Price Elasticity Modeling
Price elasticity is a measure of a product's change in quantity purchased relative to its change in price.
Pricestack models your price elasticity, enabling you to accurately make strategic, data-driven pricing decisions that help you achieve your goals. We help you use price to alter brand perception, increase profit, maximize revenue, and even keep products in stock. With Pricestack, you will easily and precisely understand how every AI-suggested price change impacts how many units you sell and how much revenue and profit you generate.
Price Elasticity in the Pricestack User Interface
Pricestack's AI models price elasticity for each of your products and displays an intuitive summary in our user interface.
In this example, we can see that the product's revenue-maximizing price is $14.99, and its profit-maximizing price is $19.99. These metrics are based on Pricestack's analysis of the product's price elasticity; available inventory; and costs of goods sold and shipping.