Profitero, a leading global provider of online competitor pricing data, reports Waitrose continues to benefit from strong sales growth and increased market share since implementing Profitero for its Brand Price Match initiative.
The supermarket recently reported its best Christmas ever, with online grocery orders up by 33.5% over the festive period.
The Waitrose Brand Price Match scheme ensures 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 its previous system would need to be strengthened to cope with any additional growth.
Profitero said it 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 their specific needs. The price intelligence solution was seamlessly integrated into the supermarket’s existing pricing strategy, resulting in a quick and easy transition.
Jeremy Pattison, pricing and promotions manager at Waitrose, said: “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 said it has been able to confidently maintain its Brand Price Match initiative and ensure 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% to £736m in the five weeks leading up to Christmas, with online grocery orders up by 33.5%.
Profitero monitors over 70m products across 4,000 e-commerce websites every day, providing critical price intelligence to more than 40 global retailers including Staples, Waitrose, Ocado, Wal-Mart-owned Sam’s Club and Worten.
Its product matching capability, which uses both advanced proprietary matching technology as well as manual validation of matches, ensures that Profitero delivers the highest match rates and accuracy in the industry, the company claims.