Quicklizard

Petach Tikva,  Not Applicable 
Israel
http://www.quicklizard.com

• Booth: 4456

Quicklizard enables retailers to automate their pricing strategies and move from manual pricing to a smart, fully automated digital pricing infrastructure. Our suite of pricing optimization and enrichment modules advances pricing excellence at scale, based on individualized business goals.

The need to react in real time and factor in multiple data sources and economical variables, such as regions, currencies, and regulatory requirements, poses a real challenge to implementing and maintaining effective pricing strategies. Traditional mathematical methods cannot adequately depict the complexities of today’s competitive market.

In a very competitive landscape, retailers have to use pricing strategies to attract customers. Whereas traditional pricing strategies adjust products’ prices according to retailers’ current situations (e.g. Cost-plus pricing strategy, Value-based pricing strategy and Inventory-sensitive pricing strategy), Dynamic pricing and optimization allow retailers to build more complex pricing strategies that truly align and serve the business goals.
 

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 Press Releases

• Quicklizard The Leading Pricing Platform for B2C & D2C Retailers (Dec 26, 2022)

  Retail is notoriously challenging. The bar for success is high, with so many players in the game and so few winners. To succeed, retailers need to find a balance between quality and cost that appeals to customers without breaking the bank. Dynamic pricing can help retailers strike this balance. 

  Dynamic pricing allows businesses to adjust their prices with the objective of increasing profit while maintaining a targeted level of sales volume. The practice helps retailers optimize their inventory and manage demand so they can sell more high-margin items when there’s high demand, and less expensive items when demand is low.
  
  Ecommerce and other technological advancements have made it easier for manufacturers to interact with customers directly. Manufacturers must master a delicate balance as they can’t significantly underprice or over price their items compared to the retailers. A successful D2C channel comes with unique challenges and opportunities in maintaining a solid relationship between retailers and brands ito protect and promote brand image

  The Quicklizard pricing management and optimization platform makes it easy for businesses to automate and accelerate their existing demand-driven price management processes - allowing them to capture new business opportunities in a very competitive market.

  Integration & Automation

  Full set of REST APIs, Data consolidation of all relevant data sources (ERP, Commerce platform, competitive data) automation of pricing policies (Pricing Engine), roles, approval and auditing, analytics and data visualization. The pricing cadence can be customized to suit your business needs (Daily, Intraday etc).

  Data & Science Driven

  Benefit from our rules based engine ("If-then" formulas) to dynamically adjust prices and respond to changing influencers with a library of preset parameters or  set custom advanced rules via our open platform.

  Optimize prices using machine learning (reinforcement learning) and leveraging our advanced data modeling (product enrichment) such as elasticity, cross elasticity, similar products, etc.

  Proactive, Predictable - Quicklizard is  all about helping you optimize your pricing strategy to maximize your profits. We've got a suite of algorithms that will help you predict market trends, and then optimize prices based on your business goals.

  Full Coverage & MultiChannel - Use the Open Platform to set ANY business rule or create your custom AI algorithms. Cover 100% of your catalog across all Sales Channels.

  About Quicklizard (TASE: QLRD)
  Established in 2010 as a competitive date company, pivoted in 2017 to become a SaaS platform for Price optimization. Today, Quicklizard is the leading pricing optimization platform for retailers and brands. Offering retailers the ability to fully manage their pricing strategies on a single platform that provides the tools, insights and analytics required to achieve pricing excellence. 

• Quicklizard recognized in Gartner 2022 Market Guide for Retail UPPMO Applications (Dec 26, 2022)

  Quicklizard has been listed in Gartner’s July 2022 “Market Guide for Retail Unified Price, Promotion, and Markdown Optimization applications” as a representative vendor for both Short and long lifecycle products retailers.
  
  UPPMO applications use predictive analytics, algorithms, and optimization capabilities to plan and manage every aspect of pricing (i.e., initial, regular, promotion, markdown, and contextualized real-time). These technologies can provide improved pricing and promotion planning and management throughout the entire life cycle of the merchandise. The balancing act between discounting “pain” and margin “gain” is the core function of UPPMO solutions.

