VTEX and Spresso.AI partner to bring dynamic pricing to Jeffers Pet

Jeffers Pet, also known as Jeffers, is a well-known American company that specializes in providing a wide range of pet supplies and veterinary equipment. These products include pet food, medications, grooming supplies, farm and ranch equipment, and more.

Challenge

In the dynamic world of ecommerce, the quest for growth and profitability hinges on one pivotal factor—pricing. Jeffers Pet, the omnichannel haven for pet supplies, knows this truth all too well. Faced with the need to boost their online sales and enhance profitability, they turned to a generative pricing solution with the help of VTEX and its partner Spresso.AI.

For Jeffers Pet, the goal was clear: to embrace a pricing strategy that could seamlessly adapt to the diverse objectives associated with their extensive product range. Some categories demanded an emphasis on conversion and sell-through rates, while others required a keen focus on maximizing profit margins.

However, there was a gnawing concern within Jeffers Pet. They feared that pursuing a multifaceted pricing strategy might lead to an unwieldy, time-consuming solution. The challenge lay in finding the balance between maintenance and flexibility, which only a pragmatic approach to a composable architecture could deliver. 

Solution

With VTEX’s composable and complete platform, Jeffers Pet was already capitalizing on revenue-generating out-of-the-box-functionalities, such as Live Shopping. So when VTEX partnered with Spresso.AI to bring generative pricing to its merchant base, Jeffers was first in line.

Generative pricing, also known as AI-powered pricing, is a data-driven approach to pricing that uses AI, machine learning, and advanced analytics to dynamically adjust prices based on real-time demand, competition, and customer behavior. The integration of Spresso.AI’s solution, Price Optimization, with VTEX empowered Jeffers Pet to implement a dynamic pricing strategy that catered to the SKU level, offering a competitive edge. 

Price Optimization was crafted by retail insiders who walked in the shoes of retail challenges. This provided me with peace of mind, knowing that the solution was designed to address real-world issues.

Ruth Jeffers, co-CEO, Jeffers Pet

Price Optimization capitalizes on Jeffers Pet’s website traffic as a primary data source, using consumer behavior to swiftly pinpoint the optimal price point. VTEX’s powerful platform empowered the company to execute its vision and strategy flexibly and efficiently, which led to some noteworthy outcomes. 

Results

Jeffers Pet set up several pricing campaigns with varying strategies and goals, yielding some impressive results:

• 42% increase in sales per impression
• 64% increase in conversion on optimized SKUs
• 44% increase in profit per unique impression

The development of the Spresso Insights app, coupled with VTEX’s commitment to seamless integration, means that merchants can quickly adopt dynamic pricing to accelerate business growth. The partnership with Spresso.AI underscores the strength of the VTEX partner ecosystem, which offers a diverse array of best-in-class ecommerce solutions. 

*All information and numbers seen in the text above were provided and approved by Jeffers Pet.