|By Business Wire||
|May 5, 2014 06:16 PM EDT||
TechCrunch Disrupt 2014 — Boomerang Commerce, a leader in online price optimization, today announced the release of Dynamic Price Optimizer, a SaaS based big data price optimization solution for online retailers. Dynamic Price Optimizer enables retailers to price competitively, millions of products in real-time, while balancing profitability. Boomerang has driven about 5% revenue lift for many of its customers and has brought to life under-performing categories. Boomerang’s customers include multi-billion dollar retailers such as Sears, Groupon Goods, DHGate, Radioshack.
“With showrooming and online price comparison, the industry is irreversibly moving towards 100% price transparency. Online retailers are faced with the opposite goals of pricing aggressively to beat competition while pricing smartly to increase profits. Balancing competitiveness and profitability is the key to success,” said Guru Hariharan, CEO of Boomerang Commerce.
“Our analytics platform consists of two key components. Competitor Intelligence - given the retailers’ catalog, we track almost real-time, competing products on competitor websites and their corresponding prices. Second, is internal Profitability Intelligence – for every online transaction, we track unit level profitability by baking in numerous variable costs such as COGS, shipping, transportation, logistics. Dynamic Price Optimizer leverages both competitor and profitability intelligence to make pricing decisions at a SKU level, while optimizing overall business goals,” said Vamsi Vutukuru, Vice President, Products.
E-commerce Pricing Analysts and Category Managers, use Dynamic Price Optimizer to create, plan, execute and measure the impact of various pricing strategies. They set high level business goals such as revenue or profit objectives at a category/ sub-category level. The system then runs numerous pricing strategies in parallel (A/B tests), and makes dynamic pricing decisions across hundreds of thousands of SKUs so as to maximize the pre-defined business goals.
“We did a closed launch of the product with early adopters and thought leaders, who are significantly benefiting from dynamic pricing. We are excited to take the product to the broader market. We are getting tremendous interest,” announced Hariharan at TechCrunch Disrupt 2014.
About Boomerang Commerce
Boomerang Commerce, a leader in online price optimization, powers competitive pricing and assortment decisions for next-generation retailers. Our customers include the fastest growing IR50 e-commerce and multi-channel retailers. Through dynamic pricing and assortment planning and expansion, we have driven millions in revenues and margins. For more information please visit www.boomerangcommerce.com
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