The Quicklizard platform helps online, omnichannel and brick & mortar retailers identify optimal price points to increase revenues and profits through every sales channel.
Pricing managers can focus on developing pricing strategy rather than spending their time tracking competitors and updating excel sheets. The result is increased sales, higher profits, and improved pricing implementation across all product lines.
Pini Mandel
pini@quicklizard.com
https://www.quicklizard.com/
Our Representatives
Company's Solutions
A Recognized Dynamic Pricing Leader
Quicklizard, a 2020 Top 10 Artificial Intelligence Solution Provider according to Retail Tech Insights, offers a flexible dynamic pricing platform that routinely increases revenues by up to 30% and increases profit margins by up to 10%.
Internal and External Data Synthesis
Quicklizard’s AI and machine-learning-based platform analyzes data from both internal and external sources as it determines the ideal price to make a sale. Some examples of that data are in the following list.
Internal Data Sources:
- Inventory levels
- Product expiration dates
- Customer behavior data
- Historical sales patterns
- Products costs
External Data Sources:
- Competitor pricing
- Holiday events
- Seasonal changes
- New model releases
The AI engine uses algorithms to determine a price, and machine learning to continually improve on its pricing recommendations.
Modes of Operation
Quicklizard offers three different modes of operation:
- AI Dynamic Pricing – In this mode, the system is entirely AI-based, using off-the-shelf algorithms to recommend and implement pricing.
- Rule-Based Dynamic Pricing – In this mode, users define rules and constraints to limit pricing flexibility based on an overall pricing strategy.
- Hybrid AI & Rule-Based Pricing – In this mode, the system applies AI recommendations (80%) within the confines of user-defined rules (20%) to identify the ideal selling price.
Benefits of the Quicklizard Platform
- The pricing automation platform ensures accurate implementation of your company’s pricing policy across channelswith 100% catalog coverage.
- The dashboard gives users full control over the AI and rule-based pricing strategies.
- The system offers a real-time response to changes in competitor pricing, costs, and user behavior.
- Fast implementation and easy integration with common commerce, retail and ERP platforms.
- Seamless sync of approved prices into commerce of ERP platforms.
Features
The Quicklizard platform includes the following features:
- Product data management
- Pricing rules manager
- Dashboard
- Full customization
- Reports and recommendations
- Automated pricing and recommendations
- API
- A/B testing
- Campaign management
- Visibility and control
Prominent Case Study
Scoring Record Profits for an Omnichannel Sporting Goods Retailer
A European sporting goods retailer with over 600 retail outlets, a vibrant online presence, and €400M in sales. Sales came through 3 channels. Retail stores, online orders, and click-and-collect orders, where an order was placed online but picked up by a consumer at the retail store.
The company was selling merchandise at the same price through all three channels but believed that dynamic pricing would boost their revenue and profits. Quicklizard recommended real-time dynamic pricing for both the online and click-and-collect channels, and dynamic price updates every three days in the retail outlets.
Stunning Results
The Quicklizard platform was implemented, and pricing was optimized for each channel. Over a 5-month period, the retailer saw a 9.2% overall sales increase. Profits rose across all channels as well. The online and click-and-collect channels, using real-time pricing updates, saw a 15% increase in profits, while offline retail outlets increased profits by 8%.