Summary 

• Retailers face tough questions about when to raise or lower prices, how to stay competitive, and which products are actually driving profit. 
•  Without visibility into your performance, the market, and customer behavior, pricing strategies can fall short.
• With the right retail intelligence tool, retailers can now benchmark prices, assess profitability, and automate price changes based on data-driven insights.  

Introduction 

Pricing is a critical lever for profitability in retail. However, in the current climate of economic uncertainty, tariffs, and a consumer spending slowdown, setting prices that balance competitiveness with profitability has become increasingly challenging.

Is the Price Right?

When it comes to making smart pricing decisions, there is a lot to consider: 

1. Strategic Price Adjustments: Where should we make price increases/decreases? 
2. Competitive Positioning: How do we ensure our pricing is competitive while reflecting the value we offer? 
3. Market Benchmarking: How do we benchmark against similar items in the market?
4. Segmentation Strategy: How can we optimize our price points to appeal to different customer segments and maximize sales while maintaining margin?
5. Discounting Strategy: How should we react to competitor discounting? 
6. True Profitability: Which items and price points drive the most profitability, and how can we leverage them to encourage repeat purchases and boost customer LTV? 
7. Increasing Automation: How can we automate price adjustments to maximize efficiency and profitability? 

Finding the answer to all of these questions can feel overwhelming, especially when you’re making decisions without the full picture of your performance, the market, and your customers. 

How AI-Powered Pricing Intelligence Works

Luckily, creating successful pricing architecture, making smart price adjustments, and getting the most out of your promotions and discounts doesn’t have to be so complicated. 

To answer these questions, you need connected data. And, to make it even easier, you need insights that surface actionable opportunities, such as suggestions of where to increase or decrease prices based on margin targets, overstocked inventory, or low-converting products. 

With an AI-driven retail intelligence platform, you can: 

1. Visualize and benchmark yourself against competitors’ products by price point, pricing architecture, discount depth, and pricing mix. 
2. Gain insights into your own pricing strategies with tools that analyze your product performance, product & customer profitability, and promotion performance.
3. Automate processes with AI tools that automatically identify products to consider for a price increase or decrease.

Price Like a Pro With EDITED 

EDITED’s best-in-class AI technology uniquely brings together three essential data sets: market, company, and customer. This connected view empowers retailers to go beyond averages and surface insights specific to their business, whether identifying where you’re underpricing, uncovering which promotions are hurting margins, or knowing when to hold firm on pricing despite competitor discounting.

With EDITED Pricing, you don’t just see what’s happening; you get insights on what to do next. From optimizing architecture to automating adjustments, this platform gives you the clarity and confidence to price for profit in real time. See for yourself here.