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If you are not a part of the IT industry, being innovative and creative might seem like a difficult task. But not for The Cookware Company. In 2007, this Belgian company was the first to introduce PFAS-free ceramic non-stick cookware by presenting their original brand GreenPan.
Soon enough, cooking enthusiasts from all over the world were taken away by a whole new option when it comes to healthy cooking. Carried by GreenPan’s success, The Cookware Company has introduced and acquired numerous and high standing brands, such as GreenLife, Vita+Verde, GreenChef, Gero, BK Cookware, Van Kempen & Begeer, Keltum, Kochstar, just to name a few.
At the same time, this means that maintaining a leading position in the market has become quite more demanding. The help of a price monitoring tool such as Price2Spy became necessary.
Today The Cookware Company’s brands can be found in retail, grocery, mass market, and specialty stores as well as on television shopping channels and retail websites in over 100 countries around the world. Understandably, such success brings some challenges as well:
- The Cookware Company and its brands are active on a number of markets, each with different requirements and competitors;
- Monitoring prices of cookware products in several countries – with the competition in the cookware market being fierce, pricing is one of the key factors for customers to make their final purchase decision;
- Selling through resellers and selling directly to consumers requires a different approach – the main goal for this client was to position themselves at a price level that represents their premium quality at a fair price. However, BK and quality brands that have a certain perceived value should be reflected in their prices as well;
- Manual price tracking was no longer an option – gathering data for their product development and marketing department by tracking prices manually is a lot of work, especially for several brands in several countries.
As you can see, not all of these challenges are pricing-related. Most of them are logical consequences of operating in a competitive market. However, having a tool like Price2Spy helps clients to set the right pricing strategy.
- Multiple users (6) – each with a different role;
- Since the client is present in various countries, their products also needed to be separated in the same manner. They are monitoring prices for two of their brands (BK and GreenPan) in five countries. BK only in The Netherlands, whilst GreenPan in The Netherlands, United Kingdom, Belgium, France, and Germany;
- Another important thing to point out is the fact that The Cookware Company has separate online shops for BK and GreenPan. Luckily, we offer easy integration of your online store with Price2Spy;
- After discussing their needs, our Price2Spy team suggested that price monitoring once a day would be the most suitable option for The Cookware Company;
Price2Spy allows getting full transparency on the pricing landscape for our key brands in the A-countries. We can make usage of several analytical pricing reports that we didn’t have in the past. The dashboards cover general pricing dynamics which allows us to use different pricing strategies. By this, we can achieve a successful price monitoring strategy and make important pricing decisions on a daily basis based on pricing levels of competition. – Vincent van de Poll
Fierce competition with many market participants can lead to overly price pressure. Moreover, managing such a large business does not come with price problems only. If the client focuses on sales and gaining market share while losing the focus on the customer’s satisfaction, they would be jeopardizing long-term value. Therefore, having the help of an experienced price monitoring tool such as Price2Spy, gave this client the opportunity to focus on other equally important business aspects.
Are you also struggling to strike a balance between price and quality? Say goodbye to endless hours of this tedious and manual work! Price2Spy is here to help! All you have to do is to register for your 30-days free trial and make the most out of our features!