The Prices Adjustment Project aims to maximize profits by dynamically adapting prices based on demand and promotional periods. This strategy not only improves the customer experience by offering competitive and fair prices but also reduces losses associated with unsold and perishable goods. The project leverages real-time data to stay competitive, similar to approaches used by major retailers like Walmart and Amazon.
The main challenge is adjusting product prices in response to fluctuating market demands, expiry dates of perishable items, and the timing of promotional campaigns, ensuring profitability and efficiency.
To develop an automated system that can adjust prices in real-time, maximizing retail margins while maintaining competitiveness in the fast-paced market.
The project addresses the complexities of handling large datasets, predicting market trends, and integrating seamless price adjustments without disrupting the customer shopping experience.
Successfully implemented, the system has demonstrated the ability to enhance operational efficiencies and profitability, leading to a significant increase in sales and customer satisfaction.