Pricing Platform
Stationary And Office Supply Retailer Masters Competitive Pricing With FCC
Client Profile : Stationary & Office Supply
Challenges
A leading office products retailer wanted to improve its price position in the competitive office supplies market. The client faced difficulties in tracking thousands of products across 150 brands and diverse product categories. The list of products to track was frequently changing, and the client needed real-time updates on competitors' price changes to maintain competitiveness.
Solution
Flipkart Commerce Cloud's competitive intelligence solution helped the retailer by matching their products to competitors' products, creating new product groups, and providing advanced labeling capabilities. This allowed Staples to measure, align, and continuously monitor prices on a group level, ensuring competitive pricing.
Result
he solution enabled the retailer to offer competitive prices, manage prices on brand and category levels, and maintain margins while reacting to individual price changes. It also helped them shorten response times to competitive price changes, achieving the desired pricing position for significant product groups.
How can we maintain a competitive edge in the highly competitive office supplies market?
A leading office products retailer faced the challenge of improving its price position in a market characterized by intense competition and rapid price changes. With thousands of products across various categories and brands, the brand needed to track prices for a diverse range of items, including ink, office furniture, electronics, and paper.
The dynamic nature of the market required them to receive regular email notifications about price changes at competitor websites to stay competitive. Additionally, the list of products to track changed monthly, adding to the complexity of the task. The brand needed a solution that could provide meaningful product grouping for actionable insights, allowing them to measure, align, and continuously monitor prices on a group level.
The goal was to maintain competitive pricing, manage prices on brand and category levels, and react swiftly to individual price changes without eroding margins. This required a comprehensive and scalable solution that could handle the intricacies of the office supplies market and help it achieve its pricing objectives
Leveraging FCC Solutions for Competitive Pricing
Flipkart Commerce Cloud (FCC) provided retailer with a comprehensive competitive intelligence solution to address their pricing challenges. FCC's advanced labeling capabilities and automated mapping allowed retailer to match their products to competitors' products and create new product groups. Using FCC's Competitive Landscape Reports, retailer gained a high-level view of prices relative to their competition.
The solution enabled retailer to measure, align, and continuously monitor prices on a group level, ensuring competitive pricing. Additionally, FCC's‘ price refresh' and email alerts on price changes at competitors helped the brand maintain competitive pricing while reducing response times to competitor price changes.
Impact
The implementation of FCC's competitive intelligence solution enabled the retailer to maintain competitive pricing, manage prices on brand and category levels, and react swiftly to individual price changes. This helped the retailer achieve the desired pricing position for significant product groups, maintain margins, and improve response times to competitor price changes, strengthening their market dominance.
