On Tuesday 21 July, Jet.com officially launched, promising shoppers the “lowest prices on everything”. On the day of launch, Profitero analyzed more than 16,000 exactly-matched products across 7 categories on Jet, Amazon and Walmart and found that Jet was priced an average of 9% lower than Amazon and 6% lower than Walmart.
Profitero today announced that international food retailer Delhaize Belgium has become the latest supermarket to enlist Profitero’s price intelligence solution.
Finding that pricing sweet spot isn’t just about doing the math. Yes, you have to run the numbers when it comes to your costs and profit, but these aren’t the only factors that come into play when setting your prices. In an article originally published on the Vend Retail Blog, Vend retail expert Francesca Nicasio looks at how psychological strategies can impact how consumers perceive prices and products.
Gartner-owned Software Advice, a trusted resource for point of sale software buyers, recently polled a cross-sector of retailers to learn which pricing strategies they deem most effective. We summarise the key findings from this new report “The Best Retail Pricing Strategies by Sector”, with Profitero’s VP Strategy & Insights Keith Anderson providing commentary on how pricing intelligence software can work in conjunction with the most popular pricing strategies.
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.