AI-based Pricing Optimization Software for Retailers
Public on TASE Feb, 2021
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Quicklizard has developed price optimization software that enables companies to create optimal pricing strategies based on internal and external data. The software uses a company's specific pricing parameters, such as inventory, product and sales history, and competitor catalogues, to calculate the best pricing for each product or service. Quicklizard's semantic technology identifies trends, such as conversion drops caused by competitor discounts and conversion increases caused by out-of-stock items in the competitor market, and responds in real time with pricing suggestions for all of its clients' products, including long-tail. Quicklizard maximizes profits and increases sales and revenues by up to 30% within a month of installation.