  The outlook on the Global economy for 2022-2023 is uncertain and challenging. Businesses and consumers face unprecedented inflationary pressures with the rise of material costs, geopolitical tensions, the increase in the energy price cap, and upward pressure on energy and commodity prices.  

  In this environment, Gartner acknowledges that “ Now more than ever, UPPMO is a “must have ” business process for retailers. Allowing retailers to streamline data and processes across the organization to support and drive new and advanced pricing models. Gartner also identifies the need to utilize AI-based pricing optimization capabilities leveraging price elasticity and advanced data modeling as well as enabling autonomous experience to support frequency and magnitude (the latter is mostly relevant for long lifecycle products).
  
   

  The 2022 report highlights the imperative of streamlining data and processes across the organization to support and drive new and advanced pricing models and the growing need for AI-based pricing optimization. When mapping the impact of different AI-based initiatives in retail, Gartner placed implementation of AI in pricing as High Business Value and High Feasibility. Making a strong case for implementing AI pricing solutions.  

  Quicklizard offers retailers a unified platform for building, evaluating, and maintaining pricing strategies. The Quicklizard platform allows integration (REST API/SFRP) of all data points relevant to building powerful dynamic pricing policies. The most common data sources are the retailer’s product catalog including all custom attributes, competitive pricing, and user behavior analytics.

  Once the data layer is set the Quicklizard pricing engine applies pre-defined or customized rules and AI to determine the optimal price. The platform allows full flexibility in determining rules and functions based on the retailer’s bespoke pricing strategies and business goals. 

  The Dashboard and management tools allow retailers to set workflows, log and track pricing decisions, and view supporting analytics at every level (Item, Group, Category, Channel).

  Specializing in B2C & D2C pricing Quicklizard has active implementations across different verticals, markets, and Sales models. The built-in best practices offered by a SaaS solution with the flexibility of the open platform allow us to offer our customers a robust yet highly configurable and dynamic solution.

  About Quicklizard (TASE: QLRD)

  Established in 2010 as a competitive date company, pivoted in 2017 to become a SaaS platform for Price optimization. Today, Quicklizard is the leading pricing optimization platform for retailers and brands. Offering retailers the ability to fully manage their pricing strategies on a single platform that provides the tools, insights and analytics required to achieve pricing excellence.

• The Next Generation of Dynamic Pricing for Holiday Airlines (Including Case study) (Dec 26, 2022)

  Point to point / Holiday / Smaller Airlines are competing with both large airlines and tour operators  depending on the destination making pricing increasingly difficult to “get right. Tickets are sold not only by the airline but also through GDS providers (such as Amadeus & Saber), brokers and 3rd party partners. Flexibility in both setting schedules and fares is greater than the traditional airline business due to operational and distribution differences. .

  Airlines use RASM as a measurement of financial strength. For low-cost airlines, revenue per available seat mile (RASM) is a crucial measure. Many of these airlines offer substantial discounts on the prices of their standard fares in an effort to draw consumers. The airlines are aware that the income they receive from these entry-level rates will probably not be sufficient to maintain profitability, which is quite similar to the loss leader technique frequently used in retail sales.
  
  Traditionally the main factor considered is load factor versus forecast based on previous year ticket sales. In today's competitive and fast paced changing environment (in both competition and schedule) airlines must adapt methods more commonly found in retail (and especially eCommerce) to set ticket prices.

  In addition, airlines must master the art of upselling, or persuading the customer to buy extras like in checked baggage, Priority access, seat reservation meals, and drinks (ancillaries). RASM is a crucial indicator for monitoring an airline's financial success because it takes these types of revenue into account.

  RASM = Total Operating Revenues/Available Seat Miles

  RASM - Total operating revenue is the income the airline generates from its primary business activities. This includes yield airlines make from selling tickets and  seat upgrade charges, baggage fees, food and beverages, and reservation change fees.

