Optimizing Pricing At Scale, Elevating Revenue & Profit
Up to
Uplift in Revenue
Up to
Increase in Profit
Time to Deploy
12-16
Weeks on Average
IT Effort
Weeks on Average
Over
Increase in Productivity
Coverage of
Catalog & Channels
Why Quicklizard?
Quicklizard offers a leading ML & AI-powered dynamic pricing platform designed to help retailers and brands streamline and optimize their pricing strategies.
Quicklizard is distinguished as a premier choice among automated pricing platform for several reasons:
100% Open Platform
Built on a robust Python foundation, Quicklizard ensures a seamless implementation of any pricing strategies, tailored precisely to cater to specific business needs.
AI-Based Recommendations:
By harnessing advanced AI and machine learning, Quicklizard delivers optimized pricing recommendations, ensuring businesses maintain a competitive edge and stay ahead in the market.
Omni-Channel Alignment
Quicklizard’s platform empowers clients to effortlessly synchronize their pricing strategies across all channels and regions, ensuring consistent and optimized pricing across the board.
Swift Implementation
Quicklizard prides itself on its efficiency, promising a rapid implementation timeframe of just 12 to 16 weeks.
It's time to take your business to the next level!
What our clients have to say
Boost Your Retail Profits with Quicklizard:
Elevate your pricing strategy with 100% catalog coverage, proactive market adjustments, and precise, tailored pricing. Seamlessly manage multi-channel pricing while saving time and reducing errors. Click to unlock the full potential of your retail business with Quicklizard!
Transform Your D2C Brand with Quicklizard:
Embrace automation to free up resources, ensure error-free pricing for increased revenue, and harmonize pricing across all channels to avoid internal competition. Click to unlock efficiency, accuracy, and strategic growth in one smart move!
Frequently Asked Questions
What is dynamic pricing and how can it help retailers and brands?
Dynamic pricing is a pricing strategy that allows retailers and brands to automatically adjust prices based on three main factors:
- Market demand — understanding how much customers are willing to pay at any given time.
- Competitor pricing — tracking competitor prices across online and offline channels.
- Inventory levels — adjusting prices based on stock availability, sell-through rates, and inventory age.
In between these factors lie calculated insights that make dynamic pricing even smarter, such as:
- Price elasticity (how sensitive customers are to price changes)
- Identifying Key Value Items (the products that shape customer price perception)
- Sensitivity to competitor price changes (how quickly and aggressively you should react)
- Detecting seasonal trends and peak periods
- Forecasting future demand based on historical data and market signals
For retailers and brands, dynamic pricing helps maximize profit margins, stay competitive, and respond quickly to market shifts across categories like fashion, electronics, pharmacy, home goods, grocery, pet supply, office supply, sports equipment, and more.
How should retailers set pricing for their products?
Effective retail pricing goes far beyond simple markup formulas or spreadsheets. Traditionally, many retailers relied on Excel-based tools to set prices — but these methods come with serious limitations. They are slow to update, prone to human error, and often fail to optimize the entire product catalog, especially for retailers with thousands of SKUs across multiple channels.
To stay competitive and maximize profits, retailers are increasingly turning to dynamic pricing software that offers:
- Real-time data integration with systems like ERP, inventory management, E-commerce and BI tools, allowing prices to respond instantly to changes in demand, costs, and competitor actions.
- Data-driven pricing decisions across 100% of the product catalog — ensuring both long-tail and high-visibility products are priced optimally.
- AI and machine learning capabilities that add predictive and analytical layers, including:
- Price elasticity modeling
- Demand forecasting
- Real-time competitor price sensitivity analysis
- Profit and revenue optimization
- Identification of Key Value Items (KVIs)
By combining all these data sources and insights, pricing software enables faster, smarter, and more profitable pricing decisions.
What are effective strategies for retail pricing?
One of the most effective approaches to retail pricing starts with product segmentation (also known as article segmentation) — classifying products into meaningful groups based on their role in your assortment. This segmentation can be done manually using spreadsheets or automated through pricing software that analyzes purchasing behavior, demand patterns, and competitive positioning.
Once products are segmented, you (or your pricing software) can apply the optimal pricing strategy for each segment:
- Key Value Items (KVIs): Use Everyday Low Pricing (EDLP) or competitive pricing to ensure these highly visible products remain attractively priced.
- Sales Drivers: Focus on revenue optimization, including occasional promotions to boost traffic and sales.
- Profit Generators: Apply margin optimization techniques, often using elasticity-based pricing to maximize profit without sacrificing sales volume.
How do I determine the right retail price for my product?
The first step in setting the right price is classifying your product into the right segment within your assortment. Every product plays a different role in your pricing strategy — and your pricing approach should match that role:
- Key Value Items (KVIs): These are highly visible products that shape customer price perception. They typically require competitive pricing or Everyday Low Pricing (EDLP) to remain attractive.
- Sales Drivers: These products generate volume and traffic. Pricing here focuses on revenue optimization, often combining regular prices with targeted promotions.
