Point 93 leverages a novel form of dynamic pricing to enable a dialogue between retailers and their individual customers.
This “conversation” is at the core of everything we do.
We Solve Four Big Problems
1. Discounting hurts a retailer’s brand and bottom line. Although our strategy is omni-channel, we are most valuable to brick and mortar stores. We replace traditional discounting with dynamic pricing, driving higher revenues and profits. Our method requires no signage and is elegant and invisible, elevating the brand and maximizing revenue. Through individual conversations with consumers, we learn the prices at which items “clear the market.” This data serve as series of put options for retailers, against which they can build demand curves and forecast revenues.
2. Retailers are failing to collect massive amounts of data. Brick and mortar retailers often don’t know anything about the potential customer that just walked past their threshold. What is the maximum she would pay for each item she’s interested in? Is there anything else she would tell you if she could?
3. Customers have been trained wrong; they look for deep discounts and don’t offer feedback about the product, price, or their in-store experience. By employing gamification and rewarding positive customer behaviors with slight decreases in price, we re-train customers to exhibit behaviors that save everyone money: buy in bulk, shop during times of low foot traffic, share personal data, and serve as an affiliate marketer.
4. Retailers invest in corporate social responsibility (CSR) but are ineffective at sharing campaigns with customers and in analyzing their impact on sales and loyalty. We share CSR campaigns, offering awareness and transparency. Through A/B testing we measure the ROI of a particular campaign. We believe our analysis will show retailers that their customers do care about CSR and are willing to pay more for products made under more ethical conditions.
Our proprietary algorithm considers inventory, retailer's goal margin, transaction velocity, unique customer data, exogenous market factors, and a host of other factors to determine if a purchase will be consummated.