meinemarkenmode.de Automates Pricing Decisions and Achieves a 13% Revenue Increase With Predictive Pricing

Learn How 7Learnings Helped meinemarkenmode .de Reduce the Complexity of Pricing and Automate the Process

Company Overview

Based in Münster, Germany, meinemarkenmode.de is a multichannel retailer that exclusively sells brands from the Danish DK Group – including Blend, Casual Friday, ICHI and b.Young. Their 40-strong team serves a retail audience which is primarily based in Europe. They sell their brands on Europe’s largest fashion marketplaces, including Zalando, About You, Otto and Amazon.

Learn How 7Learnings Helped meinemarkenmode .de Reduce the Complexity of Pricing and Automate the Process

Challenges

  1. As a multi-brand and multichannel retailer, meinemarkenmode.de has the unique challenge of having to manage their sales across multiple marketplaces, with costs and customer behavior varying from platform to platform.
  2. As the exclusive retailer of their branded products, meinemarkenmode.de also lacks competitor prices which would conventionally help to determine optimal price points.
  3. Their business structure means that it takes a high level of manual work to effectively manage and set prices across the different platforms they retail on.

Solution

  • Tailored price optimizations for meinemarkenmode.de’s private label brands effectively managed across various channels.
  • Pricing activities are now managed with a high degree of automation, contributing to significantly reduced manual work needed to steer prices.
  • An overall positive increase in revenue, profit and sales thanks to automated price management.
  • Highly automated pricing process Business impact of pricing solution reflected within a matter of weeks, not months.

7Learnings helped achieve:

10% uplift

in profit

13% uplift

in revenue

Conclusion

E-commerce is an increasingly complex industry, and pricing is a critical factor in determining customer willingness to buy. Meinemarkenmode.de faced the added challenge of retailing across a variety of e-commerce platforms, with diverse audiences and demand factors. 7Learnings‘ solution has helped to alleviate these challenges by providing a way to easily and effectively manage prices across a variety of channels. Where before this activity was highly complex and took a lot of manpower to manage, the automation provided by 7Learnings’ machine learning-driven technology has made this process smoother and more efficient.

Meinemarkenmode.de has seen measurable results thanks to 7Learnings’ predictive pricing solution. With our intuitive software, companies like meine-markenmode.de are able to benefit from the operational efficiencies the machine learning based technology provides.

The solution developed by 7Learnings made price steering radically easy for our team, while increasing our profits and revenues significantly.
Timo Bethlehem
Managing Director @ meinemarkenmode.de

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