Optimizing ecommerce pricing with dynamic, personalized discounts
Promi is a pricing and discount optimization platform. We help merchants by personalizing and dynamically setting discounts across products to maximize sales and profit. Ecommerce merchants and marketers typically use discounts to drive customer acquisition, boost sales during holidays, or liquidate inventory. But deciding on a discount to offer is typically guesswork. Who to send the discount to, how much to offer, and which products it applies to are, in the most advanced cases, determined manually by looking at past sales and seeing what worked well. In the majority of cases, it's what feels and sounds good. Promi leverages your store data to optimize discounts at a more granular level than possible manually. We dynamically determine the best value across each product, for different users, at different times in order to maximize sales and profit.
Latest News
Active Founders
Peter Moot, Founder
Co-founder @ Promi, a pricing and discount optimization platform. Prior to Promi I led product for discounts at Uber. I have a degree in economics and computer science from Harvard.
Jiaxin Lin, Founder
Co-founder of Promi. Most of my career has been working on recommendation / personalization systems in the e-commerce space. Avid coder and lifelong learner.
Company Launches
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.
We are available on the Shopify app store!
https://youtu.be/HsVv82xmyNw?si=nr-sLwtCLy18wddi
👬 Meet Our Team
Peter: The Discount Guru
Peter is coming from Uber, where he was the product lead overseeing discounts across Eats and Rides. While there, he launched many of the features we 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.
💡 Our 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: We 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!
🙏 Ask: Check out Promi!
If you run a Shopify store or know someone who does, we'd love to chat. Email us at peter@usepromi.com.
See our website and app listing below:
YC Sign Photo
Hear from the founders
How did your company get started? (i.e., How did the founders meet? How did you come up with the idea? How did you decide to be a founder?)
We both worked at Uber prior to Promi, where Peter led product for discounts across Uber Eats and Rides. Jiaxin worked on Uber’s core AI team. Peter had the idea for Promi after having seen how wasteful discounts were for the business, and how impactful certain features could be for making discounts more efficient and ROI positive.