Product Update

What’s new from Luca: December 2023

Yonah Mann
Dec 17, 2023

This month we celebrated our one-year company anniversary, and we want to take this moment to thank all of our early customers who took a bet on us and provided us with invaluable feedback that has improved our platform by leaps and bounds.

Today, we are highlighting 3 powerful new features for pricing decision-makers and sharing a story from one of our early customers - Duffl.

Pricing Strategies

You can now configure and prioritize pricing objectives and rules within the Luca dashboard:

  • Objectives, such as maximizing profit, revenue, or units sold, tell Luca's pricing engine what goal to optimize for, and what tradeoffs are acceptable to make.
  • Rules, such as price thresholds, margin constraints, competitor constraints and rounding schemes, ensure that price changes respect business rules.

Luca's pricing engine optimizes your prices within these Objectives and Rules, so that your prices always align with your business goals.

Forecasts and Results

Luca's models now produce forecasts for every price change you make. No more blind decisions on price changes - our forecasts even account for external factors like seasonality and discount campaigns so you can reliably trust them when making business-critical decisions.

After sufficient days have passed, Luca auto-generates results and refreshes them weekly so you can monitor how your price changes are performing.

Product Tags

Luca auto-identifies your "Up and Comers", "Top Sellers" and "Key Value Products" in your product catalog.

Users can use these auto-identified tags to create pricing strategies so that you can have additional configurability.

We also support API-ingestion and manual creation of tags if users want a certain type of pricing objective or rule applied to a certain cohort (for example, a running list of low-stock SKUs whose price cannot be increased).

Customer Story: Customer Highlight - Duffl

Duffl is an on-demand grocery startup that delivers snacks to college students in 10 minutes.

Cezar Rachieru, who leads Duffl’s Operations team, had a unique challenge on his hands. He operates 7 campuses, selling 1000s of SKUs for a very price-sensitive customer base in a deeply competitive market. How is it possible to manually manage so many SKUs, across so many geographies with a small team?

Read our case study about how Duffl deployed Luca to transform its pricing function.

Author

Yonah Mann
Yonah is the co-founder and CTO of Luca. Before solving pricing problems for retailers, Yonah was leading pricing teams at Uber Eats and building Enterprise SaaS for automotive manufacturers.

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