Case #1 - Optimized Pricing
A major national retailer was facing declining market
share in a major category and was at risk of losing their leading
position. They had a vague notion that they might be overpriced,
but their data was anecdotal at best.
360pi provided them with complete visibility into thousands of
their products across multiple key competitors. This gave them
actionable empirical evidence and not only verified that they were
over-priced on items, but by precisely how much. Given increased
price transparency and price sensitivity by consumers, it was clear
that they were losing unit sales on higher priced products as well
as customer traffic in their stores.
They also discovered that their premium products were
underpriced compared to their competitors, meaning they were
missing out on a substantial amount of potential margin and
revenue. Both of these discoveries have allowed this retailer to
optimize their pricing strategy accordingly, in order to improve
sales, improve margins and increase revenues.
Case #2 - Improved Negotiating Position
A leading bricks and mortar retailer arranged a promotion
on a manufacturer's products and secured a special discount from
the manufacturer to help drive sales. They spent a significant
amount of time, money and resources in preparing and advertising
this promotion and expected to see an increase in sales.
However, with 360pi they discovered that despite their lowered
promotional pricing, they were still at a higher price than their
key competitor. In their words, this "really raised some
eyebrows", and they started questioning whether the price the
manufacturer offered them was really the best price, or if they had
more overhead and additional costs in their sales process than
360pi helped this retailer improve their negotiating position with
the manufacturer, increase their margins and create more successful
Case #3 - Faster, Better Price
A leading e-commerce retailer, who prides themselves "on
being a low-price leader," recently found that they were actually
ranked 14th out of 26 possible competitors on pricing! Needless to
say, not exactly in line with their pricing strategy.
Using 360pi, they have changed their processes to analyze their
prices daily, and make adjustments in pricing and product mix to
optimize their margins and live up to their claims. They are now
making tens of thousands of price changes on a daily basis,
something that would have been impossible without 360pi.