Case Study: a Fortune 500 department store boosts online revenue by 40% with Competera AI price optimization

a Fortune 500 department store boosts online revenue by 40.1% with Competera

A major US-based Fortune 500 department store chain faced challenges from its legacy pricing model, which was causing market share losses and operational inefficiencies. The retailer needed to transition to a new pricing strategy to better compete with dynamic online retailers. To address this, they partnered with Competera and implemented its AI-powered pricing platform.

Competera's solution provided AI-driven price optimization with automated recommendations, enabling a systematic transition to a new pricing strategy. This approach delivered exceptional results for the retailer, including a 40.1% increase in online revenue and a 59% increase in units sold. Competera also helped achieve a 30% increase in new customer acquisition and a 71% increase in visits that resulted in a purchase.