The Tokmanni Group is the biggest discount store chain in the Nordics and their vision is to offer an extensive range of quality products at affordable prices. To stay price-competitive, the discount retailer needs to constantly check competitor prices – previously a manual process that was neither time nor cost-efficient. Read this brand new case study to find out why they turned to Profitero.
“If you don’t possess competitive pricing data you are operating in a vacuum, which is never a good thing for a healthy business” RIS Pricing Optimization Report, January 2015
A recent RIS News report “New World of Pricing Optimization” reaffirms the importance of competitive pricing in retail today – retailers ‘need the feed’. They need to know what their competitors are doing in near- real-time and in an easy-to-consume data feed. According to the report, quality data is the key to accurate and effective pricing implementation.
In this case study featuring leading Nordic discount retailer Tokmanni Group, find out why they approached Profitero to more accurately and efficiently collect competitor pricing data.
“The old fashioned way of comparing prices store-by-store was not time nor cost-efficient”
The Tokmanni Group is the biggest discount store chain in the Nordics. To commit to its customer pledge in offering the lowest prices, the retailer needs to be aware of constant price changes in the marketplace – driven by the continued growth of eCommerce and increased consumer price transparency.
Previously, Tokmanni’s competitor prices were checked manually by in-store buyers and through screening competitor prices online. This lack of a centralized approach to price monitoring resulted in differing methods of tracking and analysing pricing data.
Increasingly, Tokmanni identiﬁed a very real need for access to fact-based, real-time data on its overall market pricing, both in its physical stores and online channel. The discount retailer wanted an online price intelligence solution that was capable of efficiently collecting pricing data that would enable Tokmanni to make informed, business-critical decisions.
“The desired outcome of using Profitero was to help our buyers easily monitor market prices and make the pricing process more efficient, transparent and real-time”
Following a tender process featuring other price intelligence providers, Proﬁtero was able to deliver a tailor-made online price monitoring solution that matched Tokmanni’s speciﬁc pricing needs. As proof of this, Proﬁtero matched and compared online competitor products to some of Tokmanni’s products that were not found online. Our flexible and user-friendly interface also set us apart from other providers.
Since implementing our solution, Proﬁtero has helped make Tokmanni’s pricing process faster, efficient and more transparent. Tokmanni uses our pricing intelligence to identify mispriced products, implement more consistent pricing both online and in-store, as well as to help drive more effective supplier negotiations.
Profitero is the leading global provider of eCommerce intelligence for global brands and retailers.
Profitero provides dozens of global brand manufacturers with critical eCommerce insights, helping to enhance their online sales and market positioning. We deliver key online metrics, including pricing, product content quality, search ranking, share of online shelf and promotions, in any country and from any online or multichannel retailer. Profitero collects online insights from 275 million product pages at more than 4,000 online retailers in 50+ countries every day.
Profitero also provides both brick & mortar and online retailers with their competitors’ prices, promotions and full product assortment information. More than 50 global retailers, including Staples, Waitrose, Ocado, Morrisons, Walmart-owned Sam’s Club and Worten, rely on Profitero’s accurate and timely competitor price intelligence to make better informed and more profitable pricing decisions, helping them to increase sales as well as margins.