All About Retail Price Optimization Using Image Recognition

Boost Per Store Sales With Realtime Pricing Intelligence

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Product Pricing: The Fulcrum of FMCG Sales

Trade in the modern world is impacted by a lot of factors but the price of the product still remains at the top. With the global inflation rates expected to climb up the ladder each year, it is critical for FMCG brands to come up with the perfect orchestration of pricing, promotion, and product assortment. Correct pricing is fundamental because it is the biggest factor that impacts revenue in a short period of time.

What is Retail Price Optimization?

An article in the Harvard Business Review said, The beauty of focusing on pricing is its immediate effect: Prices can be changed on Sunday evening, and new profits start rolling in on Monday morning.”

Retail Price Optimization is the use of mathematical analysis and data interpretation by companies to determine how customers will respond to different prices for their products, through various channels at different points in time. It is a collective set of best practices to ensure that the pricing spectrum of businesses is in complete synergy with the market trends. Retail price optimization also enables businesses to regulate their price models effectively as and when required.

But the pricing process is kinetic and is impacted by a myriad of factors:

Internal Factors
Organizational Factors
Capital Spent On Marketing
Product Differentiation
Cost (and not price) of The Product
External Factors
Elasticity of Demand
Competition
Supplies
Government & Legal Regulations

Primary Issues That Clog The Efficacy of Store Audits:

01

Lack of real-time in-store data analytics

02

Choosing the right pricing strategy that resonates with the business

03

Uncertainty of when to increase prices

04

How to successfully implement the planned retail execution strategy

05

Siloed data systems and inability to make data-driven decisions

Address In-Store Challenges and Get Accurate Data With Infilect

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Eliminating The Challenges With The Help Of Retail Price Intelligence

The Artificial Intelligence landscape is vast and is constantly evolving. The recent advancements in the field have made algorithms smarter, more interactive, and more intuitive. AI-powered algorithms help CPG brands price their products based on data like competitor pricing, customer response, sales promotions, and many more.

Infilect provides proactive recommendations on per-store sales, product offers and competitive pricing. Predictive insights on new product launches helps in architecting  your in-store strategy vs competitor’s strategy.

InfiViz: The Next-Gen Image Recognition AI Custom Built For CPG Brands

Infilect’s flagship product, InfiViz, can help CPG brands grow their profit margins, develop customer loyalty through data-backed observations and eradicate the mystery of setting prices based on hypotheses.

InfiViz - Retail Execution Insights within 60 seconds

Introducing Infilect’s Flagship Product InfiViz

A comprehensive visual intelligence platform for the most accurate, real-time in-store execution insights.

Click n Go store audits
In-store execution insights within 60 seconds.
Competitive intelligence
Compliance monitoring
Lightning fast product setup within 2 weeks
AI-powered sales recommendations
Multi-object & dynamic shelf tracking
Per-store level retail insights

Capturing of high quality in-store images by on-field merchandisers.

Accurately identifies SKUs and display promotions from the images captured from every store.

Critical and actionable execution insights are made available on the InfiViz Dashboard and shared using trackers directly into stakeholder inbox.

Execution insights and targeted action plans are available to on-field merchandisers within 60 seconds.

Trusted by global brands

Infilect customers P&G
Infilect customers ABinBev
Infilect customers Lowes
Infilect customers Britannia
Infilect customers Nestle Purina
Infilect customers Kantar

Proven Impact

2%-5%
Same Store
Sales Lift
25M+
Minutes Saved in
Store Audits
$10M
Trade Payouts
Impacted

We Have Scaled Globally!

Deployed Across
16+
countries worldwide
Covers
400K
stores monthly
Processes
25M
images per month
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