Use AI driven pricing to unlock profits in your ecommerce business
Pricing platform that leverage your data and AI to find the right pricing opportunities of both profit opportunities and price investments within your ecommerce business.
By the team that has used AI Driven Pricing to create customer impact of
Gross Profit Uplift
Revenue Uplift
Stores
Gross Profit Uplift
Revenue Uplift
Stores
Use the power of AI & Data to drive your decisions
AI understands the true impact of price changes at the individual product level. This means you can create unique pricing strategies for each product or category, and see exactly how much revenue and profit each price change will generate before you even implement it.
“Grindbyte has been instrumental in our growth journey. Their team's expertise and dedication have helped us optimize our operations and improve our bottom line. As an ecommerce store owner, I appreciate how they understand the unique challenges we face in the party supplies industry.”
Marika Bonde
CEO, Partytajm
Get Credit and Build Value Perception with Your Customers
You invest in competitive pricing, but customers still don't see you as the affordable choice. That's because you're likely investing in the wrong products. When pricing isn't strategically targeted, customers miss the value you're offering.
“The results from our AI-driven pricing pilot exceeded expectations with more than 7% profit uplift. The strategy was so compelling that we immediately committed to full rollout across all our markets.”
COO
$1Bn Fashion Retailer
Create Granular, Data-Driven Pricing Strategies
Manual pricing forces you into broad, one-size-fits-all strategies that don't work. Your merchandisers struggle to create different pricing approaches for different categories and products, leading to missed opportunities and lost revenue.
“Our pilot rolling out AI-driven pricing delivered over 7% profit uplift without losing any volume or market share. The approach was so successful that our team was fully bought in to complete the rollout across all regions and categories.”
CMO
$1Bn US Beauty Retailer
Create Time Savings For Your Team
Pricing is just one small part of your merchandisers' busy day. They don't have hours to analyze millions of pricing scenarios and determine the optimal price for each product. They need smart tools that do the heavy lifting.
Stop the Race to the Bottom
Simple price-following software kills your profits by making you compete on price for everything. The solution? Only match competitor prices on products where customers actually research and care about price. Let data guide your competitive strategy.
The Results
Proven 4-8% profit uplift through intelligent, AI-driven pricing optimization.
Let us help you do pricing the right way
A tool built by the team that have led the pricing strategies and execution for some of the largest retailers and household names in the world
Price Elasticities
Analyze your full transaction history to isolate the impact on demand coming from a price change on a specific product to identify the right opportunities.
Price Recommendations
Optimize your product assortment and get AI driven price recommendations that is tailored to your strategy, price elasticities and demand forecast.
Demand Forecast
Forecast the demand, profit and revenue of your upcoming price changes, to understand the estimated financial impact of a price change before you execute it.
Define your strategy
Each retailer is unique. Use our strategic tools to tailor a strategy and identify where you should chase profits vs market share.
Product Relationships
Ensure your price families, pack sizes and quality relationships automatically remain in order as your products change price.
Enterprise Ready
Our secure platform is able to scale from medium sized business, to the largest ecommmerce and brick & mortar retail businesses in the world.
We're different from other pricing tools
Along the way as our team have replaced customer's pre-existing pricing tools, we have been able to identify key pain points and reasons why our approach have outperformed
Profit dilutive
Unlike less sophisticated tools that are based on competitor price matching which leads to reduction of margins, our changes are targetted and strategic.
Unreliable elasticities
Capturing the tiny effect of price elasticity and separating it from the impact of marketing, seasonality or other effects is hard and can only be done using AI rather than outdated analytical approaches.
Lack of forecast
Many tools recommend a price move to follow a competitor, without forecasting the impact of the move. Answering the question of the impact of a price increase or decrease requires a reliable forecast
Frequently Asked Questions
Everything you need to know about AI-driven pricing optimization
Is our company a good fit for AI driven pricing?
To take full advantage of AI driven pricing, and allow for sufficient data to allow AI to find the correct patterns, we consider companies with $10M-1B revenue, at least 2 years of sales history, and with a product assortment of 1000+ products to be the most appropriate fit for our pricing model.
What do you mean by Price Elasticity?
Price and Demand (number of units sold) have a direct, correlated demand, but demand is also heavily impacted by other aspects such as Seasonality, Trends, Growth, Marketing Spend and more. Price Elasticity is the isolated correlation of the effect that Pricing have of the overall volumes sold, and allow us to answer the question "If I reduce price by 5%, how much will my demand change?"
What do you mean by Price Optimization?
Unlike less sophisticated tools that that a more naive approach to selecting the "recommended" price such as Competitor Price Matching, or Maximize Profit, our optimization engine can make much smarter decisions and trade offs by considering potentially billions of different pricing decisions, and picking the correct ones that still adhere to the company's overall strategy, product relationships and goals.
Do you serve both Ecommerce and physical Brick & Mortar retailers?
Yes, we have the ability to serve both companies that are purely focused on the Ecommerce channel, but also companies with physical stores that may exist across regions, geographies and countries. Our team have experience from working with retailers ranging from a single country Ecommerce store, to global household names with 9000+ physical stores.
How will you use my company's data?
Our tool will depend on your company's data to create custom Machine Learning models and Price Recommendations that is tailored to your specific business. We will build data integrations to your business that pull information such as Products, Categories, Inventory, Transactions, Prices and Costs to our AI platform. Our product do not require any PII customer data and we never share your data to any other customers on the platform.
What costs are involved when purchasing this product?
There will be a reoccurring monthly (or yearly) subscription fee. This fee is based on your company's data volumes and size of assortment. Generally clients achieve a 8-10x ROI in terms of Profit Uplift vs Fees from using this Price Optimization Tool.
What is your team's expertise in Retail and Pricing?
This tool is founded and built a team coming from the world of top tier strategy consulting, where our team members have been considered the global leaders in Pricing Strategy and Execution. This team have been part of creating the Pricing Strategy, and execution of it through AI based models, for some of the largest retailers and household names in the world.
How quickly can we see results?
Most clients see initial results within 4-6 weeks of data integration. The AI models need sufficient historical data to identify patterns and make accurate predictions. For companies with 2+ years of sales history, we can typically deliver the first pricing recommendations within 6-8 weeks of project start.