HomeByMe integrates dynamic pricing management into its sales operations management solution

Why dynamic pricing management?

Pricing management is a major challenge for retailers, especially in the furniture and kitchen sectors, where prices change rapidly, sometimes even daily. The implementation of this new feature addresses several objectives:

• Master real-time data: In this environment, having instant updates is a real advantage to stay competitive.
• Simplify updates: No more manual updates of supplier catalogs. Automatic price management simplifies this process.
• Create purchase urgency: By adjusting prices daily, retailers can energize promotions and encourage consumers to make purchasing decisions.

How automatic price updates work

The dynamic pricing management feature is based on an easy-to-implement API that connects a brand's PIM (Product Information Management) to HomeByMe's Retail Operations solution. It applies to all non-configurable products. Here are the key steps:

• One-click updates: From Retail Operations, the sales user can update the prices in a quote by clicking the "Refresh Quote" button. The prices of products modified in the PIM or GIP are then updated in real time.
• Targeted updates: Only the requested quote is updated, and only for the user who initiated the request. This ensures precise and personalized management.
• Automatic sales price calculation: If the catalogs are properly configured, the sales price is automatically calculated by applying the retailer's resale coefficient or displaying the supplier's recommended price.
• Geographic flexibility: Prices can be adjusted by store or region, depending on local strategies.

The benefits of this new feature for retailers

Dynamic pricing management offers numerous advantages. It saves significant time by eliminating manual updates, freeing up teams to focus on higher-value tasks. Automation significantly reduces the risk of human error and enhances price management reliability. It improves profitability by providing managers with real-time visibility on margins, enabling them to adjust strategies and maximize profits.
By integrating dynamic pricing management, retailers gain a powerful tool to remain competitive in a constantly evolving market. Future developments of this feature are planned to further enhance price control and the management of furniture and kitchen retailers' activities.

Want to learn more or see a demo of our solutions? Contact us!