In this episode of Total Retail Tech Insights, Editor-in-Chief Joe Keenan interviews Alex Galkin, founder and CEO of Competera, a technology company that offers a comprehensive pricing platform. Listen in as Galkin discusses Competera's offerings and why he decided to start the company (0:51), the advice he would go back and give himself when starting the business (2:45), and a look into his day-to-day routine as a tech founder and CEO in today's evolving retail environment (3:48). Considering that it’s quite a challenging time for the retail market, Galkin shares the solutions Competera offers to help retailers succeed (7:00), as well as tips for brands and retailers to combat inflation and rising costs (10:33).
In addition, Galkin discusses the retail industry's readiness for the massive adoption of artificial intelligence-driven pricing (12:53), some of the legacy mistakes retailers are making with their current pricing strategies (15:37), and how innovative technology can enhance rather than replace traditional jobs (18:19). He details how AI can help optimize omnichannel pricing strategies (21:00), and why retailers' pricing should be optimal, not dynamic, to avoid price discrimination (24:47). Lastly, Galkin shares advice for retailers evaluating their current pricing strategies (28:51).
Alex Galkin is the CEO and founder of Competera, a price optimization software for enterprise retailers. He's a Forbes Technology Council member and a speaker at IRX, eCommerce, and RBTE conferences.