Centric Software

Name of the product or service

Competitive Assortment Benchmark and Product Price Optimization

Votes: 553

Product or service description

Are your competitors raising prices? Only to discount later?

What products are consumers willing to pay a premium for?

We have a solution that answers these questions and more. Benchmark competitor product assortments & pricing to drive your product decisions and maximize revenues, with Centric Pricing, a new AI-driven solution, powered by StyleSage for market trend and pricing insights for fashion, beauty and home goods brands and retailers.

Then quickly take those product decisions to market with Centric Retail Planning and PLM for lowest COGS, optimized inventory placement and maximized margins.

What is the problem we are solving?

Retail & e-com team are stuck with too many SPREADSHEETS & EMAIL. No info, wrong info, hard to find info that is quickly out of date from various places like the internet, ERP and more. Competitive research is done by hand. Time is wasted with tons of non-value added work resulting in mistakes and no time to think about positioning, customers or working with suppliers (or private label teams) to create an optimal offer.

Centric Software replaces hundreds or thousands of spreadsheets, emails, fragmented systems and internet research by hand with one platform that is the single version of the truth.

Distinction from the competition

Reduced time to market: 40-60% Improved operating margins: 100% Improved sales: 5-10% Reduced COGS: 5-15% Reduced inventories: 10-30% Improved productivity: 10-50% Improved sustainability & compliance

These are some of the benefits experienced by the brands, retailers and manufacturers using our solutions. The teams that use our solutions include planning, buyers, merchandising and designers as well as product development, sourcing, marketing and sales.

Why is Centric Software unique? Our mission is simple: best customers, best solution, best team.

  • Award winning, patented solutions driven by 700+ companies bringing $1,3t of goods to market to over 1.4m points of sale/ecom sites.
  • All solutions are customer-driven and are easy to use, highly visual, open-ended and highly configurable. We have a 100% go-live rate and the fastest time to value.
  • Centric teams are truly customer-focused, highly experienced and share industry-best practices and key learnings. Our customer satisfaction rate is 97% for the past 5 years.

How are we different from our competitors? Many ways. Simply put: 35% of our customers replaced a failed solution with ours.

Product or service innovations

In the past year, we introduced a new product concept to store platform. It is modular and can be started small or large with options for emerging brands (e-com & wholesale) up to omnichannel/e-com giants like LVMH, ASICS, The Gap, ASOS, Zalando and more.

  • Pricing: Pre-season, understand what competitors are selling & how (initial price + discounting/promotions) and what consumers are searching for (Google trend data) and actually buying. In-season: adjust your offer accordingly. This module was added in 2022.
  • Retail Planning: Pre-season, architect your merchandise financial plan (by region, channel, delivery), allocate product/placeholders. In-season: adjust allocation/develop greige goods per consumer demand. This module was added in 2020.
  • PLM (Product Lifecycle Management): Pre-season, conceptualize, develop and source products per the MAP with cost what-iffing, RFI/RFP to suppliers, sustainability/compliance tracking and more. In-season: quickly adjust development plans for semi-finished or greige goods for private label/just in time approach. This is our foundation technology, launched in 2008.

Centric Software now offers solutions for 4 main consumer goods verticals:

  • Apparel/footwear/accessories: fashion, luxury, outdoor/sports, home (examples: Fast Retailing, Underarmour, Saint Laurent, Birkenstock, C&A, Crocs, Kering, Louis Vuitton, Balenciaga, Givenchy, Mango…)
  • Food/Beverage & Beauty/Cosmetics: packaged and formulated goods like food, beverages, cosmetics, skin care and personal care products & retail (examples: Sephora, Ferrero, Aviko, Great Kitchens, E.L.F, Harry & David, Kiko Cosmetics…)
  • Consumer Electronics: all types of products (examples, JD.com)
  • Retail: e-com, brick & mortar and omnichannel (examples: ASOS, Yoox/NAP, Zalando, Tesco, Loblaws, Kroger, Intersport…)
Customer case study

We have dozens!
A few highlights: Guess. https://www.centricsoftware.com/success-stories/guess/

Rothy's. https://www.centricsoftware.com/success-stories/rothys-its-easy-being-green-with-centric-plm/ Adeo". https://www.centricsoftware.com/success-stories/adeo/

Positive feedback & testimonials

We have dozens and dozens of customer testimonials: https://www.centricsoftware.com/all-references/ Use filters to narrow down by region/vertical. A new Zalando case study is here: https://centricsoftware.wistia.com/medias/ylk3n4bnwx?utm_campaign=23Q1_Global_CAM_CentricPricing_Video_Zalando

Other recent quotes:

"The price increase reporting is probably the most important topic to our business right now. The ability to pull together insights quickly and flexibly is a huge time saver for our business and allows us to identify products our competitors are increasing in price during the season." – Head of Strategic Pricing (company confidential)

"The platform has been super useful as we grow our online assortment and develop our mix strategy. The support we have gotten from the team has been incredible. We really appreciate the custom training sessions and tailored reports and insights you have provided! Your expertise is invaluable to us." – VP Scaled Events and Full Price Assortment Strategy (Nordstrom)

"We have seen a huge increase in adoption this year as it is critical to the business to keep on top of competitors. The tool is very intuitive and easy to use." – Program Manager (company confidential)

"The tool has been invaluable for us. Our main goal for this year is to do less discounting, we've put the necessary steps and pricing data in place to inform marketing, buying, and merchandising. We're also using the tool to identify white space and opportunities." – Head of Buying, Head of Merch (company confidential)

Website

www.centricsoftware.com


Winners of E-commerce Germany Awards 2022

learn more & register for Expo

Do you want a free ticket to visit E-commerce Berlin Expo on 23. February 2023? 5 stages of presentations, over 200 exhibitors.

You will receive a digital ticket as a ready-to-print .pdf file a few days before the event. Your registration means acceptance of the Terms & Conditions.

E-commerce Germany Awards 2023

Networking Party & Awards Ceremony

  • 22nd February 2023

    Event date

Support

Do you have any questions? Feel free to ask!
Aleksandra Dalemba Event Manager
awards@ecommerceberlin.com
  • 22nd February 2023

    Event date

  • E-commerce Capitals Sp. z o.o. Sp.k.

    Organizer

  • POLAND, 60‐586 Poznań, ul. Botaniczna 26/2

    Address

  • VAT ID PL7792439665

    TIN