Irish e-commerce website saves money and grows sales with new pricing intelligence service

Irish e-commerce website saves money and grows sales with new pricing intelligence service

Office1web.ie is a new and fast growing Irish based online office supplies company and part of Office 1 Superstores International that is saving €2,000 (£1,718) a month with Profitero.

Prior to signing up to Profitero price monitoring service Office1Web monitored competitor prices of their range of products manually. This proved to be very time consuming and expensive.

As the e-retailer has continued to grow, the team realised that they needed a more reliable and accurate monitoring system for comparing their prices with those of their competitors.

Tried and tested solution

Office1Web director, Mark Murphy first found Profitero by searching for providers of competitor monitoring solutions on Google. Office1Web tried another competitor price monitoring service for a month but were not satisfied with the results.

Murphy then contacted Profitero and after a prompt setup of a new account with Profitero, Office1Web had access to much needed competitor insights. He commented: “We were price comparing 1,000 products once a week, which took one person a full day. Now we price compare over 2,000 products, checked daily and all we have to do is analyse the information given to us by Profitero.”

Murphy estimates that Profitero saves Office1Web now more than €2,000 monthly in costs for competitor monitoring. Despite not having exact data, he was also confident that Profitero’s service is one of several important factors influencing the continuous growth of Office1Web online sales.

Benefits the company has gained since taking on the Profitero service include daily updated competitors’ prices and their stock information and a view of common products stocked by their competitors. The service also provides alerts when competitors change their prices, enabling it to quickly react to competitor’s price changes. And it enables access to the data in a clear and concise format online and the ability to easily export the data to Excel, when needed.

Backing up price promise

Alan McGovern, fellow Office1Web director, added: “We provide our customers with a price promise. This guarantees each customer that they are getting the best offer because if they find the same product as ours on a competitor’s site at a lower price, we promise to match it. Using Profitero we can now 100% guarantee this as we constantly compare our prices and can be sure that we provide the best price to our customers!”

Profitero is also an award winning Irish start-up: winner of Seedcamp 2010, Innovation Cubed 2010 and a finalist of WebSummit 2010. Profitero is supported by Enterprise Ireland as a high Potential Start-up and has received investments in the UK from Seedcamp and angel investor Simon Murdoch, former senior vice president of Amazon.co.uk and now portfolio director at London-based Octopus Ventures.