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"More profitable discounts, Powered by AI"
tl;dr: Promi helps ecommerce merchants send smarter discounts by leveraging AI to dynamically update discounts and optimize for clearing inventory, varying discount values across products for first order, holiday, etc. campaigns, and better communicating discounts across your website via price strikethroughs and other UI components.
Available on the Shopify app store!
Founded by Peter Moot & Jiaxin Lin
https://youtu.be/HsVv82xmyNw?si=nr-sLwtCLy18wddi
👬 Meet the Team
Peter: The Discount Guru
Peter came from Uber, where he was the product lead overseeing discounts across Eats and Rides. While there, he launched many of the features they are now building into Promi today. He has a degree in economics from Harvard and would love to talk with you about your pricing and discount strategy.
Jiaxin: The AI mastermind
Jiaxin was the tech lead and founding engineer at Uber’s knowledge graph platform, focusing on recommendations and personalization. Before Uber, Jiaxin worked in AI at Google’s Shopping Recommendations team.
❌ The Problem
Most retailers spend 5-10% of their gross merchandise value on discounts to acquire new customers, celebrate holidays, hit sales targets, clear inventory, etc. However, choosing the right discount often involves guesswork. More sophisticated merchants look at what worked well in the past, but they don’t have the time or means to granularly optimize their discounts across products and users, or dynamically update the offers based on order trends. Additionally, many retailers don’t communicate savings available via discount codes on their website until checkout, causing a drop in customer conversion.
💡 The Solution
Promi enhances discount performance by addressing key issues:
- Dynamic Updates: AI-driven adjustments ensure efficient inventory clearance without over-discounting. Specify the volume, timeframe, and pricing guardrails, and Promi will continuously monitor and update discounts.
- Improved Communication: Discounts are displayed site-wide using deep links for price changes and other UI components.
- Variable Discounts: They vary discount values across products to take advantage of differences in profit margins and prices, all under a single code. Your email sign-up and member-only campaigns just got a lot more profitable
These solutions improved Uber's discount efficiency by more than 40%. Stay tuned for upcoming features like personalized discounts, performance measurement dashboards, and experiment setups!
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