Grocery tech provider Storewise has introduced a new pricing tool for independent grocers to help them compete against big-box stores.
Software provider Storewise, which specializes in solutions for independent grocers, is out with a new competitive pricing tool. The company’s new PriceFind platform provides indies with instant information on competitors’ pricing on hundreds of key value items (KVIs).
The additional feature comes at a time of concurrent price consciousness among consumers and tightening competition across retail channels. According to Storewise, PriceFind delivers an unprecedented level of hyperlocal intelligence on up to 500 items at three competing locations in their area, including big-box stores, in one report.
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Updated weekly and now available at special promotional rate, the pricing report is customizable to locally-specific KVIs and is audited both in-store and online. Storewise is also integrating competitive pricing intelligence into its signature Price Manager solution to enhance actionable data for its customers.
“We’re excited to arm independent grocers with this next level of intel on their competitors. In the battle against big-box, this kind of transparency provides an undeniable advantage. A grocer can type in their store address and instantly view prices for the competitive store next door,” said Christopher Greco, Storewise president and CEO.
One retail customer who used the tool in a test rollout said that it helped them make informed decisions. “Without PriceFind at our fingertips, deep competitive monitoring isn’t feasible. I’ll check competitors’ prices manually but to get the hundreds of items that PriceFind monitors would take days,” reported Brent Thaxton, president of Thaxton's Market Inc. in Las Animas, Colo.
Earlier this summer, Storewise acquired MarginMAX, a software company that enables independet grocers to manage direct store delivery and wholesaler items through cloud-based applications.
Based in Kansas City, Kan., Storewise serves more than 900 retail locations around the country and recently received a fresh investment from PE firm Nexa Equity. PriceFind is the first new product launched since that partnership and backing.