London (PRWEB UK) 19 September 2013
Profitero, the leading global provider of online competitor pricing data, today reveals that it delivers an impressive 63% higher price data accuracy than previous suppliers for Nebraska Furniture Mart, the largest home furnishings store in North America.
Nebraska Furniture Mart had previously been using two suppliers to monitor competitor prices for their Appliance and Electronics category – a notoriously price competitive sector - however the retailer had only received 60% accurate data. Nebraska needed a solution that was capable of delivering much greater accuracy, providing them with the confidence to adjust their prices on a daily basis in order to be price competitive.
Profitero delivered the initial test files within one week and according to Mark Shaw, Appliance and Electronics Business Development Manager at Nebraska, “From the first contact with Profitero, they quickly understood the data feed that we required. After reviewing the test files, it was clear that Profitero knew what they were doing.”
After comparing several new providers, Profitero was selected for the scale and frequency of data that was required, proving to be the most accurate and cost-effective solution on the market.
Commenting on these results, Volodymyr Pigrukh, CEO and co-founder of Profitero, said: “Nebraska Furniture Mart selected Profitero as we are the recognised leader in price intelligence due to our reliable data feed and pricing data accuracy. We are delighted that this has been demonstrated in a recent audit conducted by Nebraska themselves, where our price data was shown to have achieved 98% accuracy. What’s more, we have also helped free up the 25-30% of Nebraska’s time previously spent checking competitors’ prices, enabling them to spend more time negotiating with manufacturers and growing sales.”
Nebraska Furniture Mart now uses Profitero Price Intelligence seven days a week to adjust their prices with confidence and provide customers with the best available prices.
Profitero is the leading global provider of online competitor pricing data. We enable retailers to make faster and smarter pricing decisions by delivering their competitors’ prices, promotions and full product assortments to them every day. Profitero works with more than 40 global retailers including Walmart-owned Sam’s Club, Staples, Tesco, Waitrose, Worten and Ocado who use us to:
Benchmark competitor prices; Manage their prices and promotions; Attract price sensitive shoppers; Negotiate better with suppliers.
Profitero is an IBM Business Partner, collaborating closely with IBM on the integration of online pricing intelligence data into IBM Smarter Commerce Products. Profitero also collaborates with Nielsen, providing the highest quality online price audit data to Nielsen’s retail clients in more than 100 countries.
For more information on how Profitero can help make your pricing smarter, email sales(at)profitero(dot)com or visit http://www.profitero.com.
About Nebraska Furniture Mart:
Nebraska Furniture Mart was founded in 1937 in Omaha, Nebraska by Rose Blumkin in the basement of her husband’s pawn shop with a $500 investment. In 1983, investor Warren Buffett purchased a majority interest in Nebraska Furniture Mart and made it part of the Berkshire Hathaway family of companies. Today, Nebraska Furniture Mart has locations in Omaha, Nebraska, Des Moines, Iowa and Kansas City, Kansas. For more information on Nebraska Furniture Mart, visit http://www.nfm.com.