Price Optimization Software & The Algorithm Behind Business Success – Fuel Sector

Price Optimisation in the Fuel Sector

Price optimization software has traditionally been used by businesses with a limited inventory – such as hotels, airlines or shops, however advancements in machine learning technologies have made it possible to also apply price optimization to a broader range of more complex industries, such as the petroleum industry. Immediate access to huge databases and an overwhelming increase in computing speed allows retailers to keep an eye on the competition and respond to their competitors' marketing strategies timely and accurately.

You don't need to own a gas station to realize that the price of fuel is subject to fierce competitive pressure. It suffices with filling up your tank regularly or watching the news to see the consequences of the 'Yellow Vests' riot in France. So how can fuel retailers benefit from the use of price optimization software? Having higher prices at your pumps than your competitors will rapidly lead to fewer ...

Read More

Pricing Optimisation - The implications of AI and ML in your shopping habits

Machine Learning (ML) + Artificial Intelligence + Pricing Optimisation.

In the age of digital information and e-commerce, our online activity and buying habits have become a widely used currency, especially in the advertising and marketing industry. Under this scenario, there is no wonder that most online retailers have placed a bet on the use of the latest ML (Machine Learning) and AI (Artificial Intelligence) based software to boost their businesses. Amazon is specifically a company leading this sector and recently opened up their own marketplace allowing companies such as Seller Republic to provide their pricing optimisation AI and ML solutions.

What makes AI a safe bet for retailers?

The latest technological advancements in the field of ML and AI have made it possible for computers to rapidly and accurately analyse huge amounts of data. The use of AI algorithms in data analysis allows users to pinpoint patterns and trends and make valuable predictions such as price optimisation. This task ...

Read More

Flipkart takes a bet on Upstream Commerce technology to pinpoint their items pricing optimisation

Pricing Optimisation Driven by AI

Upstream Commerce Pricing Optimisation technology will help Flipkart sellers adjust their prices in real time and be more competitive

Based in Tel Aviv, Upstream Commerce provides cutting-edge retail price optimization solutions that compare prices and items availability across multiple online retailers, including Amazon, Costco, Walmart, or Barnes&Noble. Catering globally to multiple e-commerce businesses and committed to continuous innovation, Upstream Commerce is sure to provide Flipkart with the much-needed technological boost that will allow it to compete with Amazon, its main rival.

Though the acquisition price hasn't been disclosed, this strategic move will allow the Walmart-backed marketplace gain a strong foothold in the e-commerce innovation and data science industry. Flipkart has already made public its intention to increase its presence in the U.S., Asia, and Israel with the acquisition of more technology companies, such as A start-up building voice technology, will make the translation into ...

Read More

eBay accuses Amazon of luring its traders into abandoning the auction site and using the retailer’s platform

Pricing Optimisation - Amazon vs eBay

Amazon's questionable tactics made it into the headlines when the Wall Street Journal published a report according to which the Amazon staff had repeatedly used eBay's messaging system to contact traders in an attempt to convince them to abandon eBay's auction site and use the retailer's platform to sell their products.

In order to protect itself from such unfair competition tactics, eBay sent Amazon a cease-and-desist letter and threatens to take legal actions if this 'unlawful activity' doesn't come to an end.

According to the investigation conducted by eBay, 50 Amazon employees from various locations over the globe have sent over 1,000 messages to eBay sellers. The whole situation came to eBay's attention when one of their sellers contacted the company to inform them that he had been approached by an Amazon employee for questionable reasons. According to the report, the Amazon employees ...

Read More

How can Price Optimization Software boost your business’ performance?

eBay Pricing Optimisation and Automation

In a fiercely competitive and dynamic e-commerce landscape, using the right strategy/tools can make the difference between a business' resounding success and its failure. Using reliable Price Optimization Software allows you to know, not only your competitors but importantly your target customers and their buying habits more in-depth than ever before.

How does Price Optimization Software work?

Price can be understood in terms of an exchange rate on the value of the products or services your business is providing. So determining the optimal price is as crucial as the quality of your products or services. It's no wonder that many industries – such as casinos, airlines, or retail – have for a long time already been using price optimisation practices to maximize their revenues and grow their margins very successfully.

The price optimization method include competitive pricing analytics, dynamic pricing, and predictive pricing to help you determine the optimal price ...

Read More

Is the future of eBay auctions slowly turning sour? Rise of the fixed price sale.

eBay Auctions vs Fixed Price

For most of us, eBay is a synonym of online thrilling auctions with last-minute bidding for that much coveted item. However, avid eBay users know that, right now, approx. 80% of the eBay sales are Fixed Price. When eBay was launched back in 1995, the Auction format accounted for 100% of its sales. Despite the fact that it is still perceived as an online auction marketplace where buyers can still bid for collectibles or rare items that can range from a pair of shoes to cars, the truth is that the Auction format has slowly become obsolete and its future seems bleak. And there are good reasons behind this steady decline.

The transition of eBay from the traditional auction-based system towards the fixed-price one was born out of the necessity to keep up with the tendencies marked by growing agencies such as Amazon, the continuous rise of FMCGs that offer ...

Read More

The Secret to E-commerce Success – Repricing Software

eBay Repricing vs Amazon Repricing - Pricing Optimisation Software

The key to e-commerce growth and success in the long term may not be entirely focusing on growing your traffic. Today the key is to implement precision repricing techniques to boost sales on multiple platforms. When you engage in selling your products or services on famous marketplace platforms such eBay and Amazon, or even if you have your own website, keeping a bird's eye view on your pricing strategies can be a daunting undertaking.

Why is it a problem? Well, you have to spend hours upon hours monitoring your competition's pricing mechanisms – and when you see changes taking place, you have to scurry and change your own pricing system, which is overly time consuming.

The amount of time spent tracking everything could be better utilized in advertising, sourcing products or growing your business on various additional channels. Therefore is it is important that you get adequate repricing software ...

Read More