Profitero reports that UK supermarket Waitrose has benefited from strong sales growth and increased market share since implementing Profitero’s price intelligence solution for its Brand Price Match initiative. The supermarket recently reported its best Christmas ever, with online grocery orders up 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 the supermarket’s specific needs. The price intelligence solution was seamlessly integrated into Waitrose’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 its 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.
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Profitero.com: Online competitor price 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.
Our pricing data can be seamlessly integrated into price optimization solutions such as Blue Yonder, Revionics and IBM DemandTec, to deliver more accurate and effective price optimization. Profitero is also the preferred supplier of online competitor pricing data to Nielsen’s retail customers across more than 100 countries.