Quicklizard (TASE: QLRD), an Israeli AI-based company in the dynamic pricing for retail stores sector, announced today that it has signed a strategic agreement with a distributor for its products in Australia and New Zealand. The agreement will allow the company to operate in Australia and New Zealand. The distributor is a publicly-traded company incorporated in Australia, which specializes in providing solutions for retail markets in Australia and New Zealand.
Quicklizard CEO Pini Mandel said, "Quicklizard is continuing to expand at a rapid rate and take advantage of the strengthening global demand for AI-based dynamic pricing - and today we are delighted to announce our continued global expansion and entry into the Australian and New Zealand markets, which are new countries with major potential for expansion, which we have marked out as strategic targets."
"Use of the system that we have developed, benefits small and medium sized businesses and allows them to make better informed business pricing decisions and by so doing increase the business's profit and revenue, both online and in physical stores."
"Quicklizard's unique multi-channel pricing system will allow potential customers of the distributor, to adjust and change prices both in physical stores and online. The changes that can be made do not end at customer level, as our system also allows developers, in the customer's office, to make constant changes in the system, independently and according to existing need."
The company operates in a range of sectors such as electronics, food, DIY, fashion, sport, books, department stores, nice retail and pharmaceuticals - a field that it sees as strategic for it.
Quicklizard provides a software retail platform for optimizing pricing based on AI. The company allows multi-channel retailers to implement optimization of the pricing system on all marketing and distribution channels. Quicklizard helps retailers to price their products in line with the aims of the businesses.
Quicklizard's software platform helps retailers to fulfill their commercial potential. The platform analyzes data from the customer's systems such as inventory costs and product supply, demand flexibility for the product at the point of sale, seasonal consumer behavior, competitor's prices etc. - to form recommendations for retail product price changes. All the pricing recommendations are backed up by a reason for the recommendation and at the press of a button implemented on each of the appropriate channels - online sales, sales in physical stores, or a combination of the two, while providing full flexibility to improve each of the channels in applications, covering different countries and different departments.
The company operates today in 20 countries worldwide, in a range of retail areas such as consumer products, electronics, household and office goods, fashion, pharmaceuticals, sports equipment, department stores, and more. The system's flexibility makes it easy to adapt it for all areas of retail, while making it easy to apply and use the system - and these are factors leading to Quicklizard's success among retailers set to adopt the digital revolution.
Published by Globes, Israel business news - en.globes.co.il - on May 10, 2021
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