Omni-channel enables shoppers to research offers, compare deals and even influence the price. Traditional sales strategies need to give way to new customer-centric pricing models. Big data infrastructure and advanced analytics are needed to replace manual, labour intensive and time consuming spreadsheets and unlock customer data.
Competitive price and convenience continue to drive omni-channel shoppers who move between online channels and devices with ease.
For you as a retailer, being on top of your competitor pricing and acting accordingly has never been so important. Based on research across our top retailers, trading teams find it almost impossible to keep abreast of how competitive their entire product catalogue is, tending to focus on optimising 20-40% of products.
Consumers on the other hand expect all products to be competitive, not just the top sellers as no two consumers are the same.
Our Trading Intelligence allows retailers to monitor their entire product catalogue against named competitors, while providing actionable insights on suggested changes from increasing prices inline with competition and maximising margins to reducing pricing for alignment to secure additional sales.