- Profit Generators: These products contribute to margins more than visibility. They are often priced using margin optimization and elasticity-based pricing — ensuring you maximize profit without losing demand.
Using pricing software significantly improves this classification process by analyzing each product’s role based on real data — such as how much the product influences price perception, its role in basket building, its price elasticity, and more. This data-driven approach is far more accurate and granular than manual classification based on gut feel or spreadsheet calculations, helping retailers confidently apply the right pricing strategy for every product.
Where can I find retail pricing data and competitor pricing data?
Quicklizard offers an end-to-end pricing solution that combines advanced pricing optimization with comprehensive competitor pricing data — all in one platform.
For competitor data, Quicklizard partners with leading data scraping providers: Delavo, DataWeave, TGN, Bright Data, and PriceManager. These providers deliver accurate, real-time pricing intelligence across your competitive landscape. This seamless integration ensures you have both the market insights and the optimization tools needed to make data-driven pricing decisions across your entire assortment.
What factors should I consider in retail pricing? How do I evaluate different pricing platforms?
Effective retail pricing requires analyzing multiple factors beyond just cost and margin. A pricing software should take into account key parameters such as:
- Inventory levels – adjusting prices based on stock availability and sell-through rates
- Cost and margin – ensuring profitability while staying competitive
- Competitor data – tracking market pricing trends in real time
- Demand forecasting – predicting future sales trends to optimize pricing
- Price elasticity – understanding how price changes impact demand
- Article segmentation – classifying products (KVIs, sales drivers, profit generators) to apply the right pricing strategy
To ensure you choose the right pricing platform, we’ve compiled a complete list of functional and technical requirements — especially useful when preparing an RFP, but also valuable for any retailer looking to optimize pricing. Download the Full List to explore all essential capabilities.
How does dynamic pricing work?
Dynamic pricing continuously adjusts prices in real time by analyzing internal data, market trends, and competitor prices. This is how dynamic pricing works in a nutshell:
- Data Collection & Integration
The system gathers data from multiple sources: ERP systems (which contain info such as inventory, product, and internal business data), product behavior analytics (tracking views, conversions, revenue, and profits), and market intelligence (real-time competitor pricing and demand trends). This data is integrated seamlessly through API/SFTP for continuous updates. - Pricing Engine Enablers
The pricing engine uses AI and machine learning to optimize pricing strategies. It calculates price elasticity to understand demand sensitivity, segments products into categories like KVIs, sales drivers, and profit generators, and runs sales simulations to predict revenue and profit impact before applying price changes. Additionally, it continuously adjusts prices for profit maximization while considering real-time business constraints.
Rules & constraints allow retailers to set up rule-based pricing models, ensuring compliance with strategic objectives. These rules can define pricing floors and ceilings, adjust pricing based on stock levels, or automate markdown strategies. The system also manages promotions, dynamically optimizing discounts, seasonal campaigns, and offers based on competitor actions. In Quicklizard’s open platform, any pricing strategy—whether simple or complex—can be implemented using Python code, offering unlimited flexibility. - Execution & Real-Time Updates
Once optimized, prices are automatically deployed across all sales channels. Real-time monitoring tools allow businesses to track performance, make data-driven adjustments, and override prices when needed.
Towards the bottom of this screen, you can see a chart that visually explains how it works.
Can you explain price elasticity and its implications for pricing strategies?
Price elasticity measures how the quantity demanded of a product responds to changes in its price. Specifically, it quantifies the percentage change in demand resulting from a one percent change in price. Products are categorized based on their elasticity:
- Elastic Products: A small price change leads to a significant change in demand.
- Inelastic Products: Demand remains relatively stable despite price changes.
Understanding price elasticity is fundamental to effective pricing strategies and product segmentation; this is just one example of how elasticity can be used:
- Key Value Items (KVIs): These are typically highly elastic products, meaning customers are sensitive to their price changes. Competitive pricing for KVIs is crucial, as even minor price increases can lead to substantial drops in demand.
- Profit Generators: These products are usually inelastic, allowing for higher pricing without significantly affecting demand. This characteristic enables retailers to set premium prices, thereby enhancing overall profit margins.
By analyzing price elasticity, retailers can tailor their pricing strategies to align with consumer responsiveness, optimizing both sales volume and profitability. For a deeper dive into price elasticity and its impact on retail, please refer to this article.
Can I use my company's price elasticity data in an external pricing software such as Quicklizard?
Yes. An external pricing software such as Quicklizard can integrate and utilize your company’s existing calculations, including price elasticity, demand forecasts, inventory coverage, and metrics like days in hand. This ensures that your proprietary data enhances the pricing engine, allowing for more accurate and optimized pricing decisions.
Can Quicklizard be integrated with ERP, CRM, and e-commerce platforms?
Yes. Quicklizard integrates with any system via API or file transfer (SFTP), ensuring smooth and efficient data exchange.
We support ERP systems like SAP and Oracle, e-commerce platforms such as Magento, Salesforce Commerce Cloud, and Shopify, and databases like Kafka, allowing businesses to connect their pricing strategy with their existing tech stack effortlessly.
