AI Dynamic Pricing Software with 10-sec Refresh Rates

In today’s age of price-sensitive, informed shoppers, prices can directly impact conversions and brand loyalty. Shoppers access price comparison apps and multiple data points across channels to find the best prices for any product. Additionally, retail giants like Amazon and Walmart revise their prices every few minutes making it a highly competitive market. Conventional pricing is therefore no longer enough to compete with such retail giants and competitors. Dynamic Pricing helps retail businesses optimize prices in real-time based on market trends, demand, competitor price movements, and pre-defined rules to take advantage of market gaps and offer shoppers the most competitive prices without compromising on product-level margins.

Dynamic Pricing software is an AI-driven eCommerce pricing solution that helps retail businesses automate their pricing strategy to take advantage of pricing gaps left by competitors. It is a rule-based pricing engine that optimizes prices based on multiple parameters and pre-defined rules to offer shoppers the most competitive prices at all times without compromising on product margins.

Yes, repricers or repricing solutions are similar and in some cases even synonymous to dynamic pricing solutions. They both use a flexible, dynamic approach to pricing products online by reviewing and updating prices daily or even multiple times a day to match prices offered by competitors. Although the end goal might differ in either case. For example: the end goal of repricing solutions for marketplace sellers is primarily to win the buy box at all costs by reducing prices. But, alternatively, dynamic pricing solutions are often more sophisticated, use machine learning algorithms to identify market gaps and help optimize prices with the end goal of improved sales and margins.

Intelligence Node’s Dynamic Pricing solution is powered by our proprietary AI algorithms and product matching technology that offer best-in-industry 99% accuracy and 10-second data refresh rates. Our scalable plug & play APIs need minimal to no integration and can be set up within days, not weeks. Further, our sophisticated analytics enable us to track prices for millions of products daily to give you reliable insights and scrape data from global websites and marketplaces for accurate benchmarking. Our rule-based pricing engine gives you the flexibility to decide your own pricing thresholds, parameters, competitors to track, and SKUs to monitor and choose between automated or manual price optimization. Intelligence Node’s Dynamic Pricing solution is language agnostic, making it a truly global solution.

Intelligence Node’s Dynamic Pricing software is powered by its proprietary AI algorithms and patented similarity engine. Its high-velocity, real-time data scraping technology can scrape enormous amounts of data from any eCommerce website or marketplace in the world. This capability gives you the most accurate picture of the competitive landscape and enables you to offer prices that resonate with your shoppers.

Yes, you can completely customize the Intelligence Node Dynamic Pricing solution based on your requirements, budget, and business objectives. From deciding minimum and maximum pricing thresholds, different parameters for price optimization, price optimization frequency, competitors to benchmark against, and SKUs to monitor, you can set and update rules with a click of a button on our easy-to-use, beautifully designed custom dashboards.

As an eCommerce brand or retailer, you should ask the following questions while identifying a Dynamic Pricing vendor to partner with:

Technology: Is the technology offered cutting-edge, intuitive, AI/ML-powered and can automate and streamline my pricing strategy?
Accuracy: Does the solution provide accurate and reliable competitive data and pricing insights that require minimum to no human intervention?
Speed: Does the solution offer real-time or hourly refreshed data? How fast can it be implemented?
Scalability: Is the software scalable to accommodate my growing business needs?
Integration: Is the solution plug & play or does it need multiple integrations?
Costs: Is the pricing affordable and can it offer fast returns on my investment?