Profitero, the recognised leader in competitive pricing intelligence, today announced that Waitrose has selected Profitero as data provider for its Brand Price Match initiative in a multi-year agreement. This latest customer announcement means that Profitero now works with three of the five largest UK supermarkets with an eCommerce presence.
The Waitrose Brand Price Match scheme pledges to match the price of branded groceries on the shelves of Tesco as it seeks to offer even better value, without compromising on quality, to its customers. Online competitor price monitoring is proving to be critical to retailers in today’s marketplace to help them grow sales and profit margins.
Volodymyr Pigrukh, CEO and co-founder of Profitero, said of the agreement: “We are delighted to welcome Waitrose on board as a Profitero customer and are confident that our advanced pricing technology will enable Waitrose to remain competitive on price. In selecting Profitero, Waitrose has recognised that our technology is the most scalable solution on the market, delivering the highest match rates and accuracy in the industry.”
Jeremy Pattison, Manager, Pricing and Promotions at Waitrose said: “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.”
As well as providing retailers with the highest match rate in the industry for branded products, Profitero also match and normalise weight and volume for private label competitor matches at scale, so that clients can benchmark own-label products against any competitor. Profitero is the only service to offer automated private-label matching for the FMCG market in the UK.
Waitrose, Britain’s favourite supermarket*, has 291 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. www.waitrose.com
*Which? Annual Supermarket Satisfaction Survey, Verdict Annual Consumer Satifaction Awards and Good Housekeeping Awards, **Kantar Worldpanel
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
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