Belami Inc. Achieves 15% Revenue Growth and 5% Margin Increase with Wiser’s Price Optimization
Belami Inc. overcame intense competition and operational challenges with Wiser’s Price Optimization, achieving 15% revenue growth and a 5% margin increase by automating pricing, leveraging real-time insights, and driving smarter, data-driven decisions.
Belami Inc., a leading retailer specializing in home furnishings and lighting, struggled to maintain competitive pricing without destroying their margins. With over a million SKUs to monitor in their catalog, Belami needed a solution to optimize pricing in real-time and keep up with fluctuating market dynamics.
Wiser’s Price Optimization provided the technology and insights necessary to make smarter pricing decisions, resulting in significant improvements in margins, revenue, and operational efficiency.
Challenge
Belami Inc. operates in an intensely competitive and fast-changing market. They encountered several key challenges that hindered their growth and profitability:
Balancing Competitiveness and Margins: With competitors constantly adjusting their pricing strategies, Belami struggled to maintain competitive prices without eroding their profit margins. Their manual pricing methods often left them unable to respond quickly to market fluctuations, especially during off-hours or weekends, leading to missed opportunities.
Managing a Large and Complex Product Catalog: Belami’s catalog included over 1 million SKUs across various brands and categories, creating significant challenges in ensuring accurate and timely price adjustments. The sheer scale of their offerings made it difficult to efficiently execute consistent and strategic pricing across all products.
Limited Visibility into Competitor Data: A lack of real-time insights into competitor pricing and market trends left Belami operating in a reactive mode, often guessing at the best pricing strategies rather than using data-driven decision-making.
Rigid Manual Repricing Process: Prior to implementing Wiser’s Price Optimization, Belami relied on a fixed-rate repricing system. This approach was too static to adapt to the nuances of demand, competition, and seasonality, leading to margin loss and pricing gaps in others.
As their business grew, Belami recognized the need for a robust, automated pricing solution that could dynamically reprice products based on market inputs while aligning with their business goals. This required a flexible platform capable of handling their diverse product portfolio and providing actionable insights to drive growth.
Solution
Wiser’s Price Optimization addressed each of Belami’s challenges with actionable insights and advanced automation, transforming their pricing strategy. Key features included:
Dynamic Repricing for Scale and Flexibility: To tackle the complexity of managing ~1 million SKUs daily, Wiser’s repricing engine integrated seamlessly with Belami’s marketplaces. This allowed for automatic repricing of hundreds to millions of SKUs based on tailored rules, segmenting products by category, catalog, or individual SKU. The once time-consuming manual process became obsolete, freeing up Belami’s team to focus on strategy rather than execution.
Competitor Benchmarking and Live Strategy Simulations: Wiser provided real-time visibility into competitor pricing, empowering Belami to stay competitive. Using the Live Preview and Strategy Simulation features, they could forecast the potential impact of pricing adjustments before implementation, ensuring informed decisions that balanced competitiveness with profitability.
Margin Optimization Models with Prioritization: Belami struggled to maximize margins without sacrificing growth. Wiser’s built-in prioritization tools enabled the team to run multiple pricing strategies simultaneously, ensuring that all SKUs were covered with optimal pricing tailored to specific business goals. These strategies helped Belami protect and grow margins while maintaining customer satisfaction.
Custom Reporting and Data-Driven Insights: Limited visibility into competitor and market data had previously hindered Belami’s ability to act proactively. With Wiser, the team gained access to precise, timely, and tailored data. The platform’s Custom Reporting features allowed Belami to track the impact of pricing decisions on revenue, margin, and competitiveness, providing a clear view of performance and actionable next steps.
Strategy Builder for Targeted Growth: To ensure sustainable growth and alignment with their long-term goals, Belami leveraged Wiser’s Strategy Builder to craft complex pricing strategies. Whether segmenting by product type or adjusting for seasonal demand, this feature gave them the flexibility to adapt quickly while staying on brand.
Wiser’s comprehensive solution didn’t just solve Belami’s pricing challenges—it gave them a competitive advantage. By automating processes, providing actionable insights, and enabling flexible strategy development, Wiser empowered Belami to excel in their highly competitive market.
“We have a lot of different pricing rules within our industry that we have to adhere to which require us to be very flexible with the pricing rules we build. Wiser allows us that flexibility.”
Levi Lunde
3rd Party Marketplaces General Manager
Results
Partnering with Wiser’s Price Optimization delivered transformative outcomes for Belami Inc., addressing their key challenges and driving measurable success:
5% Increase in Margins: By replacing manual repricing with Wiser’s automated solution, Belami optimized their pricing strategies across core categories. This allowed them to win the buy box more frequently while maintaining profitability and competitive positioning.
~1 Million SKUs Repriced Daily with Seamless Automation: Wiser’s dynamic repricing engine enabled Belami to reprice hundreds to millions of SKUs with tailored rules for different products. This eliminated the inefficiencies and risks of manual processes, ensuring no competitive pricing opportunities were missed.
15% Annual Revenue Growth: Leveraging real-time market insights and strategic pricing models, Belami enhanced their market positioning and captured more revenue opportunities, driving significant year-over-year growth.
With Wiser, Belami not only automated and scaled their pricing operations but also reduced the risk of margin loss and stayed competitive in a rapidly changing market. By integrating tailored pricing rules and automated adjustments, Belami transformed their pricing approach, paving the way for sustained growth and long-term success.
Conclusion
Belami Inc.’s journey with Wiser’s Price Optimization highlights the transformative impact of a data-driven, automated pricing strategy. Faced with intense market competition, a sprawling product catalog, and rigid manual processes, Belami successfully overcame these challenges to achieve remarkable results: improved margins, enhanced revenue, and operational efficiency.
Through Wiser’s innovative tools, Belami gained the flexibility to adapt to market changes in real-time, the visibility to make informed pricing decisions, and the automation to manage over a million SKUs seamlessly. These capabilities not only addressed their immediate pain points but also empowered them to maintain a competitive edge, capture growth opportunities, and secure their position as a leader in the home furnishings and lighting market. With Wiser as their pricing partner, Belami has demonstrated that smarter pricing isn’t just a solution—it’s a strategy for sustained success.