A Case Study of Automated Pricing

Pricing is a critical component of any business. It can determine the success or failure of a product or service. However, supplier prices are constantly changing, not to mention the pricing of large volumes of products which is highly time-consuming. That’s where automated pricing comes in. By this method, businesses are able to remain competitive while maintaining the right margin. Our team of expert developers focused on scraping data and optimizing the pricing margins for the system in order to set the best prices and stay competitive in the market. In this way, they established an automated pricing system and aimed to stay ahead of the competition by ensuring its smooth operation.

What is automated pricing?

Automated pricing is a method of setting prices using algorithms and data analysis. It includes using software to analyze competitor pricing, market trends, and customer behavior in real-time and adjusting prices accordingly. In fact, automated pricing can be a game-changer when it comes to ensuring your prices are always competitive and minimizing the time and effort you put into pricing each product. These solutions leverage machine learning algorithms and real-time market data to automatically track competitors’ prices and adjust prices correctly. By automated pricing, businesses can increase their profits and reduce the time spent on manual pricing updates.

What was the goal of the project?

The goal was to reach the products of our client in the top 3 searches and secure their place at the top among competitors. On top of that, the prices were changing daily since the prices were automatically adapted every day. Our senior programmers ensured that more than 10.000 prices were set daily by perfecting the automated pricing system and ensuring the smooth operation of the website’s system.

To sum up, automated pricing is a powerful tool that helps you optimize your pricing strategy, increase profits, and stay ahead of competitors. As we’ve seen above, implementing automated pricing in your business requires careful planning and testing, but the benefits are well worth the effort.