“We are very excited to bring our platform for retailers to the US,” said Kathy Perrotte, Managing Director and Co-Founder, at ActiveViam. “At ActiveViam we are constantly looking to deliver pricing optimization solutions that empower businesses to deliver better prices for consumers while simultaneously driving increased revenue in return. Retail brands across Europe are attracted to our ability to help them make better, faster pricing decisions and we are truly looking forward to helping retailers in the US achieve the same results.”
With retail sales in the U.S. hitting a record $6 trillion in 2018 -- with online sales growing 300 percent from 2000-20181 -- price has become a primary decision-maker for customers, and a key competitive battleground for retailers, as a result. Yet, despite the growing emphasis on price many retailers continue to struggle to respond to competitor pricing movements and adapt and optimize their own pricing. Enter ActiveViam.
Built for scale, flexibility, and transparency, ActiveViam for Pricing enables retailers to apply custom pricing rules to hundreds of thousands of items instantly. Users are able to run multiple price scenarios on-the-fly to assess the impact on accumulated margin, competitor index, revenue, and other user-defined KPIs. ActiveViam’s analytics power offers a comprehensive view of the product offering so clients can easily assess the consistency and comprehensiveness of their offering and compare themselves to competitors on any indicator.
“Every retailer is different, meaning their pricing strategy needs to be tailored to fit their own unique goals,” added Perrotte. “Our platform allows clients to create specific rule-based price strategies for every type and category of products and every location. The solution instantly calculates new recommended prices as well as the potential impact on user defined KPIs based on each set of rules.”
The ActiveViam platform is powered by proprietary prescriptive analytics technology, which uses a unique combination of optimization and simulation algorithms to advise on possible outcomes and answer: “What should retailers do on price?” This helps organizations make faster and better decisions, selecting the best course of action after simulating alternatives. ActiveViam’s technology is impact proven, having driven billions of dollars of value for the financial services sector since 2005. Now, ActiveViam is leveraging that same technology to drive value for the retail industry, where it first launched in Europe in 2017.
“From pure-play e-commerce to DTC brands, retailers are under pressure,” added Perrotte. “Retailers need to take advantage of every potential value driver and pricing optimization is the next line of offense in the industry.”
1 Kimberly Amadeo, “U.S. Retail Sales Report, Current Statistics, and Recent Trends,” The Balance, March 19, 2019.