Manage prices through the product life cycles based on corporate goals. For example, maximizing gross margin, maximizing sales revenue, or reducing inventory to a certain level (e.g. get rid of inventory by a certain date)
Retalon intelligently identifies what drives the sales of each Store/SKU to build the optimal markdown strategy resulting in improved accuracy and profitability.
Users are able to set triggers based on inventory indicators, and price changes account for product performance, available inventory, and inventory levels of similar products automatically.
Users can run multiple ``what if`` scenerios and review proposed markdowns by projected added profit
Accounts for Retalon's accurate demand forecast, seasonality, price elasticity of demand, lost sales, events and many other influencing variables
All Retalon solutions are fully integrated in a common predictive analytics platform.
Pricing has increasingly become more reactive than proactive, leaving many retailers struggling to achieve profitable margins.
How to know when is the best time to mark product down?
What products are elastic to markdown?
What is the best markdown strategy to achieve the inventory reduction goal with maximum profit?
Based on criteria set by user Retalon FORETUNE automatically accounts for any applicable product attributes, seasonality, cannibalization, sales level, inventory standing, corporate policies, constrains and competitive prices. This allows the system to suggest the best price each time, consistently, automatically, and with high accuracy.
A few things to keep in mind when optimizing markdown strategies: