The decrease of attendance and the logistic difficulties linked to the recent sanitary crisis have heavily impacted the levels of sales, creating unprecedented amounts of inventory in warehouses and distribution centers. Since the reopening of shops, specialized brands are competing in ingenuity to liquidate their stocks and prepare themselves to catch up with the upcoming summer sales, which were pushed back of 2 weeks.
Markdown mechanisms come out as the most interesting drivers for brands to attract new clients through promotions. Nonetheless, to make full use of this opportunity by optimizing the margins and the unsold products, brands need to adopt the right strategy and pricing at the right time by basing themselves on extremely accurate data analysis to have successful sales during this competitive period.
As editor of an Artificial Intelligence platform, Verteego will demonstrate how algorithms of prediction can help optimize your pricing during your successive markdowns through several use cases.