Price Monitoring | 4Service Group

Price Monitoring

Price monitoring (retail monitoring) is the analysis of the competitors’ prices with the aim of optimizing one´s own pricing policy. Price Monitoring is carried out by a team of qualified staff auditors in a short amount of time, which allowing you to quickly respond to the changes in the competitors’ prices.

Price Monitoring in retail outlets is carried out in accordance to the scenario of the closed checks (hidden checks). It is carried out in 3 stages:

1. Pre-project analysis:

  • A study of the price and product policy of the customer’s company, features of the business and industry;
  • training, testing and certification of auditors;
  • setup and preparation of software.

2. Field work:

  • visits to retail outlets.

3. Reporting:

  • analytical online reports on in the personal accounts of the company;
  • photo report, PPT report, excel report in the section of settlement type, chain name, outlet address.

Key indicators and monitoring criteria

All data is compiled inn one interface including: the : name of the product and brand category, its price and availability of any promotional offers, facing and SKU, type of packaging and availability of promotional materials, shelf size and location of goods as well as any , other general  information.

WHAT TASKS IT SOLVESDOES IT PROVIDE?

An evaluation of the price and product policies of the competitors.  

The monitoring of promotions and special offers.

The tracking of market conditions and market situation.

A check and control of the sales points of special equipment, goods. The management of goods movement in trade

The optimization of conditions for better cooperation with suppliers, dealers.

The measuring of shelf share, assessing the location of products, availability of stock.

WHEN is Retail Monitoring carried out?

Without price monitoring, you do not know about the competitors dumping, why your goods did not sell, what prices your competitor offered or any new directions for earning.

The outlets are checked:

  • with the planned expansion of the retail chain and the opening of new outlets;
  • when new products are introduced to the market, own TM, import developments;
  • with the launch of advertising campaigns;
  • with the expansion of the product range;
  • with uneven demand;
  • before and after making strategic decisions in the company.

The organization of inspections with the company’s resources without experience and established methods entails additional risks, the need for a larger budget and greater time costs.

This service allows for the following:

  • marketing department;
  • subdivision of category management;
  • purchasing department;
  • TOP-management of the wholesale and retail trade.

WHY CHOOSE ?

  • We cover the whole territory of Ukraine, including smaller towns and villages.
  • We use specialized software: PRADATA, Shopmetrics and offer modern technical support.
  • We have experience: 17 years of expertise in Price Monitoring.
  • We offer efficiency and speed: we launch of the project and submit data from the 1st day.
  • We provide a data reliability guarantee: 100% photo-confirmation, GEO-tags.
  • We draw up online statistics tracking the project at all stages in the company´s personal account, the availability of mobile applications for customers.
  • We have a single operational center and provide uniform data for all regions.

We given only practical solutions and cases

32%

of Ukrainians buy jewelry once a year

Survey

37%

of respondents are annoyed by Viber/WhatsApp messaging

Research

-4.3

on insurance companies’ industry

NPS

30%

of Europeans are satisfied with the speed of service they receive

Brand Health

29%

of respondents are surpassed with the expectation of non-standard consultation in clothing stores

Poll

92.4%

of customer conversations are about their experience with people

Web Social Media

+30%

increase in the quality of customer service received during public holidays

Mystery Shopping

63%

of customers expect companies to offer customer support via social networks

CAWI

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