Waitrose has selected pricing intelligence specialist, Profitero, as the data provider for its Brand Price Match initiative in a multi-year agreement.
The Waitrose Brand Price Match scheme pledges to match the price of branded groceries on the shelves of Tesco as it seeks to offer even better value, without compromising on quality, to its customers. Online competitor price monitoring is claimed to be proving critical to retailers in today’s marketplace to help them grow sales and profit margins.
Volodymyr Pigrukh, CEO and co-founder of Profitero, said: “We are delighted to welcome Waitrose on board as a Profitero customer and are confident that our advanced pricing technology will enable Waitrose to remain competitive on price. In selecting Profitero, Waitrose has recognised that our technology is the most scalable solution on the market, delivering the highest match rates and accuracy in the industry.”
Jeremy Pattison, manager, pricing and promotions 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.”
As well as providing retailers with the highest match rate in the industry for branded products, Profitero said it can also match and normalise weight and volume for private-label competitor matches at scale, so that clients can benchmark own-label products against any competitor. Profitero claims it is the only service to offer automated private-label matching for the FMCG market in the UK.