Brazilian Retailer Lets Customers Negotiate The Prices Of Electronics

Brazilian Retailer Lets Customers Negotiate The Prices Of Electronics
Retail

Fast Shop uses Microsoft's machine learning to inform its dynamic pricing

Zack Palm
  • 9 january 2018

Brazilian retailer Fast Shop is committed to providing customers with a personalized experience at its brick-and-mortar locations—so much so that allows customers to negotiate on the prices of electronics during the sale. To manage its flexible pricing, the company implemented Microsoft Azure’s machine learning to pull dynamic information about inventory, competitors and even weather conditions.

While the retailer does have an online presence, it encourages customers to visit its physical locations. Each one features a unique interior design, and customers who come in have the chance to negotiate prices on all of the products sold there. Fast Shop wants customers to have this ability to negotiate; however, the AI ensures that it doesn’t lose money on a sale.

The Microsoft Azure program runs advanced analytics on every product, determining a price based on how many are in stock, prices at fast shop competitors and other variables. Customers still have a chance to negotiate with Fast Shop employees, but now the employees know how far they can reduce a price and still come away with a profit.

In the future, Fast Shop plans to launch a chatbot using Microsoft software to assist customers on its website.

Fast Shop


Lead Image: smartphone in electronic store via Shutterstock

Brazilian retailer Fast Shop is committed to providing customers with a personalized experience at its brick-and-mortar locations—so much so that allows customers to negotiate on the prices of electronics during the sale. To manage its flexible pricing, the company implemented Microsoft Azure’s machine learning to pull dynamic information about inventory, competitors and even weather conditions.

+AI
+artificial intelligence
+brazil
+Design
+machine learning
+Microsoft
+mobile
+retail
+technology

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