TAKE ADVANTAGE OF CROSS-PRICE ELASTICITIES AND MAXIMIZE YOUR EARNINGS
Price Optimization: Cross Price Effects
You want to identify functionally similar and thus exchangeable items within your range (substitute goods). To optimize the prices for your product alternatives completely automatically at the same time. To promote the sale of particularly high-margin substitution products. Additionally, you want to know which procducts are often bought together. To identify complementary goods, whose sales change when other products’ prices change. To take cross price effects into account when you automate your pricing. To avoid out-of-stock situations.
The prudsys RDE identifies items within your product portfolio that exhibit strong substitutability or complementarity. The AI takes positive and negative cross price elasticities into account and automatically adjusts the prices of your goods with regard to your target function.
The prudsys RDE identifies exchange relationships between your items and automatically sets the optimal price in real time. The AI promotes the sale of alternative products with high margins or avoids out-of-stock situations, allowing you to maximize your earnings.