A dynamic pricing system to update product pricing based on projected demand (and supply)

Lula Convenience is an innovative all-in-one delivery platform for convenience stores utilized by hundreds of companies to deliver store items through leading marketplaces like Uber Eats, DoorDash, and Postmates. Currently, it faces a critical challenge with its current pricing model. This fixed pricing method, although widely adopted, lacks the flexibility and adaptability required to maximize efficiency and profitability. The existing model does not account for crucial factors such as limited stock, fluctuating demand, peak periods, and seasonal fluctuations, resulting in suboptimal sales performance and missed revenue opportunities. Furthermore, the current platform's rigidity inhibits the effective implementation and evaluation of consistent pricing strategies. A dynamic pricing system is urgently needed to overcome these challenges to empower Lula's customers and employees. This system enables users to personalize pricing strategies for diverse products and stores. Users have the freedom to define specific date and time ranges, specify affected products, set price adjustment rules, choose participating stores, and select delivery channels. Additionally, the system is equipped to record and analyze sales data, providing valuable insights and supporting performance comparisons.

The dynamic pricing system application is an interactive and integrated software solution designed to adapt prices in real-time based on changing market conditions, ensuring optimal pricing strategies for maximizing revenue and competitiveness. This application runs within a web browser, using a keyboard and pointing device for input. The user can choose to set their own manual rule for any given category of items. The user can also receive suggested price changes based on sales history quantity data.

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