Success Story
Differs x YellowKorner: +14% profit
Differs x YellowKorner: +14% profit
June 25, 2024
June 25, 2024
YellowKorner perfects the science of pricing the art with Differs:
The Brand
YellowKorner is a leading global gallery specializing in limited-edition fine art photography, making high-quality artwork accessible to a broad audience while showcasing both renowned and emerging artists.
The Pain 💥: Art is inherently subjective, and pricing relies on various statistical models tailored to different markets. The pricing decision is time-consuming and complex.
A fine photograph has its uniqueness and appeal to customers, making the pricing for each piece complex and different, and, as with any art form, valuing the art is subjective. Before Differs, YellowKorner relied on different statistical models for multiple markets in which the brand operates, matching the product's potential with customer willingness to buy.
The process still could not avoid uncertainty; the decision maker either undershoots or overshoots the price point.
The Cure 🧪: Balancing marketing potential with customer willingness to buy, Differs suggests the optimal pricing for each piece of art.
Differs AI analyzes years of YellowKorner sales data, processes a vast amount of information to recommend an optimal pricing strategy. It considers the distribution across each market, globally, the local purchasing power, and the product demand. With all the information in place, YellowKorner is now able to evaluate each product across multiple markets and customer profiles to come up with the optimal pricing strategy.
The platform centralizes all the information in one place, consolidates the sales data, and provides insights into pricing strategy with a few clicks. The setup allows for customization and flexibility for different products and markets.
Not only does the price become more precise, but YellowKorner also spends less time on the pricing decision.
The Results ✨: Products managed with Differs see a gross profit uplift of +14%
In a live A/B testing between traditional pricing and the price suggested by Differs, YellowKorner can now align the pricing with the market potential better. The products managed by Differs see a quantity uplift of +20%, a revenue uplift of 13%, and a gross profit uplift of +14% compared to the products priced with traditional pricing.
Final thought: Subjective pricing demystified
The value of art itself is still subjective, but not for customers' behavior and their willingness to buy. Smart sellers know how to measure the willingness to buy and price the product that best matches.
YellowKorner perfects the science of pricing the art with Differs:
The Brand
YellowKorner is a leading global gallery specializing in limited-edition fine art photography, making high-quality artwork accessible to a broad audience while showcasing both renowned and emerging artists.
The Pain 💥: Art is inherently subjective, and pricing relies on various statistical models tailored to different markets. The pricing decision is time-consuming and complex.
A fine photograph has its uniqueness and appeal to customers, making the pricing for each piece complex and different, and, as with any art form, valuing the art is subjective. Before Differs, YellowKorner relied on different statistical models for multiple markets in which the brand operates, matching the product's potential with customer willingness to buy.
The process still could not avoid uncertainty; the decision maker either undershoots or overshoots the price point.
The Cure 🧪: Balancing marketing potential with customer willingness to buy, Differs suggests the optimal pricing for each piece of art.
Differs AI analyzes years of YellowKorner sales data, processes a vast amount of information to recommend an optimal pricing strategy. It considers the distribution across each market, globally, the local purchasing power, and the product demand. With all the information in place, YellowKorner is now able to evaluate each product across multiple markets and customer profiles to come up with the optimal pricing strategy.
The platform centralizes all the information in one place, consolidates the sales data, and provides insights into pricing strategy with a few clicks. The setup allows for customization and flexibility for different products and markets.
Not only does the price become more precise, but YellowKorner also spends less time on the pricing decision.
The Results ✨: Products managed with Differs see a gross profit uplift of +14%
In a live A/B testing between traditional pricing and the price suggested by Differs, YellowKorner can now align the pricing with the market potential better. The products managed by Differs see a quantity uplift of +20%, a revenue uplift of 13%, and a gross profit uplift of +14% compared to the products priced with traditional pricing.
Final thought: Subjective pricing demystified
The value of art itself is still subjective, but not for customers' behavior and their willingness to buy. Smart sellers know how to measure the willingness to buy and price the product that best matches.
YellowKorner perfects the science of pricing the art with Differs:
The Brand
YellowKorner is a leading global gallery specializing in limited-edition fine art photography, making high-quality artwork accessible to a broad audience while showcasing both renowned and emerging artists.
The Pain 💥: Art is inherently subjective, and pricing relies on various statistical models tailored to different markets. The pricing decision is time-consuming and complex.
A fine photograph has its uniqueness and appeal to customers, making the pricing for each piece complex and different, and, as with any art form, valuing the art is subjective. Before Differs, YellowKorner relied on different statistical models for multiple markets in which the brand operates, matching the product's potential with customer willingness to buy.
The process still could not avoid uncertainty; the decision maker either undershoots or overshoots the price point.
The Cure 🧪: Balancing marketing potential with customer willingness to buy, Differs suggests the optimal pricing for each piece of art.
Differs AI analyzes years of YellowKorner sales data, processes a vast amount of information to recommend an optimal pricing strategy. It considers the distribution across each market, globally, the local purchasing power, and the product demand. With all the information in place, YellowKorner is now able to evaluate each product across multiple markets and customer profiles to come up with the optimal pricing strategy.
The platform centralizes all the information in one place, consolidates the sales data, and provides insights into pricing strategy with a few clicks. The setup allows for customization and flexibility for different products and markets.
Not only does the price become more precise, but YellowKorner also spends less time on the pricing decision.
The Results ✨: Products managed with Differs see a gross profit uplift of +14%
In a live A/B testing between traditional pricing and the price suggested by Differs, YellowKorner can now align the pricing with the market potential better. The products managed by Differs see a quantity uplift of +20%, a revenue uplift of 13%, and a gross profit uplift of +14% compared to the products priced with traditional pricing.
Final thought: Subjective pricing demystified
The value of art itself is still subjective, but not for customers' behavior and their willingness to buy. Smart sellers know how to measure the willingness to buy and price the product that best matches.
