Profimetrics is offering retailers a single artificial intelligence platform for managing pricing, promotions, markdowns and stock. The retail optimisation business is part of itim Group plc and has developed its AI Powered Suite to support faster, more consistent commercial decisions.
The platform brings several retail functions into one system. Retailers can set pricing strategies, test different scenarios, manage promotional activity and improve stock allocation without relying on separate tools for each process.
Pricing optimisation is a core part of the suite. Retailers can manage prices across different sales channels, apply strategies linked to specific business goals and compare possible outcomes before making changes. The system can assess the expected effect of a decision on sales, margins and price positioning. It also monitors pricing scenarios after implementation. When a scenario does not perform as expected, the platform can recommend further adjustments.
Profimetrics states that its pricing optimisation tools can improve revenue and gross margin by between 2% and 6%.
The suite also covers promotions and markdowns. Retailers can plan promotional calendars, define policies, forecast outcomes and manage approval processes. They can also compare different clearance and markdown strategies before applying them.
Stock optimisation is another major part of the platform. The system provides recommendations for allocation, replenishment and distribution. It can assess each product and location separately, helping retailers decide where stock should be placed and when it should be replenished.
The platform also allows retailers to test stock scenarios before taking action. This can help reduce excess inventory, improve availability and limit the costs associated with markdowns, waste and stock transfers. Profimetrics states that its stock optimisation tools can reduce stock levels by between 20% and 30% while supporting a 3% increase in sales.
The company has also developed Maya, a virtual strategy assistant built into the Profimetrics AI engine. Maya is designed to provide recommendations and help users identify commercial opportunities or respond to new challenges.
itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors. Itim adds retail value by helping multi-channel retailers optimise their business and their stores to improve financial performance and compete more effectively with the “Amazons”.
