Omnichannel pricing solution provider Clear Demand and pricing intelligence leader 360pi have formed a partnership to put powerful new capabilities into the hands of retailers.
Under the joint initiative, 360pi’s real-time price intelligence will be fed into Clear Demand’s pricing platform, which in turn alerts retailers to competitive price changes – including compliance with product-line and pricing rules – to 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.
“Online price transparency has created a ‘competitive pricing imperative,’ in which shoppers’ purchase decisions for certain price-sensitive SKUs are influenced more by price competitiveness than by price sensitivity alone,” said Jim Sills, president and CEO, Clear Demand. “Understanding and executing on these insights can help shape sustainable merchandise and pricing strategies and help retailers avoid the proverbial race-to-the-bottom. 360pi’s best-in-class competitive price intelligence, combined with Clear Demand’s big data analytics, holds the key.”
At 360pi, the company collects billions of pricing and product data points and continues to see an explosion of dynamic pricing which is creating challenges and opportunities.
“Increasing price transparency and price dynamism across categories means these numbers are growing exponentially, adding to the challenge facing retailers,” said Alexander Rink, 360pi’s CEO. “We are extremely pleased to work with retail pricing and analytics leader Clear Demand to help retailers understand what’s happening, and then take effective and sustainable action in near real-time.”