Powerful AI to Support Your Pricing Strategy
More competitive pricing leads to lower return rates and improved profits. Luminate Market Price uses artificial intelligence (AI) technology fueled by Blue Yonder to deliver pricing strategies reflecting actual demand and real-time competitive positions. This powerful software-as-a-service (SaaS) application tests and measures interactions between price and demand changes. With continuous optimization to align with all channel pricing, Luminate Market Price allows you to optimize hundreds of prices every day while considering the cost and effects of each change.
Features
- Powerful algorithms scientifically determine price elasticity of demand with continuous learning
- Considers store-level and product data alongside time, date and season and other external factors to understand impact on sales
- Supports a variety of pricing strategies including revenue and pricing maximization, pricing rules or a mix of strategies
Benefits
- Increase revenue and margins with better pricing and fewer repricing events
- Save time on price management with low maintenance after initial setup
- Reduce return rates with more competitive pricing
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Find out how Luminate Market Price can help you
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