🛒 HyperFinity's AI-Powered Pricing
HyperFinity, a decision intelligence platform, launched a new AI-powered pricing product for retailers. This tool is designed to replace outdated manual spreadsheets with a modern solution. Thomas Hill, Chief Customer Officer at HyperFinity, stated, "Manual pricing spreadsheets are cumbersome and outdated. Our AI-powered solution provides retailers with the insights they need to make informed pricing decisions and maximise profitability." This innovation led to a 5% increase in profit margins, demonstrating its effectiveness in the retail landscape.
📈 Features and Benefits
HyperFinity's tool offers several key features: understanding price sensitivity of products, creating AI-driven price actions, modeling price impact, and measuring sales performance. These features are designed to simplify the pricing process for retailers, allowing them to make data-driven decisions. The tool also eliminates single points of failure, eases pressure on busy analytics teams, and presents data in an easy-to-consume format. By replacing multiple spreadsheets, it offers a more efficient and reliable solution.
🤝 Success Stories
HyperFinity collaborates with several well-known retailers, including cardfactory. Liz Lamb, Director of Insight and Customer Experience at cardfactory, praised the tool, saying, "HyperFinity have been instrumental in helping us understand the role of pricing for cardfactory. Their use of data and AI has enabled us to make insight-driven pricing decisions that consider our business goals and the expectations of our customers." This highlights the practical benefits of the tool in real-world applications.
🏆 RTIH Innovation Awards
Costa Coffee's collaboration with HyperFinity earned them the Technology Implementation of the Year award at the 2023 RTIH Innovation Awards. The project involved using decision intelligence to personalise the Costa Club loyalty scheme and make intelligent operational decisions. This led to significant year-on-year growth in Costa's loyalty base, transactions, and revenue. The success of this project underscores the potential of HyperFinity's AI-powered pricing tool to drive growth and improve decision-making in the retail sector.
How will AI impact retail pricing strategies?
