Artificial Intelligence to optimize your pricing and sales
Price Lab is a platform that uses AI to optimize your pricing strategy while monitoring and analyzing your competitors’ online prices.
Companies growing with Price Lab
Our solutions
Artificial Intelligence for price optimization
Increase your weekly sales by up to +6% with our price optimization and sales forecasting tools.
Monitor competitor pricing
Adjust your prices in real time with our scraping bot that tracks changes in your competitors’ prices.
Electronic shelf
labels
Replace paper tags on your shelves with electronic labels that update prices in real time.
At Price Lab we grow every day
Over
Sales increase from fast reactions to competitor price changes.
Over
Growth in contribution margin thanks to our pricing recommendations.
Up to
Sales increase compared to previous prices.
From
Accuracy in our price optimization recommendations.
Solutions for everyone
Designed for e-commerce businesses and retailers of all sizes.
Retail stores
E-commerce
Talk to our advisors and get your questions answered
Price Lab en la prensa
Últimas noticias sobre nosotros
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Frequently Asked Questions
Read some common questions and answers below, or contact us at ventas@pricelabsolutions.com
Retail price optimization is the process of strategically adjusting your product prices to maximize profit and sales. This is achieved by analyzing various data points such as market demand, competition, your costs, and historical pricing trends.
In a competitive market where price is a key purchasing factor, price optimization allows you to:
1. Increase sales: By identifying the ideal price for your products, you can attract more customers and boost sales volume.
2. Maximize profit: It’s not just about selling more—it’s about doing it at the most profitable price. Price optimization helps you strike the right balance between price and profit margin.
3. Improve competitiveness: Adjusting prices based on your competitors’ strategies helps you stay competitive and gain market share.
4. Optimize inventory: A better understanding of demand helps avoid overstocking or running out of inventory.
Price Lab’s AI-powered price optimization solution uses advanced algorithms to analyze large volumes of data and determine the ideal price for each product at specific times. These algorithms consider:
1. Market demand: AI evaluates purchasing trends, seasonality, and other demand-driving factors.
2. Competition: AI monitors competitor pricing and helps you adjust your strategy in response.
3. Costs: AI factors in production, distribution, and marketing costs to calculate the minimum viable price.
4. Historical pricing: AI reviews past pricing performance to identify patterns and trends.
5. Margins: AI helps set optimal profit margins while respecting minimum and maximum thresholds.
6. Inventory: AI adjusts prices to help you avoid overstock or stockouts.
7. Business strategy: AI aligns with your specific commercial goals, whether that’s selling higher volume or maximizing profit.
AI-powered pricing solutions allow you to:
1. Make smarter decisions: AI removes guesswork and gives you data-driven insights to guide pricing.
2. Save time and resources: AI automates the data analysis process so you can focus on strategic tasks.
3. Improve profitability: AI helps identify the ideal price for each product, increasing both sales and profit.
4. Scale efficiently: As your business grows, AI lets you optimize pricing across more products and channels with ease.
Companies of any size and sector that sell consumer products can benefit from AI pricing optimization, including:
– Online stores: AI helps optimize pricing across different e-commerce channels such as marketplaces, social media, and your own website. We also work with digital restaurants.
– Brick-and-mortar stores: AI helps adjust prices by location, customer segment, and time of year.
– Brands: AI ensures consistent pricing across all sales channels and helps protect your brand identity.
Pricing varies based on catalog size, number of pricing recommendations, and sales channels. However, the return on investment is so significant that the tool often pays for itself.
To get an accurate quote, contact us to schedule a free meeting with your team.
We help retailers and e-commerce businesses evolve through the implementation of cutting-edge technology.