Much of ITA's pricing strategies were calculated in Excel documents that were shared internally, and not centralized in one platform, opening up a margin for error. I was able to work closely with the merchandising and fulfillment team to create a pricing engine according to their exact needs to quickly create, share, and modify pricing strategies to be applied to their ecommerce point redemption platforms.
Pricing strategies needed to account for a multitude of factors beyond MSRP, so we designed the pricing engine to accommodate static prices, flexible rates, and custom values to empower the merchandising team to keep 1000's of SKUs at a profitable margin.
Merchandisers could quickly change the values of pricing strategies and apply it their product catalog to calculate the associated costs to source the product, ship the product, and their profit margin.
Strategies that had outlier products that did not fit within the profitability guardrails were marked always as such, and merchandisers were givens tools to override the prices of individual products, or create exceptions to allow a product to be sold at a loss.
Merchandisers could use a combination of pre-set hard coded values and customizable pricing elements to generate profitable pricing formulas that were applied to their strategies. These formulas could account for tax rates, variable shipping costs, and other values to ensure a profitable pricing strategy.
Once a pricing strategy was set up, it could be ran against the product catalog of the ecommerce platform, and start to generate prices and a point value for each product. Clients who used the platform could invest into more favorable pricing strategies, to make earned points more valuable, resulting in faster redemption rates.
We created a fully functional wireframe prototype to give the merchandising team a chance to test drive our solutions and identify issues before we entered development.
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