Milk and Eggs are critical KVIs for retailers to get right on pricing. Retailers compete on these items fiercely – to the point of being willing to lose millions of dollars on the items in order to be the lowest price in the market.
This retailer was quite advanced at collecting online data. Additionally, they would send store managers into nearby competitive stores to monitor activity when necessary. However, they could not get all of the data they wanted or as frequently as they needed to enable their competitive strategy. The lack of data was causing them to keep prices too low for too long after Walmart moved prices. This was causing large, unnecessary losses. With the right data, this retailer could be more responsive and adjust prices more rapidly ensuring they wouldn’t forgo pricing opportunities.
Leveraging Datasembly’s daily KVI data for milk and eggs from the specific locations in the regions they competed, this retailer was now able to more quickly react to Walmart’s pricing adjustments. Tracking these price changes more frequently and rapidly adjusting to the changes in market, this retailer was able to fully activate their strategy and drive new revenue by keeping a tight tolerance on pricing adjustments.