price optimization software

Review of Retail Pricing Software

We have prepared full review of each provider to offer you the best solution for retail price management.

Practical Testing

All products were tested by our specialists. According to test results we have chosen the best pricing tools.

Retail Recommendations

We have collected important information to get better knowledge in Price Optimization.
priced software

This is a pricing platform that automatically makes decisions on its own in order to turn any alteration that was created from an intelligent proposed price into profit. It’s ideal for those companies that want to work on their margins, leading sales, as well as want to make promotions that are much more effective alongside smooth management involvement.

Competera Price optimization Software

price tracking tools

Rating: 7.4

Users Reviews: 10

Minderest

Rating: 7.3

Users Reviews: 11

Omnia Retail 

Rating: 7.2

Users Reviews: 7

price management software

Clavis Insight

Rating: 7.0

Users Reviews: 4

Do You Know what Competitive Pricing Is?

Why to Choose Price Optimization Software 

 

We’re all living in an era of huge retail transformation.

In fact, retail as it was used to be in the past, is dead. That doesn’t imply that offline shops will disappear (it’s all about closing the gap between bricks & clicks) or that virtual reality totally replaces physical fitting rooms(even though it’s possible now). Retail transformation is all about shifting the retail model. Top retailers outperform their competitors with successful pricing strategies and technologies that help them meet customer expectations daily. Big retailers, as well as small internet shops, need a price optimization tool, service or solution. With such tool, retailers are able to achieve price monitoring, analysis, management and optimization in a single solution.

Yet, there is a foundation for efficient price optimization: qualitative data.

Considering this requirement, all price tracking tools as a part of retail pricing solution need to deliver data with high comparison percentages, a few zero prices, next-to-zero errors, strictly at the moment when the retailer needs to do price optimization. The best price optimization meet all these parameters and provide retailers with fresh and high-quality data for the market analysis and price optimization. Another element of a powerful solution is price management functionality, its analysis capabilities, and price optimization performance. Only this mix of factors and qualitative data can make a pricing solution useful for the modern, highly competitive multi channel retail world.

 

How to Find the Best Provider for Pricing Optimization?

 

The best pricing solutions provide the user with the following benefits:

  • Shift from Excel to Pricing Software (to improve scale, speed, and accuracy metrics alongside with light experience)
  • Unifying multichannel pricing strategy and tactics. The Click & Mortar Approach.
  • Aligning everything and everybody in a single dashboard. People & Processes & Systems Agility.
  • Understanding of key revenue drivers. How many points of margin improvement do you deliver every day?

There is a list of the most important features retail should keep in mind, when choosing a price optimizing software. It should provide the retailer with:

  • Any volume of Health Qualified Data with a full cycle of data crawling, integration, processing, and analysis
  • Flexible Product Segmentation and Labeling to develop strategic plan and set goals for each of them
  • Price Management and Automation functionality for rapid pricing decision making and implementation of changes
  • Analytical capabilities to measure efficiency of pricing decisions
  • Service Level Agreement (SLA)

As a result, the best price optimizer software is a one-stop-shop for all daily activities of the retail team. It aligns competitive data, pricing rules, inventory management, marketing activities with business goals and strategy. Moreover, it gives business transparency to control pricing efficiency on every level.

 

Choosing the Right Retail Price Optimization Software

As mentioned above, the best pricing software, price management software and price optimization software are pricing tools for retailers of any level who want to:

  • Collect all necessary data and integrate it with retailer’s systems
  • Get correct data processing and auto pricing comparison
  • Visualize data and all anomalies in it
  • Provide data analysis at the fingertips
  • Draw accurate info for efficient price management
  • Build different software pricing models
  • Automate all pricing optimization processes

There are dozens of solutions on the market but only a few of them fully match the list above. You can find a simple pricing tool that collects data a few times per week and sends the retailer a .xls report. Alternatively, you may create a data scraper which would to crawl competitors’ websites to find the prices, though usually, retailers protect their information with captchas and javascript, they may also detect bots and send the wrong prices, which give disinformation to the rival. Data collected in this way is disordered, and as a consequence, very unreliable. It can be good enough for small online shops with a limited amount of products, though it affects pricing because of the number of errors.

There are enterprise solutions on the market as well for huge retailers with thousands of transactions per day. Some of them are highly specialized, and used separately for every task. But it may get so difficult to integrate them in the retailer’s workflow, consisting of such processes as collecting data, cleaning it, making decisions, analyzing their consequences.

We collected all tools like that, to help you find a golden ratio of functionality and price. Use our website to find information about pricing solutions, rank them to help other retailers find their best tool.

best optimization software
price optimization software
pricing optimization software

 Conclusion

 

Retail pricing analytics and price optimization software given to the right hands, drives sales, margins and marketing shares. On the basis of structured data, agile frameworks, and cross-functionality it allows for building a data-driven retail company which knows its customers, helps them, makes it easy for them to shop and provides them with a truly personalized experience.

After hiring the pricing software, don’t forget to analyze its effectiveness and how the competitors reacts to your new repricing models. Involve your price managers, marketing managers, analysts to make repricing a part of all processes of your business. Choose the right software, mix its capacity with your expertise and store’s ecosystem, and dominate the market!


 

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price opimization
Mike Riddle UK, Bristol

Thanks to retailpriceoptimization.com we could choose the best price optimization software for our online shop. I think this website is very useful. Good luck!

 

price optimization
Erika Schindler DE, Frankfurt

We have not heard about tools for price optimization before. My good friend recommended me this website and we decided to try Competera. I can surely say that this rating corresponds to reality.

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Amir Agung Indonesia

Very useful service to choose the best priced software. It provides honest rating and collects all user`s experience. 

price optimization
Anhishek Gayen India

We would like to say thanks to this service. We have big online shop and wanted to potimize our prices. Thanks to information from this website we could choose really effective software. Thank you!

price optimization
Frank Cooperwood USA, New York
Prices are one of the most powerful instrument in e-commerce. That`s why if you want to be successful you must have price optimization strategy. We  really appreciate  work dome by specialists from retailpriceoptimization.com
price optimization
Chao Chang Hong Kong
Very useful portal. I guess any retailer should try price optimization software to see advantages of this kind of software.
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Olivia Andersons USA, LA

I have learnt about Price Tool at the one big conference. We started looking for reliable software and used recommendation from retailpriceoptimization.com . Professional experts advised us  what software to choose according to our goals. Now we can say that it was one of the most important step in business development.

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Eliza Clark USA, Texas

Price optimization is really effective instrument for retail. We know that usually prices play the biggest role in customers decision. Thanks to technologies we have a possibility to track competitors prices and provide considered pricing policy.

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Adam Green USA, Chicago

Great portal. In our sphere we need to be up to date with technologies. Today retail in mostly online business. Competitive pricing is an integral part of general pricing strategy in any retail company.

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John Lewis USA, Seattle

We would like to underline the big help of web project retailpriceoptimization.com for all retailers. Information is really useful for different shopes.

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Elton Roberts Canada, Vancouver

Guys, you did really good work. We hope your project will help a lot of retailers to get better results and offer better prices for customers. Good luck!

price optimization
Adam Parker USA, NY

True rating. I think it will help people to make a good choice.