Company updates and new feature announcements
Introducing automated price checks!
1 minute read
With rising commodity costs and widespread inflation, every manufacturer has "price" top of mind. But getting pricing data isn’t easy.
Syndicated data services give you the ability to track price over time and across a massive database of retailers and geographies. However, instead of seeing the actual prices (e.g. $6.99, $7.49, $7.99, $7.99, etc.), you just get a weighted mean (e.g. $7.63) over a 4 week period... often at the GB+MM level.
Without knowing the actual retailers, locations, or dates, the data has limited utility. For Revenue Growth Management teams navigating an increasingly dynamic retail environment, waiting 4 weeks just to get an "average" is slow and awkward.
More and more field sales and retail merchandising teams are being sent to the store to get actual prices but that takes time, yields a small sample size, is prone to human error, is often clustered around urban areas, and can be quite expensive.
Today, we’re excited to announce a new solution that leverages Shelfgram’s AI to automate price checks. Shelfgram customers can now filter and export actual prices to Excel whenever they want! We’ve standardized the data format and even included a cropped photo reference behind every price check.
We’ve already started working with Revenue Growth Management teams across a number of manufacturers to standardize pricing reports by integrating Shelfgram data into internal BI tools. They're spending less time cleaning their data and more time analyzing it to make smarter retail pricing decisions.
If you’re interested in seeing a demo, give us a shout!