Intelligent & dynamic pricing
Dynamic pricing
Intelligent prices
Intelligent pricing goes a step further, allowing you to set prices automatically based on a range of key factors so you’re always focused on the right products. Factors considered in automatic pricing include:
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Competitors prices
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Stock value
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Stock status
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Sales volume
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Cost price
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Price history
All automated
Dynamic product groupings
Slow movers
Products that haven't sold in the last 30 days or have over 50 units in stock will automatically move to a dynamic price rule that activates more aggressive pricing.
High performers
Products with a conversion rate of over 10% or more than 50 units sold in the last 30 days will automatically be added to a dynamic pricing rule that optimizes your profit.
Track the performance
Integrating Google Analytics with PriceShape allows you to view your product performance in one place. You can collect relevant data and act on key metrics such as profit, revenue, conversions, visitors, and sales.
Choose the right pricing strategy when using dynamic pricing
Dynamic pricing offers a range of strategies that can be tailored to fit your products and business model. The key is to choose the approach that aligns with your goals and market position. If your company doesn’t yet have a clear pricing strategy, asking the right questions is a great place to start:
- Which competitors do you want to see?
- What is your minimum acceptable profit margin?
- What price positioning do you want to achieve—lowest, middle, or premium
- Should you ignore competitors that are out of stock?
By answering these questions, you can build a pricing strategy that will help you use dynamic pricing. PriceShape provides the tools and insights to help you implement your strategy correctly.
Increase profit with intelligent pricing.
With PriceShape, you can do more than just lower prices to stay competitive—you can also increase profits by raising prices where you’re already the cheapest in the market.
If your product is 10% cheaper than the second cheapest competitor, why not adjust your price to be just 1% cheaper? This small change can significantly boost your margins while keeping you competitively priced.
Our intelligent pricing tool helps you identify these marketing optimization opportunities to raise prices strategically, allowing you to maximize profitability without giving up your market position.
Select the competitors you want to match
With PriceShape’s dynamic pricing tools, you can strategically match or undercut the prices of specific competitors. By targeting key competitors, you can position your business more effectively, ensuring you remain competitive where it matters most.
PriceShape can give you an overview of your competitor price monitoring, so you have the exact overview you need instead of several irrelevant competitors.
This level of precision ensures that your pricing strategy keeps you competitive and aligns with your business goals and profit margins.
The onboarding process at Priceshape
Our top priority is building a solid relationship with you and your team while gaining a deep understanding of your business, your pricing strategies, and how you use our platform. That's why we've created a simple onboarding process with our dedicated Customer Success team to ensure you get the best possible start with PriceShape.
1. Strategic meeting: Understanding your business goals, your approach to intelligent pricing, and your objectives for using PriceShape to implement dynamic pricing strategies.
2. The Technical Meeting: This meeting will cover setting up your account from start to end, setting up strategies, reports, dashboards, and filters.
3. Best practice meeting: Our onboarding process concludes with a best practice meeting to ensure all tips and tricks are placed in your bucket.
You will be assigned a personal Customer Success team member, ensuring a consistent point of contact who understands your business, goals, and pricing strategy needs. of contact who understands your business, goals, and pricing strategy needs. here
Automated pricing in marketing and branding
Automated pricing plays a crucial role in creating your brand perception. As a retailer, your pricing strategy isn’t just about being the cheapest on the market—it’s about aligning your prices with the value your brand offers. You may provide superior customer service, faster delivery, or a better shopping experience. This added value can justify positioning yourself differently in the market.
With PriceShape, you can strategically price your products in line with your brand image. Instead of always competing to be the cheapest, you can use our platform to set your prices as the 3rd or 4th lowest in the market. This allows you to maintain profit margins while still standing out for the service and experience you provide.
Automated reporting with performance analytics
With a report in your inbox every morning, you can analyze trends and make fast decisions regarding your products and their dynamic pricing using advanced pricing analytics. The reports will also be used as a valid foundation for pointing out the direction of your brand and price position to win the market.
Whether you want to track stock status, price changes, competitor pricing, or other key product performance metrics, you completely control what information you receive. This helps your team stay focused on the most relevant data, saving precious work time and reducing workload.
FAQ
Do you still have questions?
Please look at all the frequently asked questions or contact one of our specialists.