aifora GmbH

aifora, a leading provider of intelligent pricing software, was mentioned as a Representative Vendor in Gartner’s 2019 Market Guide for Unified Price, Promotion and Markdown Optimization (UPPMO) Applications(1).

According to Gartner, “Price optimization, while largely accepted as a requirement for doing business, has reached a point where AI and advanced analytics are required to price strategically and in a unified manner.” Gartner further goes on to say that, “There is no more time for delay, retailers must automate pricing to be responsive to business needs, market dynamics and customers.”

“We believe our inclusion as a Representative Vendor in the Gartner Market Guide for UPPMO Applications confirms why leading European retailers trust aifora to optimize and automate their pricing processes,” states Thomas Jesewski, Co-Founder & CEO of aifora. “Our aim is to enable retailers of all sizes to data-drive their business and we are certain that AI and advanced analytics are essential for retailers to remain competitive.”

(1) Gartner, Inc. “Market Guide for Unified Price, Promotion and Markdown Optimization Applications ” by Kelsie Marian, Robert Hetu, July 11, 2019.

The textile retail chain NKD is forging a new path in pricing. By evaluating large amounts of data and using self-learning algorithms, the company will further optimize its pricing and become even more competitive.

With aifora’s Intelligent Price Automation (IPA) software, NKD has found the perfect solution. Through the use of artificial intelligence (AI), IPA determines the optimum price for each product in each sales channel. A self-learning algorithm continuously evaluates all available data – internal as well as external. “aifora’s machine learning algorithm learns with every observation and develops ever better predictions,” explains Thomas Jesewski, co-founder and CEO of aifora.

Before making its decision, NKD tested the aifora solution extensively. The result was clear: “With the new Intelligent Price Automation tool from aifora, we will further improve our profitability. Our tests have shown that this not only optimises our internal work processes, but also significantly reduces our surpluses at the end of the season – while at the same time improving sales and margins,” explains Abraham Tadesse, Director of Merchandise Planning & Controlling at NKD.