Some of the most popular services we offer here at UNFI Professional Services are contained in our Retail Pricing vertical. Today, we will dive a little deeper into those services and provide greater detail on how we can help your store price effectively. But first, let’s examine why a proper retail pricing strategy is so essential in the first place.
Just have a look a shopper surveys from popular supermarket chains. In any shopper survey that asks shoppers about why they value a retailer, price is usually always somewhere near the top. Retailers need to keep this in mind. It always comes down to price. Price is generally the dominant driver of sales – not across every product, but overall it is the dominant driver. It’s the dominant form of communication for a retailer to understand what the shoppers value. Shoppers will provide feedback on price before many other store attributes.
In the end, it really comes down to trust. The single most important thing a retailer can do to generate trust with their shoppers is not to try to rake them over the coals on price. Their shoppers need to know that the store is looking out for the shoppers’ best interest, and the price of items within the store is one of the most important parts of that. Fortunately, that’s where UNFI Professional Services comes in. Here’s a brief summary of some of our more popular retail pricing services.
Ending Allowance Report: Is your store tracking allowances and expiration dates by department? Certainly, that can be a very time-consuming task. Let our Ending Allowance Report take some of the stress off your shoulders.
Competitive Price Checks: Our Competitive Price Check service provides retail partners a way to keep an eye on local competitors by providing full-service price check coordination and reporting to help manage price perception among their shopper base.
DSD Retail Pricing Report: Your store gains access to a suite of retailer-specific reports including a Master Price Book, Allowance Report, and Price Change Reports. And that’s just a small part of what you’ll gain access to.
Retail pricing for grocery stores is important because it determines how much profit the store makes on each item, and helps to attract customers and compete with other stores. Setting prices too high can cause customers to shop elsewhere while setting prices too low can lead to decreased profits. Retail pricing also plays a role in determining the overall cost of living for consumers.