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Clear Demand and 360pi Partner for Dynamic Omni-channel Retail Pricin...
Clear Demand and 360pi Partner for Dynamic Omni-channel Retail Pricing
July 7 2014
recently struck a partnership
that they believe amplifies the role and importance of “dynamic pricing” as a “competitive countermeasure” in today’s omni-channel retail market. The two vendors tout that dynamic pricing is made more relevant today because of the abundance of competitive price data and product information (a.k.a. online price transparency) and made more rigorous because of current big data pricing architectures. The combination aims to arm retailers with tools to compete more effectively.
Clear Demand has identified the need to introduce new demand models that measure shoppers’ sensitivity to competitive price gaps (i.e., certain price-sensitive SKUs are influenced more by price competitiveness than by price sensitivity alone). The vendor offers an omni-channel retail pricing solution that synchronizes prices, promotions, and markdowns online and in-store to produce a consistent brand and shopping experience. Architected on the big data concepts and delivered as a multi-tenant software-as-a-service (SaaS), Clear Demand’s rules-based pricing solutions can be administered from a public or private cloud.
360pi derives profitable insights from product and pricing big data (through monitoring millions of products) with the aim of helping omni-channel retailers, e-tailers, and manufacturers compete and win in a price transparent world. Under this joint initiative, 360pi’s real-time price intelligence will be fed into Clear Demand’s pricing platform, which will in turn alert retailers to competitive price changes, including compliance with product line and pricing rules, and help manage competitive price strategy. This relationship is part of both companies’ initiatives to build an ecosystem of strategy and technology partners that help retailers compete more effectively and leverage their existing technology investments.
Clear Demand’s executive team has built
, and helped shape pricing technology for the last 15 years. In contrast to older generations of retail pricing solutions (e.g.,
, and Khimetrics/
), Clear Demand’s current day pricing architecture/technology can cross channels seamlessly, incorporate big data capabilities from the ground up, not as an afterthought, is flexible enough to operate with merchant pricing systems and adapt to unique retailer requirements for competition and strategy, and is rigorous and transparent (for managing strategies, rules, and competitive pricing).
Retail pricing today requires a new direction and new focus, and the vendor claims to be the first to innovate accordingly. The Home Depot is Clear Demand’s first Tier One published client. Building awareness for innovation takes time, and it all begins with these dynamic pricing conversations.
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