Profitero is delighted to announce that our entry with Ocado “Ocado with Profitero, Low Price Promise” has been shortlisted for Customer Insight Project Of The Year in the BT Retail Week Technology Awards 2014.
Retailing is all about data, and the BT Retail Week Award for Customer Insight Project Of The Year seeks to recognise the best uses of data and analytics in the industry.
Profitero is thrilled that our submission with Ocado has been shortlisted for its ‘clever use of pricing data.’ Here’s why.
Ocado’s Low Price Promise makes it easier for customers to compare grocery prices without the need to price check other websites. After an order is placed, Ocado automatically compares the basket price of these products with what the shopper would have paid for an equivalent order at Tesco. If Ocado is not shown to be cheaper, a voucher is sent to the customer for more than the difference, up to £10.
The biggest challenge for Ocado in launching this initiative was to match equivalent own-label products. After reviewing other price intelligence solutions, Profitero was selected to partner with Ocado as we were proven to offer the highest degree of accuracy in matching, specifically amongst own-brand items.
Ocado’s Low Price Promise, launched in 2012, has been key to Ocado’s growth strategy of improving customer confidence in pricing. The initiative provides Ocado customers with the immediate assurance that they have secured the best price for their online grocery shop, and has helped Ocado attract more customers than ever before and achieve double digit sales growth.
Profitero is the leading pan-European provider of online competitor pricing data to supermarkets across Europe. To find out how we enable retailers to make better informed and more profitable decisions in order to drive sales and increase margins, email us at sales@profitero.com or visit www.profitero.com
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About Profitero
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.
More than 40 global retailers, including Staples, Sam’s Club, Tesco, Waitrose and Ocado, rely on Profitero Price Intelligence to:
- Benchmark competitor prices
- Manage their prices and promotions
- Attract price sensitive shoppers
- Negotiate better with suppliers.
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.
To discover how Profitero can help make your pricing smarter, contact us at sales@profitero.com or visit www.profitero.com.