OTTAWA, Canada--(BUSINESS WIRE)--360pi today announced an opportunity for retailers and brands to quickly and easily assess their existing product and price intelligence solution, along with their own relative competitiveness. For a nominal fee, retailers and brands are challenged to benchmark their existing product and price intelligence solution against 360pi with a simple 100,000 SKU test with results delivered in one week. 360pi will deliver more competitive prices on more products guaranteed, or the company will refund the test fee. As a reference point, Ace Hardware reported a 200% improvement over their incumbent provider, and other 360pi customers have reported similar results.
360pi delivers the industry’s best quality, innovation, and service, coupled with the real value delivered by its product and price intelligence. For example, one leading mass merchandise retailer used 360pi’s solution to increase the pricing on its premium private label ranges by 300 basis points, with no loss in volume - resulting in over $3M in additional gross margin. In another case, a market-leading consumer electronics retailer increased its percentage of “right-priced” products from 40% to 98% over a two-week period, increasing sales when they were over-priced and stemming margin losses when they were underpriced.
“When a new retailer or brand starts working with 360pi, we consistently receive feedback that 360pi delivered significantly more and higher quality results than their incumbent provider,” stated Alexander Rink, CEO. “For retailers and brands, more products + more prices = more profits.”
360pi derives profitable insights from product and pricing big data to help leading omnichannel retailers, etailers, and brand manufacturers compete and win with shoppers. 360pi’s customer base accounts for over $US200 billion in annual product sales and includes Ace Hardware, Build.com, and Overstock.com, along with several Fortune 500 consumer products companies. With the majority of in-store purchases being influenced online, 360pi helps retailers and brands successfully navigate the multi-channel landscape with real-time insight into who is selling what, where, when, why and for how much. Ultimately, 360pi customers make smarter decisions faster to drive increased revenues and margins across all channels.