To increase profit from the sale of promotion-dependent products, it is required to: a -
identify all such products, b -
set a lower limit for the regular price that ensures a sufficiently deep discount (e.g., 30%), c -
calculate the maximum price for each promotion-dependent product ●
that is higher or equal to the "lower limit of the regular price," ●
that ensures the same sales volume during regular price periods as with the "lower limit of the regular price."
The Imprice platform enables automatic calculation of optimal prices
for promotion-dependent products through the following steps: 1 -
The analytical module identifies the complete list of promotion-dependent SKUs
. 2 -
For the products in this list, AI-driven algorithms optimize prices
; that is, they calculate prices that maximize gross profit during regular price periods: ✓
the retailer's team set the range within which the algorithms can change prices, ✓
they set the lower limit equal to the lower limit of the regular price, which ensures a possibility to make a deep discount during promotions.
How AI-driven price optimization works is described above