AI-powered pricing platform, Quicklizard, has today at NRF Big Retail announced the launch of its new pricing modules aimed at tackling the business challenges faced by retailers worldwide. The new pricing modules will allow businesses to navigate inflation, seasonal pricing, price elasticity and inter-product relationships using AI-powered best practices. Quicklizard is an AI pricing optimization platform that enables retailers to monitor, calculate and apply optimal prices based on real-time market trends and business goals.
The first of its kind technology formulated by Quicklizard will ensure that retailers will be able to implement a robust pricing strategy that can understand the complexities of fluctuating markets and external factors that impact retailers. The platform enables retailers to automate their pricing strategies and move from manual pricing to a smart, fully automated digital pricing infrastructure. Now, more than ever, retailers need to be able to react in real-time and factor in multiple data sources and economical variables such as regions, currencies and regulatory requirements that pose a real challenge to implementing and maintaining effective pricing strategies. The new product will allow retailers to operate to their full potential by solving pricing problems in real-time. The new modules are based on extensive customer experience Quicklizard has gathered over the years with their expert technology, algorithm, AI and machine learning capabilities. This turns their solution into a one-of-a-kind pricing engine to serve retailers better than ever before.
Traditional mathematical methods cannot adequately depict the complexities of today’s competitive market. According to a RIS News and DemandTec by Acoustic survey carried out in May, AI-powered pricing is now a major focus for 10 percent and a moderate focus for 30 percent of senior US executives from large or national retailers. A study entitled Priceless: How AI can win the retail pricing war found that manual processes account for 40 percent of pricing capabilities, while 53 percent deploy a mix of automation and manual processes. Just 7 percent are fully automated in this area. Quicklizard’s new product will allow retailers to automate pricing strategies and move from manual pricing to a smart, fully automated digital pricing infrastructure. The new suite of pricing optimization and enrichment modules will aim to advance pricing standards at scale and allow retailers to build more complex pricing strategies that both align with and serve business goals.
Quicklizard recognises the importance that pricing can have on retailers businesses and the variables that can impact their pricing strategy. The new modules will ensure retailers across the US that avail of Quicklizard’s new technology will have a pricing strategy that works in real-time and delivers fast results and ongoing improvements.
Commenting on the launch of their new AI-powered pricing solutions, Co-Founder and CEO of Quicklizard, Pini Mandel, said:
“We are delighted to announce the launch of our new AI-powered pricing modules that will transform how retailers do business and have a significant impact on their bottom line. The past few years have been a tumultuous time for retailers, and this doesn’t look to settle anytime soon as we begin 2022. Our first-of-its-kind technology will allow retailers to navigate rising inflation and the ongoing uncertainty brought by the global pandemic. We hope that through these new modules, businesses throughout the world will have access to robust pricing strategies that ensure that they can overcome any pricing challenges that they may face.”
Quicklizard is an Israeli technology company that provides AI-powered dynamic pricing technology for e-commerce, brick and mortar, and omnichannel retailers. The Quicklizard platform can be integrated and launched within weeks, giving retailers the power to implement data-driven dynamic pricing models quickly and efficiently. Quicklizard uses machine learning to analyze several factors and optimize pricing for its customers, enabling retailers to compete with some of the largest players in the global omnichannel retail industry. The company currently employs more than 50 people, who are spread between Quicklizard’s headquarters in Israel and its touchpoints in Denmark, Germany, France, the UK, Norway, Italy and the US. For more information see www.quicklizard.com.