Profitero provides us with the data we require to support our pricing strategy, helping us to continue to deliver the best possible value to our shoppers.
London (PRWEB UK) 21 January 2014
Profitero, the leading global provider of online competitor pricing data, today reports that Waitrose continues to benefit from strong sales growth and increased market share since implementing Profitero for its Brand Price Match initiative. The supermarket recently reported its best Christmas ever, with online grocery orders up by 33.5 percent over the festive period.
The Waitrose Brand Price Match scheme ensures that customers will not pay more than at Tesco for branded groceries, excluding promotions. However with the increase in the number of lines that needed to be matched, Waitrose identified that its previous system would need to be strengthened to cope with any additional growth.
Profitero was able to provide Waitrose with the guaranteed delivery of timely and accurate price intelligence across thousands of products, and a service that was tailored to their specific needs. The price intelligence solution was seamlessly integrated into the supermarket’s existing pricing strategy, resulting in a quick and easy transition.
Jeremy Pattison, Pricing and Promotions Manager at Waitrose commented: “Brand Price Match and sharper own-label prices continue to change customers’ views on Waitrose’s price position and attract more people to shop with us each week. Profitero provides us with the data we require to support our pricing strategy, helping us to continue to deliver the best possible value to our shoppers.”
Since switching data collection to Profitero, Waitrose has been able to confidently maintain its Brand Price Match initiative and ensure that customers benefit from more competitive prices. In addition, Waitrose continues to achieve strong sales growth and increased market share ahead of its competitors. Sales at Waitrose were up 5.4 percent to £736 million in the five weeks leading up to Christmas, with online grocery orders up by 33.5 percent.
Profitero monitors over 70 million products across 4,000 eCommerce retailers every day, providing critical price intelligence to more than 40 global retailers including Staples, Waitrose, Ocado, Walmart-owned Sam’s Club and Worten. Its product matching capability, which uses both advanced proprietary matching technology as well as manual validation of matches, ensures that Profitero delivers the highest match rates and accuracy in the industry.
Waitrose, Britain's favourite supermarket*, has 302 shops in the UK and Channel Islands and is consistently achieving sales growth ahead of the market both in its branches and its online grocery service, Waitrose.com**.
Its strong performance has been driven by the success of the essential Waitrose range, Brand Price Match and an unmatchable top tier of products as well as a long term commitment to sourcing the UK's finest local and regional foods. Waitrose combines the convenience of a supermarket with the expertise and service of a specialist shop - dedicated to offering quality food that has been responsibly sourced combined with high standards of customer service. http://www.waitrose.com
*Which? Annual Supermarket Satisfaction Survey, Verdict annual Consumer Satisfaction Awards and Good Housekeeping Awards,** Kantar Worldpanel.
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 Staples, Waitrose, Ocado, Walmart-owned Sam’s Club and Worten who use us to:
- Benchmark competitor prices;
- Manage their prices and promotions;
- Attract price sensitive shoppers;
- Negotiate better with suppliers.
Profitero collaborates with leading price optimization providers including Revionics, IBM DemandTec and Blue Yonder, with Profitero’s competitor pricing data integrated directly into these solutions to provide more accurate and effective price optimization. Profitero is also in a strategic alliance with Nielsen as the preferred supplier of online competitor pricing data to their retail clients.
For more information on how Profitero can help make your pricing smarter, email sales(at)profitero(dot)com or visit http://www.profitero.com.