Scottsdale, AZ, July 26, 2017 --(PR.com
)-- Clear Demand Inc., innovation leader in omnichannel retail price, promotion, and markdown, announced today the issuance of US Patent No. 9,715,702, which presents break-through technology using product attributes for competitive pricing, line-structure pricing, and assortment. “Retailers today cannot compete based on an exact price match alone,” said James Sills, Ph.D., Clear Demand’s Chief Executive Officer. “This technology enables retailers to understand the competitive pressure from the market and price strategically knowing the complete landscape of products and prices carried by the competition.”
“This new capability also enables retailers to optimally price products across line structures within their assortment,” said Adam Rosenberg, Ph.D., Chief Science Officer. “We can now identify the best price gaps between brands and sizes. The technology extends to the widest variety of products including home goods, grocery, vitamins, pet, and apparel. For example, it can be used to identify the price premium of organics compared to non-organics.”
“Our retail clients are using this technology to identify holes in their assortment,” said Brent Lippman, Executive Chairman. “For example, it identifies the best products to introduce under your private label brand. Retail is no longer a SKU-centric business - it is now an attributes-centric business. Retailers must price and assort based on how shoppers perceive the value of each attribute within a product. It requires clean attribute data, but the advantages are compelling.”
Clear Demand has applied this technology to optimize prices in over 8,000 stores in North America. “It enables us to understand how one product will substitute with another without having to engage in laborious product linking. It is critical to understand this substitution to effectively optimize price and promotion,” said Sills.
About Clear Demand
Clear Demand is the first company to deliver an omni-channel retail pricing solution for global retailers which synchronizes prices, promotions and markdowns online and in-store to produce a consistent brand and shopping experience. Clear Demand’s patented science analyzes historical sales to understand shopper sensitivity to price and generate strategy scenarios which account for pricing rules, cost changes, and competitor prices to maximize profit and revenue. Architected on big data and delivered as software-as-a-service (SaaS), Clear Demand’s pricing solutions can be administered from a public or private cloud. Clear Demand’s rules-based pricing approach uses innovations that simplify adoption allowing retailers to see value in just weeks with more transparency and minimal disruption to existing business. For more information contact sales@Clear-Demand.com
or visit us on the web at http://Clear-Demand.com