Rocketing Revenue with Generative Pricing
About the Company
A $200M ecommerce retailer, selling bulk household goods, sought to introduce a pricing strategy that maximized profit during a tumultuous macroeconomic climate. Their product catalog consisted of many private-label items, making competitive price scraping ineffective, as there were no other retailers selling the sameSKUs. The company needed a pricing solution that was tailored to their customer base and product selection.
Best-in-Class Pricing Tool Gives Retailer Competitive Edge And Drives Revenue
Price Optimization, Spresso’s generative pricing product, was integral to giving the ecommerce retailer’s merchandising team a competitive edge in a challenging economic climate. The solution was able to do so by allowing for profit and conversion goals to be set at a SKU or campaign level. Due to seasonality, the retailer knew customer traffic would be decreasing on a specific set of low-margin beverage SKUs, so they set a goal of increasing profit without compromising sales volume and conversion. As a result of Price Optimization the retailer was able to net an additional $1.1m in annualized profit.
Grow Velocity Strategy
A selection of SKUs with the goal of accelerating sell-through while maintaining profit targets.
