Maxim Morozov is Founder & CEO of GoalProfit, an Austin Founder Institute portfolio company providing the world's first low-code retail optimization platform. Made for retailers by retailers, GoalProfit's software helps craft data-driven merchandising decisions, so retailers can go from implementing better pricing to bringing in higher profits.
GoalProfit is a high-performance, low-learning-curve database solution, ideal for retail managers, pricing analysts, trade marketers and merchandising executives. With increased inflation pressures across the world, combined with the hyper-competitive retail environment, getting pricing right for small and medium sized retailers is more important now than ever.
The company recently raised a $655k pre-seed funding round from angel investors and the VC firm YellowRockets. GoalProfit makes data-driven merchandising decisions possible through low-code solutions—ones even small to medium sized retailers, without a big IT department, can deploy and maintain at scale themselves.
Watch the full interview with GoalProfit Founder Maxim Morozov here, or read some of the highlights below:
Key Founder Insights:
- Retail is the biggest industry in the world by revenue size, and currently under extreme pressure: from pandemic-induced bankruptcies, inflation, and supply chain challenges
- Low Code is ideal for smaller retailers, not only in terms of deployment, but also ongoing systems maintenance—cross industry competition for developers and IT experts is fierce, and not where small retailers want to allocate resources
- More than a tool: use of GoalProfit platform over time strategically helps retailers understand "Profit Drivers" versus "Profit Builders," and optimizing pricing of different items to achieve greater overall profitability
- In retail complexity is bad, simplicity is good: importance of embracing flexibility and an agile approach, especially in times of uncertainty and heightened competitiveness
Founder Maxim Morozov comes to GoalProfit with a previous decade+ experience in retail, customer success and sales software, having built his career working in The Nielsen Company, IBM, and then Ailet—so he brings a wealth of industry experience to GoalProfit's data intensive platform and applications solutions.
Mostly we help to optimize prices, and optimize promotions and markdowns—that is our main value for our clients... The idea is to convert your [retailer] data into money.
Retailers use GoalProfit to optimize critical merchandising decisions, like:
- Pricing, based on factors like elasticity of demand and competitor pricing
- Markdowns, based on inventories, demand, and seasonality; and
- Promotions, based around the business's financial goals
GoalProfit is more than a tool, it is a platform solution whose insights compound over time, and one that even small to medium sized retailers can truly be confident in deploying and maintaining themselves. As CEO Maxim Morozov explains,
We built the [GoalProfit] platform using in-memory database, which is quite fast and cost effective—but what's more important is it has low code tooling, so you can build business applications quickly."Feature requests or change requests are cheap—and so we started the company around this platform and technology... [Users] can build applications at a low cost, it's affordable for them—but at the same time, they get the capabilities of enterprise-level solutions from big IT.
To learn more about the low-code platform for retailers or try it out yourself, visit GoalProfit's website at GoalProfit.com
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