comparing their business results with six control hypermarkets.

JULY - OCTOBER 2022 RESULTS:

Gross profit
growth

Revenue
growth

The company recouped the investment costs in automation.
In November 2022, FRUNZE ran a rollout to implement dynamic pricing across the entire store chain.

CUSTOMER PROFILE:

Industry:
● Grocery

● 47 brick-and-mortar stores
● 25,000 SKUs

Founded:
● 2011

gipermarket.kg

CHALLENGE:

● To hit at least +2% growth in revenue and gross profit


SOLUTION:

● AI-powered Analytics

● KVI pricing, competitive pricing

● AI-driven assortment-level price optimization

More details: Hypermarkets increase gross profit by 6,6% with AI and KVI pricing

What is Imprice

A SaaS-based pricing automation platform
for online and offline retailers.

A transparent solution that allows you to implement any pricing strategy by combining rule-based competitive pricing with AI-driven price optimization based on demand sensing.

System integration in 2-3 weeks.
Prebuilt API makes integrations with your ERP System, accounting software, website, and mobile app fast and easy.

As a result:

Your prices are always optimal.

Leveraging vast sets of real-time data,
Imprice automatically recalculates your prices when conditions change
and helps you realize your profit potential
and prevent demand and profit losses.

Imprice AI algorithms explore demand fluctuations and switch your prices to the optimal level:

1. Set the expected optimal price for the current day or week.
2. Study the demand with that price.
3. Try to increase the price when consumers' willing to pay raises. Try to reduce the price when demand decreases.

Machine Learning tool solves the Exploration–Exploitation Dilemma: to find the best price as soon as possible and exploit it as long as possible

Demand sensing allows you to respond immediately and properly to any change of environment, even to not predictable ones:

✓ lockdown,
✓ a sharp rise in demand,
✓ economic crisis,
✓ competitors' activities,
✓ ...

An example of dynamic pricing impact on profits during the pilot test:

One point of the graph is equal to one week.

One point of the graph is equal to one month.

Imprice machine learning algorithms optimize your prices rapidly, even if you don't have any historical sales data or if your assortment consists primarily of infrequently bought items

AI-based pricing platforms refuse non-food retailers in cooperation commonly.

Those solutions require a high frequency of sales of every SKU, and a massive volume of historical data is essential for neural networks training.

/ AI - artificial intelligence /

Imprice AI-driven optimization doesn't require a vast set of historical sales data for launch.

✓ Our solution optimizes prices efficiently for both types of retailers, with frequently bought items in assortment and only infrequently bought ones.
✓ With Imprice, you can optimize prices individually for every offline store and each online store region.

The subscription starts at €990 per month.
Read more

-Sounds great! And what if we already collect competitors' prices with vendor X?

- In this case, we will integrate Imprice and X easily.
Imprice will load your competitors' data from X automatically, without an additional fee.

- In our company, we use some particular reports and charts of pricing and sales.
Is it possible to generate them automatically with Imprice?

- Sure, let's discuss that! We create additional reports and charts for our customers rapidly. That option is included in every subscription plan.

Prebuilt API makes system integrations easy and fast

Data moves between your systems and Imprice automatically.
Data exchange doesn't require the time of your IT-specialists after the integration.

Generally, setting up data exchange between Imprice and your ERP System, Accounting software, website, mobile app takes two weeks.

Roadmap for a pilot test with Imprice:

1. Technical integration
2. Deploying and setting up the project

2 weeks

3. Preliminary prediction
4. Pricing strategy

2 weeks including data preparation and analytics

5. Pilot test design

1 week after the approval of the strategy

6. Pilot implementation

1-2 months depending on the dynamics of indicators

7. Pilot results evaluating

8. Scaling

Imprice:

Your pricing specialist:

Your company:

● The platform automatically collects competitors' data for each SKU - prices, stocks, markdowns - or automatically loads competitors' prices collected by your vendor.






● Imprice automatically loads data from your ERP and other sources for every SKU: demand indicators, costs, inventory turnover, stocks, supply dates, ...

● Imprice monitors if profit and demand crucial factors changed, instantly recalculates your prices according to those changes, and automatically uploads new prices to your ERP, data exchange system, website, other systems.

● Repricing runs automatically - in the daytime, at night hours, on weekdays, on weekends, on holidays - with automatic or manual approvals. Imprice allows repricing every 10 minutes if it's essential to your company's goals.

● On the first day, the pricing specialist enters rules and constraints into Imprice for optimal prices calculating. Imprice experts help to create rules according to the approved pricing strategy.




● Pricing specialist monitors and evaluates results of dynamic pricing leveraging an advanced analytics Imprice module.
Imprice provides perfect tools making the pricing process transparent: a set of dashboards, charts, reports, plus a complete history of all changes for any segment of goods, any specific SKU, and any pricing rule and pricing logic.

