Spinex Resources is a grocery price tracker for hypermarkets, shopping malls and retail outlets. Besides tracking of grocery price, we also provide the following services:   • Shoppers behavior study >> • Shoppers spending patterns study >> • Mystery Shoppers >> • Store check-out survey >> • Store leaflet survey >> • Store image survey >> • Others

 

UTILIZING GROCERY PRICE CHECKING IN RETAILING BUSINESS

Grocery price checking is the process of collecting and analyzing information or data on groceries, and the business practices that surround them ie promotions and free gifts plus the analysis of the data to make marketing strategies and decision. Grocery price checking is needed in order to determine the suitability of the product pricing to fulfill grocers' acceptable price range. The ultimate goal of Grocery Price Checking is to help the retailing business become consumer centric.   Grocery Price Checking must be conducted on a regular interval   (1)  Firstly, Grocery Price Checking is conducted to determine whether the price imposed       meets the expectation of a grocer (2)  Secondly, it is used to determine how the retailing industry does pricing strategies          and identical standard of business practices      KEY BENEFITS OF GROCERY PRICE CHECKING   (1)    Helps to determine pricing strategies and benchmarking (2)    Provide insights regarding potential price fluctuations and price expectations (3)    Serve as the information platform for keeping abreast of the latest pricing, promotions         and market trends

 
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KEY EMPHASIS OF GROCERY PRICE CHECKING

(1)  Accuracy   Two main aspects of ACCURACY (a)  Sighting the right grocery Pricing and packing size (b)  Identifying whether the product item is a Promotional or Non-Promotional item     (2)  Completeness   Completeness of price checking refers to a 100% identification on items displayed on the shelves. Usually omissions happen due to the different classification of products' categories used by the retailers.     (3)   Prompt Delivery   As grocery prices are constantly moving and affected by seasonal factor or whether it is a weekend or weekday sales. The price checking exercise SHOULD BE COMPLETED within the time frame determined.     (4)   Commitment   We are committed to ensure ACCURACY, COMPLETENESS and PROMPT DELIVERY of our work. An efficiency report will be prepared to our client upon completion of the Price Checking exercise.

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OUR PAST RECORD
 
We achieved 92% accuracy rate in price check for 36,000 products across 3 hypermarkets within 7 days. Shortfalls in the achievement are due to:
(1) Products not sold,
(2) Capacity not matched and
(3) Out-of-stock
 
CONTACT INFO
 
For more info, do email us at: tracker@spinexresources.com

 





 

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