Grocery Retailer Grows Market Share with More Agile Pricing Strategy

Background and Challenges

A leading grocery retailer sought to strengthen its competitive pricing strategy by gaining access to accurate, real-time data on market trends and competitor pricing. The retailer aimed to leverage this data to maintain competitiveness across various categories and essential products. Ensuring accuracy and completeness of data was key for the retailer to achieve the desired outcome.

The retailer faced several challenges:

• Lack of Market Visibility: Without a clear view of competitor pricing and promotions across regions and categories, the retailer struggled to establish its brand position and seize growth opportunities.
• Data Quality Issues: Inconsistent pricing data led to errors, impacting profitability and customer trust. Ensuring the accuracy of this data was crucial for maintaining competitiveness.
• Slow Data Collection: Timely insights were essential, but the existing data collection process was too slow, limiting the retailer’s ability to make proactive pricing decisions.

Wiser’s Retail Intelligence Solution

To address these challenges, Wiser implemented its Retail Intelligence solution, providing the manufacturer with comprehensive and actionable insights into pricing trends, promotions and competitor activities. Key features, benefits, and results include:

• Comprehensive Data Collection: Wiser’s platform gathered an impressive 15,400 data points weekly across multiple categories. This vast amount of data allowed the retailer to identify patterns, adjust strategies in real-time, and maintain a competitive edge in the market by closely monitoring price fluctuations and promotions.
• Visit Customization: The retailer benefited from a customized visit schedule for specific and cross-category SKUs, allowing resources to be strategically allocated to high-impact items and categories. This customization improved focus on priority products, ensuring more efficient data collection and resource allocation.
• Market Expansion: Leveraging insights from Wiser’s data, the retailer successfully opened over 10 new locations in a new market since 2022, expanding their market share and strengthening brand presence. This data-driven approach provided confidence in selecting new market opportunities.

Looking Ahead

With Wiser’s ongoing support, this grocery retailer plans to further refine its pricing strategy by expanding the data collection scope and customizing insights to drive targeted decisions. This partnership ensures the retailer is well-equipped to respond swiftly to market changes, optimize pricing strategies, and sustain a competitive position across its growing network of stores.