Agency Partner Drives Retail Client’s Revenue Growth by 26%

The retailer accepted our price change recommendations once every 30 days for 2 years. Sales for updated SKUs grew 36% on average in the 10 days following each refresh, with consistently declining growth observed in days 10 through 30 before the next refresh. This proved the immediate impact of our recommendations, and the value of more frequent price changes.

In Revenue of repriced product (within 10 days)

YoY Revenue Growth

Increase in SKUs with sales

INDUSTRY: Sporting Goods

The retailer has been servicing sports and fishing enthusiasts for over 40 years. With millions of worldwide customers, it strives to meet and exceed customer expectations.

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Challenges

Fierce market competition and competitor price volatility resulting in slowed growth rate
Prior vendor unable to provide accurate data at the variant level
Amazon pulling shoppers from Google reducing the pool of available buyers
Competitors violating MAP, thus increasing unhealthy competition

GrowByData offered an easy-to-use yet sophisticated solution

We started by helping our agency partner by delivering accurate data on a broader portion of their client’s catalog than their previous vendor. Given the high prevalence of variants in their catalog, the combination of Artificial Intelligence and Human interaction was needed…

To generate meaningful analysis, we integrated our pricing platform with their website, gaining valuable sales data to cross reference against the new pricing data.
To work with our agency partner to help them decide which competitors they wanted to use for a benchmark and then collaborated to create highly custom re-pricing rules with a simple workflow to update prices.
To collaborate on customized pricing rules While re-pricing monthly, the retailer gained value from insightful competitor reports and alerts (like MAP violations) which the agency.

Fun facts

On 1,828 SKUs that the retailer consistently accepted our price recommendations for over 2 years, sales sky-rocketed 59%. In contrast, on 2,904 SKUs where the retailer utilized our insights but did not precisely follow our recommendation, sales grew 30%.