  Available seat miles (ASM) measures the carrying capacity of an aircraft that's available to generate revenue (multiplying the available seats on a plane by the number of miles that plane will fly per flight)

  Quicklizard enables operators to automate their pricing strategies and move from manual pricing to a smart, fully automated digital pricing infrastructure. Our suite of pricing optimization and enrichment modules advances pricing excellence at scale, based on individualized business goals.

  link to case study

• Realizing the power of Competitive Intelligence techniques in Retail (Dec 26, 2022)

  In the retail sector, Competitive Intelligence techniques can be used to understand the market, your competitors and their strategies. Similarly, these techniques offer you a chance to identify your competitors’ strengths and weaknesses. You may also get an idea of how much business each of them does in comparison with one another.

  You should know about:

  • Where does your target market buy products?

  • What are the prices charged for similar products?

  • Which brands are most popular?

  • Who is buying those brands?

  Competitive Data provides a fundamental perspective for the creation, delivery, and capture of value. Competitive Data is an essential component of the pricing strategy as it helps in understanding the competitive landscape of your business. This can be used to identify potential threats and opportunities, determine appropriate actions and make informed decisions that are aligned with your strategic objectives.

  When retailers are competing with other businesses, they must consider the market and its pricing strategies. If a retailer is a price leader, they can use their position to set the standard for pricing in their industry. For example, Amazon sets prices for books at $11.99 or $12.99 and then sells them at a loss in order to sell more copies and grow market share.

   

  A price follower will take into account what the price leader is doing and adjust their own pricing accordingly. This might include matching or undercutting the leader to grow market share.

   

  One challenge posed by competitive pricing is that it’s difficult to determine whether sales are a result of the profit maximizing price of $30 or the fact that $30 might be the cheapest in the market. The secret is to combine these two pieces of data and compare the absolute price with the price relative to the market. Every retailer, whether a price leader or price follower, needs to adapt. Fresh market data means that a response with repricing is needed. The key to mastering a reactive pricing strategy is to predict how competitors will react and act accordingly. Good retailers reverse engineer the market pricing model and adjust continuously, anticipating their competitors’ every move

   

  In reactive pricing, a retailer adjusts the price of their products based on market conditions. This strategy is used by retailers to be competitive and capture sales while maintaining a profit margin.

   

  However, reactive pricing strategies do have their limits. Some wholesalers provide retailers in the US with a Manufacturer’s Suggested Retail Price (MSRP) which is the recommended price that they suggest their products are sold at to retail customers. In Europe, the same recommendation is known as Recommended Retail Price (RRP). While not legally binding, it does present bounds for reactive pricing strategies that may suggest pricing that varies above the MSRP level. 

   

  Separately, some wholesalers also choose to implement a Minimum Advertised Price (MAP) policy. MAP agreements between wholesalers and retailers state the minimum price that a product can be sold for to retail customers. MAP policies are used to prevent price wars, but they are restrictive and impact retailers’ ability to implement unbound reactive pricing strategies. 

   

  Additionally, pricing regulation varies globally. This presents challenges for omnichannel retailers that operate internationally because they may be required to follow MAP policies in one region (e.g

   

  The retail industry is a prime example of how markets can be disrupted by companies that focus on price. Amazon initially came into the market as a pure online player, and focused on pricing. This caused many retailers to adapt and implement reactive pricing strategies, such as $1 more or less than Amazon, or even increasing their price when Amazon goes out of stock on a product they carry.

   

  Quicklizard provides an advanced pricing infrastructure that makes your business truly thrive.

  Seamlessly combining  two common approaches for dynamic pricing - rule-based automation  and price-optimization. In the former, rules are predefined—based on past knowledge and experience—and are applied under human supervision. Price-optimization offers reinforcement-based methods (such as trial and error) to automatically adjust performance variables as more data is fed into it over time.

  About Quicklizard (TASE: QLRD)

  Established in 2010 as a competitive date company, pivoted in 2017 to become a SaaS platform for Price optimization. Today, Quicklizard is the leading pricing optimization platform for retailers and brands. Offering retailers the ability to fully manage their pricing strategies on a single platform that provides the tools, insights and analytics required to achieve pricing excellence.

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