Belami Inc. Improves Their Pricing Strategy With Wiser’s Price Optimization
Belami e-Commerce is a fast-growing online retailer and eCommerce services provider based in Sacramento, CA.
They operate a collection of online retail websites and provide eCommerce services within the home improvement industry. Their collection of stores includes 1STOPLighting, Home Click, and many more.
Challenges
Belami Inc. was looking to automate their repricing processes in a way that was flexible and fit their needs. They needed to be able to stay competitive, even in the off-hours.
Before Wiser’s Price Optimization, Belami was repricing manually at a fixed rate, but this rigid process was not the best option for every situation, often leading to a loss in margin.
They needed a tool that was able to automatically and dynamically reprice their products based on a variety of inputs from their online marketplaces.
Solutions
By leveraging Wiser’s Price Optimization product, Belami Inc. gains a comprehensive understanding of its own pricing strategy and competitor prices across multiple channels in almost real time. With this, they are able to achieve operational efficiencies at every level.
Belami is now able to automatically reprice hundreds to millions of SKUs using different rules for different products, reducing their risk of missing competitive pricing opportunities and losing margins.
PRODUCTS USED:
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
Since switching to Wiser’s Price Optimization, Belami has been able to reduce the need for almost all manual repricing. This has allowed them to improve margins and win the buy box more often.
As a result, Belami has seen their product margins increase by over 5 percent, and an annual growth of greater than 15 percent.
With Wiser, manual price checking and repricing become obsolete. The Belami team now has access to timely, tailored, and precise data, providing them with a competitive advantage. Price Optimization offers a range of key features that enhance efficiency and effectiveness, such as:
- Strategy Builder: Whether they want to segment by category, catalog, or SKU, Wiser’s Price Optimization can help Belami build complex pricing strategies that fit their business.
- Dynamic Repricing: Wiser’s repricing engine integrates with marketplaces so Belami can automatically reprice hundreds to millions of SKUs, following different rules for different products and segment products based on the strategy that fits best.
- Prioritization: Belami can use the built-in prioritization to enable multiple active pricing strategies and ensure all SKUs get covered.
- Live Preview & Strategy Simulation: With live preview and simulation features, Belami is able to see the potential impact of a pricing strategy on their SKUs.
Because Belami Inc. operates such a large collection of different online retailers, getting their prices right is of the utmost importance. With Wiser’s Price Optimization, they can ensure that their prices are able to adapt to any situation, staying competitive across the eCommerce market.
Gain a Partner in Wiser
Wiser Solutions is in it for the long haul. We will be a dedicated partner to your marketing efforts as we work with you to establish baselines, run tests, optimize workflows, and turn our real-time data into confident marketing decisions for your business.
Knock that next merchandising campaign out of the park. Win market share from your competition with price optimization. Understand shopper insights to create better messaging. No matter your goals, Wiser is here to help.
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