How Belami Ecommerce Increased Revenue and Achieved Price Parity with Automated Pricing Solutions
Belami Ecommerce has established itself as one of the top lighting and patio eCommerce service providers in the U.S. Since 2001, Belami has grown its online retail, digital marketing, and web development capabilities to serve more than 180 brands and 60-plus storefronts across both direct sites and marketplaces, such as 1STOPlighting, Patio Products USA, and KB Hardware.
Belami hasn’t achieved that level of success without a few hurdles along the way, though. In the hyper-competitive world of eCommerce, Belami is faced with countless competitors and an ever-evolving industry—prices change by the minute, the newest and best technology is always being developed, and shopper sentiment constantly evolves.
An eCommerce platform such as Belami must have the most updated, accurate data and efficient, optimized processes to remain at the top of its industry.
Challenges
The goals for Belami were to know exactly how their online retail competitors’ assortments were priced—and when prices changed—in addition to enforcing minimum advertised price policies.
Initially, Belami addressed these goals by developing their own competitive pricing tools to monitor lighting and patio eCommerce businesses. Unfortunately, Belami was unable to expand their internal tools to address modern blocking technology. As a result, accurate and timely data were hard to come by.
Belami also manually monitored MAP compliance, but that technique was laborious and unable to scale as rapidly as Belami’s product catalog growth. Therefore, the company couldn’t track MAP compliance across various sites. Further, Belami wanted to reprice quickly and confidently, but didn’t have an automated tool that could handle the demands of the eCommerce landscape.
Solutions
Wiser offers a holistic suite of online solutions ideal for Belami’s multiple challenges. Wiser provides automated rule-based repricing, MAP monitoring, and competitive pricing intelligence.
Belami turned to Wiser to support their lighting and patio furniture eCommerce businesses. With competitive intelligence, Belami used Wiser data as a primary input to pricing decisions across their various channels. As a retailer of brands, Belami leveraged Wiser’s MAP monitoring to see if other retailers were below MAP and then notify vendors, so the vendors could either enforce MAP or authorize Belami to match prices.
Regarding repricing, Wiser helped Belami automate repricing across certain marketplaces to better align prices with Belami’s financial business objectives.
PRODUCTS USED:
Wiser was integral in automating our pricing intelligence and understanding the specific challenges we faced as an eCommerce platform.
Matt Stocks
Vendor Account Analyst
Results
Belami no longer needed to develop or maintain internal repricing, MAP monitoring, or competitive intelligence tools. That freed up Belami employees to perform other critical duties for the business.
Overall, Belami’s partnership with Wiser enabled them to:
- Increase revenue.
- Optimize marketing spend.
- Achieve price parity across its competitive set.
- Evaluate external impacts to the business and their root causes.
- Drive cost reductions with vendors through improved data.
“Wiser was integral in automating our pricing intelligence and understanding the specific challenges we faced as an eCommerce platform,” explained Matt Stocks, Vendor Account Analyst at Belami. “The benefits of working with Wiser, especially the ability to increase revenue and have more efficient marketing spend, are a key part of achieving our goals.”
Now, Belami is able to consistently rank as a Top 5 lighting and patio eCommerce business in North America. The company no longer must focus on developing internal pricing and intelligence tools and can instead focus on providing the best service to its customers while Wiser supports it with accurate, trusted online data.
Gain a Partner in Wiser
Wiser Solutions is in it for the long haul. We will be a dedicated partner to your marketing efforts as we work with you to establish baselines, run tests, optimize workflows, and turn our real-time data into confident marketing decisions for your business.
Knock that next merchandising campaign out of the park. Win market share from your competition with price optimization. Understand shopper insights to create better messaging. No matter your goals, Wiser is here to help.
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