How a Pure-Play Retailer Transformed Their Approach to Pricing with Wiser 

Background and Challenges

A pure-play retailer based in Australia was experiencing rapid growth, largely due to their aggressive pricing strategy. However, they faced major obstacles with their previous price intelligence provider, which limited their ability to continue advancing:

Poor match quality:

The previous provider had difficulty accurately matching competitor products, leading to significant gaps in the retailer’s competitive analysis. Moreover, the manual matching process couldn’t handle the complexity and large volume of SKUs in their catalog, further reducing accuracy.

Incomplete pricing data:

Key pricing information was frequently missing for specific products, brands, or product variants, making it difficult to maintain a complete view of competitor pricing. This issue was especially problematic for products lacking standard identifiers like GTINs or UPCs.

Lack of price optimization:

The retailer was unable to automate its pricing strategies because the previous provider only offered basic price recommendations, without real-time optimization.

Limited collaboration:

The retailer wanted a partner who could collaborate with them to continuously improve their pricing strategies, something their former provider couldn’t deliver.

Wiser’s Pricing Solution

Wiser stepped in to solve these issues with a customized solution through its Price Intelligence and Price Optimization platforms. The key features and benefits include:

Automated and Manual Price Matching:

Wiser provides a hybrid approach that combines automated price matching with manual matching for products without standard identifiers. This approach fills data gaps and enables more thorough competitor tracking.

Custom Pricing Strategies:

Wiser’s tools enable the retailer to implement customized pricing strategies across five distinct categories in their catalog. This includes aggressively competitive pricing for key value items (KVIs) and promotional pricing for grocery-like products. The flexibility allows the retailer to effectively manage both high-volume and clearance items, adapting their approach based on competitor data and internal goals. These strategies help optimize product movement, from fast sellers to clearance stock.

Data Flexibility and Control:

Wiser gives the retailer the ability to manually adjust product matches, allowing them to quickly refine their data and maintain control whenever discrepancies arise.

Advanced Calculations:

Wiser’s platform enables the retailer to utilize advanced pricing models, including margin-based calculations, while setting clear price boundaries for more precise price recommendations.

Seamless Data Integration:

Wiser delivers pricing data directly to the retailer’s Google Storage Bucket, as well as through SFTP, enabling them to incorporate the data into broader analytics systems, as required.

Collaborative Partnership:

Wiser set up weekly touchpoints with the retailer’s pricing team, delivering a detailed Match Rate Report that tracks performance and supports ongoing strategy refinement. This report is shared with the Executive Team each week, enabling data-driven decision-making.

Looking Ahead

With Wiser’s support, the retailer plans to further automate pricing decisions by pushing recommendations directly to their website, integrating sales data into their decision-making process and expanding their SKU range and competitor tracking as they grow. Wiser’s platform will continue to be an integral part of their future pricing strategy, driving better market responsiveness and efficiency.