How does Big W stay competitive on the retail market? Price2Spy knows the answer!
The Internet is definitely changing the game, and question number one in the business world is – are you keeping up or being left behind? A retailer who anticipated this trend even before this question was asked is the Australian retailer Big W. Big W represents a true success story. They’ve come a long way since their first opened store in New South Wales in 1964 – today, almost 200 stores are operating across Australia.
Just imagine: every month, as many as 11 million people visit the Big W website – almost half the Australian population. Shoppers go there to find a broad range of quality general merchandise products at low prices. When we say a broad range of products, we literally mean that – from clothing, shoes, furniture, electronics, pet food, cleaning items, party goods, toys, and books, everything can be found there.
As good as all of this sounds, it’s not easy to remain competitive in such fierce competition.
Big W's Key Challenges
- Very competitive market – since the number of retailers is growing almost on a daily basis, this is a very common issue in this industry
- Frequent price and assortment changes – when a client is so popular among users, changes in assortment and in price are very common
- A large scope of products to be monitored across very different product categories – it’s great when you can offer a variety of products, but at the same time problems such as this one appears on a regular basis
- Monitoring competitor websites for different product categories – if it’s difficult to keep track of all your own activities, you can imagine how difficult it was for Big W to do the same process for their competitors as well
As the differences between company offerings grow narrower, a business’s market awareness can make or break a sale. Therefore, Big W decided to seek solutions that Price2Spy can offer.
Price2Spy's Given Solutions
- Premium account - best suited for such a large retailer demanding scalable monitoring and advanced control over its account
- Custom price and availability monitoring – this was one of the key points. Big W demanded thorough competitor monitoring, aiming to set ideal pricing strategies for its products based on competitors and market conditions
- Daily Alert emails - very convenient when listing all price/availability changes detected on the competitive market
- Price2Spy Reports - all the information gathered, as raw data, would not be as useful as when sorted and displayed as valuable insights via custom reports
It is a huge responsibility when a client like Big W puts its trust in you. Therefore, when we say that in Price2Spy the client comes first, we actually mean it, and we have happy clients to validate:
“Price2Spy’s flexibility allowed us to really focus on the most important changes on the market and made the monitoring process a lot easier. The reporting mechanism is quite powerful and it helps us get an up-to-date overview of the market, anytime. And last, but not least, they have highly efficient support which is a pleasure to work with.” – Jay Matutina, Senior Pricing Analyst