Retail Pricing Firms Merge
In today’s operating environment, smart pricing choices can make a difference in margins and a retailer's competitive edge. To help grocers optimize their pricing and promotions, two organizations are pooling their resources and creating comprehensive data-based solutions.
This week, Clear Demand and Bungee Tech announced that they are merging to create an AI-powered pricing optimization and competitive intelligence platform. Operating under the Clear Demand name and based in Scottsdale, Ariz., the organization combines Clear Demand’s AI-driven price and promotion optimization solutions with Bungee Tech’s advanced competitive pricing intelligence that can process billions of data points using machine learning.
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Alex Moorhead, executive chairman of Clear Demand, is CEO of the merged business. Rajat Nigam, co-founder of Bungee Tech, serves as chief product officer and James A. Sills, Clear Demand’s co-founder, continues as president.
“Gathering and shaping data into impactful outcomes is vital for retailers,” said Moorhead. “By uniting Bungee Tech’s competitive intelligence and data matching engine with Clear Demand’s price optimization capabilities, we’re giving retailers what they’ve been asking for – a strategic pricing platform that turns market data into profitable decisions.”
Added Nigam: “This merger represents a breakthrough for pricing technology. We’re combining Bungee Tech’s deep expertise in competitive intelligence – built on experience with innovative retailers like Amazon – with Clear Demand’s advanced optimization capabilities. The result is a comprehensive solution that helps retailers compete more effectively in today’s dynamic market.”
