AI-Driven Price Decisions in Inflation Time
October 13, 2022
The European economy has been shaken by inflation. As a result, CPG businesses are facing the challenges of slowing sales growth and pressurized margins. As the analysts predict, inflation is here for five, six, or even seven years. Therefore, CPG companies need to adapt to inflation as it is now considered the “new normal” and equip their businesses with the right resources, data, and technology to be able to adapt to these new market conditions.
The pessimistic sentiment of consumers in terms of prices is one of the greatest challenges for the CPG industry to navigate. Therefore, companies must determine how to offer attractive prices and provide the best customer service.
AI Store Log Excellence for Real-Time & AI-Driven Price Decisions
CPG businesses are continually trying to balance the protection of volume and margin. In this balancing act, pricing remains the most critical lever impacting on commercial results. But in the conditions of constant market changes, pricing decisions quickly become outdated and can harm margin. Thus, businesses need to learn how to make quick pricing decisions based on real-time data and advanced analytics.
The solution that can help you manage all the elements mentioned above is AI Store Log Excellence (AISLE). AISLE provides quick, near real-time insights into in-store price changes, and produces instant reports. The tool processes, gathers and shares data in an instant, and facilitates quick decision-making in 3 steps:
- Interpret: receive quick in-store price change insights to be the first business to interpret what is happening
- Analyze: use inbuilt analytics for a clear understanding of branded and private label price fluctuations
- Act: use AI-powered reports to make decisions based on facts and multiple points of data collation
On October 6, we held the webinar where we unleashed how AISLE, the IR solution, can power up your pricing strategy and help your business to adapt to changes during inflation faster than competitors. See the content of the webinar in the video below.