Wholesaler Costco UK has launched an eCommerce website. Costco.co.uk offers a wider range of products than what is available at its 22 warehouses in the UK.
As well as offering food, drinks and general merchandise items, the new Costco website also includes many high-priced, premium products e.g. a 4.25 ct. diamond ring for a whopping £359,999.
Garth Morris, eCommerce director at Costco UK said that the new site will give its members “an expanded selection of new items, adding further value to their membership”. The new website will complement the warehouses – “a welcome addition”, he explained.
The online prices are for members only; non-members can purchase products on www.costco.co.uk by paying an additional 5 per cent surcharge and VAT at the checkout stage of the online transaction.
As well as providing the opportunity to grow sales from this new channel, going online in the UK will also help the wholesaler to carry out web-based competitor monitoring on product pricing. Pricing managers can use the price monitoring information to react quickly to increases or decreases in competition pricing – lowering Costco’s pricing to increase sales or raising prices for higher profit margins.
Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world’s leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email firstname.lastname@example.org