Profitero is launching a joint solution with MarketHub and US price optimisation company Revionics to provide supermarkets with a real-time price display and monitoring solution. The first of its kind in the world, the technology incorporates solar cells into wifi-enabled electronic price tags.
The real-time price display solution will officially launch in the US next month, providing large retailers with more control over their pricing strategies. This advanced technology, powered by indoor solar power company Solarprint, will provide supermarkets with a more efficient and flexible means of auctioning shelf space for a particular item – as well as providing shoppers with more special offers and discounts.
Grocers can initially use this solution for up to 300 items, for example in the perishable fruit and vegetable section, and then very easily scale up the infrastructure from there.
The technology could also be used for smartphones as an alternative to monthly coupons that supermarket loyalty cardholders receive through the post. Instead, they could be alerted to offers or discounts on their smartphone whenever they visit a store – which would identify them and their shopping history.
According to Roy Horgan, founder of MarketHub, “If a retailer applied the right strategy using MarketHub, a store could see its sales increase by between 3 and 5% and they would see a return on their investment in less than 12 months.”
Profitero already works with three out of the top five UK supermarkets with an eCommerce presence.
Profitero.com: Web based competitor monitoring for retailers and brands
Profitero is the leading global provider of online competitor pricing data. We provide both bricks & mortar and online retailers with their competitors’ prices, promotions and full product assortment information. Profitero’s accurate and timely competitor intelligence enables our customers to make better informed and more profitable pricing decisions, helping them to increase sales as well as margins.