Price optimization at Find Me a Gift - The UK e-commerce retailer uses artificial intelligence to maximize revenue and sales
Price optimization at Find Me a Gift - The UK e-commerce retailer uses artificial intelligence to maximize revenue and sales
7 PagesPrice optimization at Find Me a GiftPrice optimization at Find Me a Gift The UK e-commerce retailer uses artificial intelligence to maximize revenue and sales We were running around selling lots of stuff but we wanted to find a way to make each pound work harder for us Jean Grant PURCHASING AND PRODUCT DEVELOPMENT SENIOR MANAGER Client An online retailer selling gifts. Geography The United Kingdom. Challenge Expert-based pricing; over 7,000 of products under management which results in suboptimal prices at least for a part of products. Solution Recommendations of differentiated price changes based on algorithmic predictions of the effect of changed prices on demand. Results 9.3% Revenue grew by 24.7% Item sales surged by Case StudyChallenge Before Competera, Find Me a Gift u
