Volodymyr Pigrukh, CEO and co-founder, Profitero, reacts to being named the IBM Global Entrepreneur of the Year
Pricing intelligence company Profitero, which just last week won the IBM Global Entrepreneur of the Year, claims it has found flaws in Tesco’s online pricing.
Applying its competitor price monitoring technology on the Tesco website, the Irish start-up says Tesco – the world’s third-largest retailer – is showcasing incorrect claims of reduced pricing in a range of promotional offers on its site.
Based in Dublin, Profitero, which won the IBM SmartCamp London award in November, was the only Irish company competing in the 2012 IBM SmartCamp Global Final in Silicon Valley where it scooped the overall IBM Global Entrepreneur of the Year award.
Only set up in 2010, the company analyses competitor pricing data, with the aim of offering retailers new levels of insight to help them maximise profits by adjusting pricing and merchandising strategies.
Today, Profitero has given a few samples of where it believes Tesco is not monitoring the pricing for its promotions effectively:
Tesco Crème Brulee2X96g
Claim: ONLY £1 Save 89p Was £1.86
Now: £1.97
Valid until 28/2/2012
Goodfella’s Deep Pan Baked Loaded Cheese 417G
Claim: SAVE Save 68p Was £2.68
Now: £2.68
Valid until 13/2/2012
Profitero currently works with retailers and manufacturers across Europe to help them to grow sales and profit margins via its price monitoring technology. The company says it monitors 2,500 retail websites right now.
