Media Cube’s Profitero to target Irish online retail market


18 Apr 2011

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Further to releasing an infographic based on its research of 17,696 UK retailers’ prices, Profitero, based in the incubation centre Media Cube, is to go after the Irish market.

Profitero is a company that had been recognised as “one to watch” from its start-up phase. It was one of the winners of the European Seedcamp 2010 competition and the winner of Irish Innovation Cubed 2010 award.

Competitor monitoring, which includes tracking competitors’ prices, stock availability, and new and delisted products, is a key element in successful price management for online and offline retailers. It is also a time-consuming task.

Profitero offers a web service which it claims solves this problem in minutes. When a retailer is able to view a rival’s prices it allows them to formulate better offers to win back the consumer almost immediately, the company says.

It also offers an alerts service that informs retailers when their prices are too low or too high. This data-driven insight gives retailers the opportunity to react to competitive price changes as they happen and to formulate better offers to win back the consumer almost immediately.

“With over 40m internet shoppers in the UK alone, over 30m of these consumers shop based on the best price offered to them. Profitero have researched how UK online retailers rank by price in the most popular categories. These categories researched include ‘DIY Car and Garden’, ‘Sound and Vision’ and ‘Home Electrical’,” said Volodymyr Pigrukh, CEO of Profitero.

“As the brighter, longer evenings and DIY season are upon us, UK consumers may be interested in Profitero’s findings that out of the retailers researched, Asda is the cheapest for ‘DIY Car and Garden’ category. However, within the categories of ‘Home Electrical’ and ‘PC and Gaming’, Amazon and Dixons are the cheapest online retailers from the sample to shop.

“There is a definite need for Profitero in the Irish retail market. Irish consumers are more budget-and value-conscious than ever before and we aim to capture that data so that the Irish shopper will be informed of their options before they buy.”

Article courtesy of Bizstartup.ie

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