December 28, 2016
As the Christmas season looms, bringing with it the end of 2016, it’s time to take stock of a rather complex year and reflect on the trends we see rising out of the rubble.
Having access to data from various countries, Evo Pricing noticed some interesting trends that show commonality on an international level:
Response to political upheavals
As 2016 was a year of political upheavals—especially in England, the United States, and Mexico—the first trend noticed was an apparent lack of reaction towards these occurrences this year.
That is likely to change after Christmas.
Evo Pricing’s Founder and CEO Fabrizio Fantini stated in a recent interview that we’ve already seen signs of change in England, where “Microsoft will announce a 22% increase in prices of its UK cloud offering after Christmas, which is an increase of almost unprecedented measure for an advanced economy.”
Synergy between offline and online sales
The second trend is the convergence between online and offline marketplaces. Sales growth approaching Christmas is primarily in online sales, but Evo Pricing sees a very strong correlation between the traffic in stores and online sales.
This means that regardless of purely online presences such as Amazon, there is more of a positive synergy between having a physical, brick-and-mortar presence and an online channel for sales.
Aggressive “high-low” strategies
The final trend noticed internationally is a market aggressiveness as companies raise prices and increase their promotional intensity. Consider the rise of Black Friday and Cyber Monday, which kick off the shopping season at Thanksgiving.
These sales are now anticipated and are stretching out longer than ever before. They’ll continue until Christmas and beyond, which is something Evo Pricing believes can create value for both the consumer and for retailers.
Using big data and human intuition to identify trends
Evo Pricing offers an innovative platform for managers and executives to leverage their big data and use human intuition to complement predictive analysis.
The data scientists at Evo Pricing created complex algorithms that analyze big data from in-house sources like sales and consumer data and stock levels. The algorithms combine that data with outside market sources including geographical location, climate information, and any other outside variable that can affect your supply and demand equation.
The real magic happens when you include the human intuition of shop owners, managers, clerks, and front line staff into the mix. This collective intelligence is something that no algorithm in the field can do alone.
It is the basis for a highly successful pricing platform that can help retailers predict what goods should be pushed down to a single store level and how to manage warehouses and distribution.
Evo Pricing’s formula for success
Success = data + human intuition & a heavy dose of common sense
By customizing each solution to a company’s specific needs, structure, and data, Evo Pricing is able to achieve extraordinary results for clients with bespoke, accurate, and powerful solutions.
In the words of a CEO of an EVO Pricing client, they create software “actually built for the rest of us.” Simple to use, yet cutting-edge. Tried and tested with outstanding results.
Contact Evo Pricing today for a free consultation to learn more about this innovative solution guaranteed to unlock the full potential of your data.
About the author
Martin Luxton is a writer and content strategist who specializes in explaining how technology affects business and everyday life.
Big Data and Predictive Analytics are here to stay and we have only just begun tapping into their enormous potential.