Supermarket prices are set to be as low as possible to build throughput and velocity. However, if set too low, margins are erased very quickly, and cash flow can become a bind. How to optimize prices based on demand, inventory, throughput, and overall cash flow position?
Interplay® can leverage AI to optimize sales revenue and discounting within a supermarket or other retail environment. Interplay has nodes to connect to inventory databases, merchandising point solutions, and even schema that can process separate price books for each store within a retail chain. All of these elements interconnect seamlessly to the Full Ecommerce Suite within Interplay called IPC.
As customers buy through the application, patterns emerge in products, time, relationships, and price points. (Obvious example: hamburgers and beer on the weekend before the 4th of July.) A good store manager may know some of these patterns instinctively from experience, but Interplay can leverage cutting-edge AI engines to find even more patterns, including the complexity to advise on optimal price points.
Supermarkets provide an excellent environment for such optimization: consumers are extremely price-sensitive, purchases are repeat and often, and seasonal patterns all apply. Interplay can bring a huge impact to the operations and gross margin for supermarkets and other retail environments.