Retail Tech Insights is an enterprise technology magazine which reaches out to subscribers across the globe. It is the go-to resource for senior-level Retail industry experts and decision-makers to learn and share their experiences with products/services, technologies and retail technology trends
This edition of Retail Tech Insights highlights key developments in AI in the European Retail Market. The magazine also includes a ranking of the Top 10 AI-powered Retail Solution Providers. Within this list, SYMSON is the only Pricing Software.
Here is the complete list of solution providers.
“We are proud to be recognized as an important solution for retailers. Retailers are living in a challenging world. As more price transparency opens up, the more margins go down. We are happy to help them change their current way of pricing towards a new data-driven approach that utilises the latest technology” says Vincent Gelink, CEO of SYMSON.
How does SYMSON help Retailers?
- SYMSON’s AI-driven algorithm can analyse upto 52 different pricing variables to give you customised recommendations for the optimal price for your products and your customers. The optimal price is one that gives you the best possible margin or revenue (based on your business goals) and is a price that your customers are willing to pay.
- Managing prices based on spreadsheets, manual, repetitive tasks or guesswork is often ineffective and very time-consuming. Besides, manual work also carries with it the risk for input errors or inaccuracies. SYMSON’s Pricing Engine allows you to automate your pricing process via the Strategy Builder. In this Builder, you can “drag-and-drop” the desired business rules and combine several pricing strategies to create one winning strategy.
- The Internet gives equal opportunity to everybody. As a result, the retail segment became extremely competitive, with possibly hundreds of other businesses offering the same products or services to the same target audience. In this climate, being aware of your price positioning is crucial for deciding the right course of action. SYMSON offers the opportunity to collect daily market prices from all vendors in the market. With our direct relationship with Google, we can track key competitors adjusting their prices and new competitors emerging in the market. This allows you to gain market share in the eCommerce space.
- Nowadays, customer data can take many forms and come from many sources. Finding accurate and reliable data manually can prove increasingly difficult and risky. SYMSON also facilitates the analysis of customer behaviour patterns. This allows you to see how elastic (or price sensitive) your products are and price accordingly.
SYMSON keeps you fully in control of price positioning and provides you with valuable insights regarding competition and customer insights.
Do you want a free demo to try how SYMSON can help your business with margin improvement or pricing management? Do you want to learn more? Schedule a call with a consultant and book a 20 minute brainstorm session!