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We utilize deep learning algorithms and machine vision to dynamically price and promote products, with a focus on fresh produce to reduce food waste.
About
The RapidPricer platform processes large amounts of data generated through the point of sale systems and various IoT devices to make automated merchandising decisions. The computed prices are displayed dynamically on the Electronic Shelf Labels.
Key Benefits
• Reduce Fresh Produce wastage at retailers by: • Dynamically pricing products to control demand • Sending alerts to local food donation agencies before the food goes bad • Sending alerts to the store managers to direct attention to deteriorating food · Ability to react to multiple competitor prices in real-time to find the optimal competitive price - which competitor matters the most, in which markets, in what products and by how much. · Ability to run automated promotions and markdowns automatically. Avoid ending up with excess inventory which will need to be marked down at a loss. · Improve the price image perception by customers through a targeted selection of competitive items and determination of the optimal strategy.
Applications
Retail Stock Management, Inventory Optimization, Food Waste Reduction, Customer Image Perception, Competitive Postitioning.