● With Imprice analytics, the pricing specialist gains insights and ideas into additional opportunities to increase revenue, gross profit, and average order value.
He quickly and easily
tests his hypotheses,
working on the Imprice platform for up to 1 hour a day.

The company gets the growth of financial indicators according to business goals:




● gross profit increasing,

● revenue growth,

● margin growth,

● Average Order Value growth,

● ...

Additional staff required:
zero person




Investment required:

● A subscription fee of Imprice.

● It pays off in the first month after implementation.

How Imprice AI modules work

1.

2.

3.

The module identifies all KVIs in your goods assortment and ranks them according to the recommended price position against your competitors. For each KVI, the AI-driven algorithms calculate the most profitable price position relative to your competitors: for some KVIs to keep the lowest price is crucial, and for others, third or fourth place or average market price is better.

For each SKU, the module identifies a list of competitors that significantly affect your sales of this SKU, analyzing the history of price changes of competitors and data from your ERP.
It's essential to base your price calculations on the key competitors' prices; the Imprice platform does it automatically.

The module finds the optimal set of prices under current conditions. "Optimal" means, implementing that price configuration, your company achieves the maximum gross profit, revenue, or sales volume at the assortment level. Machine learning algorithms evaluate goods' cross-impact and segment items by their roles in the consumers' basket: basket drivers, traffic drivers, profit drivers, complementary goods, substitutes, and others. Then each segment gets its optimal pricing strategy according to your business goals.
The solution also allows you to optimize the prices of a specific category of goods and rapidly find optimal prices for new items.

How Imprice rule-based modules work

Your company determines business goals and business tasks.
Imprice allows setting individual tasks for specific zones, stores, consumer categories, product groups, segments, brands, and SKUs.

1.

2.

Your pricing specialist transforms each business task into rules for price calculation.
The rules are respected business constraints (e.g., minimum price, minimum margin, maximum price) and all essential factors.
If necessary, Imprice experts will help you formulate business tasks, pricing strategies, and specific pricing rules.

3.

Your pricing specialist enters pricing rules into Imprice.

4.

Imprice automatically recalculates prices according to the entered rules, using current data from your ERP and your competitors' prices data. The platform automatically uploads new prices to your ERP, website, mobile application, data exchange system. The minimum interval for recalculating prices is every 10 minutes.

5.

Your pricing specialist analyzes the results, looking for new opportunities for price optimization. A powerful analytics Imprice module - reports, charts, dashboards, a complete history of all data and all changes - helps him gain pricing insights.

Automated considering of competitors' prices

Imprice automatically recalculates prices considering changes in competitors' prices, all internal factors, and constraints.

Minimum price recalculation interval -
every 10 minutes.

All data for efficient competitive pricing
within a single window

Competitors' data:

History of all data and rules changes and analytics:

Cost prices, inventory turnovers, stock levels, future supplies, margin constraints, aimed price position against competitors, and pricing rules.





Imprice automatically loads goods data from your ERP system.

Actual prices, promotions, markdowns, competitors' stocks, RRT.

Imprice allows setting an individual list of competitors, pricing rules and scenarios, types of prices for every specific brand, store, region, goods segment, and even SKU.





Imprice automatically collects your competitors' prices or automatically loads those prices from your vendor.

Imprice stores your SKUs' prices, pricing rules formed those prices, competitors' prices of competitors, the position of every price against competitors, margin, and revenue of each date.

Imprice makes reviewing and analyzing the data incredibly convenient.






Imprice helps to explore data aggregated by region, brand, and goods segment, shows dynamics of indicators, charts, dashboards, assortment intersection with competitors, competitors' price indicators.

It's easy to create and manage pricing rules with Imprice.
It's easy to analyze competitors and your own prices.

● Increase gross profit.

● Remain an aimed price position of goods with a high level of competition, protecting your margin. Based on varying competitors' current prices, cost price, inventory turnover, margin constraints, and RRP, dynamic repricing helps you manage this complex task.



● Improve inventory turnover across the whole chain, in a specific product group, in a particular store, for particular brands.



● Increase profits for specific brands in each region, leveraging individual pricing rules for each zone considering the competition level, demand, level of stocks, costs, and other factors.




● Launch efficient zone pricing. Increase margins for regions with low competition level. Implement a strategy of attractive prices entering a new market, confident you don't cut your margin more than necessary.

● Promote your mobile application, motivate your consumers to use their personal account on the website, making private special price offers.




● Manage secret sales only for your customers easily. Automatically calculate special prices and automatically upload them to your mailing platform, your app, your website, personal accounts of specific customers.

● Increase your sales and (or) profits in a specific customer segment: make the "gold customers" segment buy more, or return customers who didn't buy anything for a long time.





● Automatically identify KVIs across all categories and brands. Implement a KVI pricing strategy maximizing your company's profit, considering the current stock level and competitors' prices.




● Increase your profit for goods that have a recommended retail price.