U.K.-based supermarket chain Waitrose has selected Profitero as the data provider for its Brand Price Match initiative, in which the grocer pledges to match the price of branded groceries on the shelves of Tesco as it seeks to offer better value without compromising on quality.
“Brand Price Match and sharper own-label prices continue to change customers’ views on Waitrose’s price position and attract more people to shop with us each week,” said Jeremy Pattison, manager, pricing and promotions at Waitrose. “Profitero provides us with the data we require to support our pricing strategy, helping us to continue to deliver the best possible value to our shoppers."
Profitero was developed to provide retailers with a high match rate for branded products, as well as match and normalize weight and volume for private-label competitor matches at scale, so that retailers can benchmark their private label products against any competitor. Profitero said it’s the only service to offer automated private-label matching for the FMCG market in the UK.
“Our advanced pricing technology will enable Waitrose to remain competitive on price,” said Volodymyr Pigrukh, CEO and co-founder of Profitero. “In selecting Profitero, Waitrose has recognized that our technology is the most scalable solution on the market, delivering the highest match rates and accuracy in the industry.”
Profitero is a next-generation pricing intelligence service for retailers and manufacturers, monitoring over 50 million products across 4,000 websites daily. In addition to Waitrose, its clients include Ocado, Tesco, Sonae Group and Walmart-owned Sam’s Club.