GfK and Minderest in Pricing Intelligence Partnership

GfK and price intelligence company Minderest have partnered to provide retailers and manufacturers with a 'comprehensive overview' of current prices in their markets, as well as recommendations for price adjustments, using the latter firm's smart updating online shelf price information.

Founded in 2012, Minderest works with retailers who need access to their competitors' prices, and with manufacturers who want to check if their pricing strategy is being adhered to across their distribution channel. Through the partnership, GfK now offers updates of price information for retailers and manufacturers across industries, with responsive update frequencies based on the number of price changes per product category.

With this information, companies can track competitors' price points, in which product categories' promotions are currently being run, and which products are not available at a given point of sale. This can form the basis of decisions on tactical pricing or the integration of promotions, allowing companies to manually adjust their pricing or enable automated price adjustments within defined parameters.

GfK Vice President Global Retail Michael McLaughlin (pictured) comments: 'The combination of daily prices with longer-term insights into consumer-accepted retail prices offers both retailers and manufacturers a whole new depth of data for tactical decision-making. It's also a key consideration for sales and margin development. With our new partner Minderest, we will provide unrivalled pricing insights'.

Web sites: www.gfk.com and www.minderest.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.