Torba, a prominent grocery chain in western Ukraine, has chosen Competera's AI-powered Pricing Platform to transform its pricing strategy and enhance operational efficiency. This strategic partnership aims to strengthen Torba's market position and improve customer experience across its network of approximately 50 stores.
Despite its strong presence in western Ukraine, Torba faced several challenges in its pricing processes. These included being perceived as too expensive by consumers, inadvertently giving competitors an advantage, and losing margin potential due to an inflexible pricing process. Additionally, the company was allocating excessive resources to pricing operations, hindering overall efficiency.
To address these challenges, Torba will implement Competera's Pricing Platform. This cutting-edge solution revolutionizes retail pricing by delivering real-time, customer-centric pricing optimization across all products and sales channels. Leveraging 20+ demand drivers, the platform will enable Torba to build a strong price perception that matches their in-store experience, optimize prices to drive revenue growth and increase purchases, and streamline their pricing process, saving up to 80% of valuable time.
Commenting on Torba's decision to partner with Competera, Yulia Marchenko, Torba’s Operational Director, commented: “We chose Competera because we are confident that they will help us optimize pricing and increase overall revenue.”
This collaboration marks a significant step in Torba's efforts to enhance its competitive edge and operational efficiency in the dynamic grocery retail landscape. By leveraging Competera's advanced technology, Torba will be able to make data-driven pricing decisions, strategically adjust prices to boost margins, and create an enhanced shopping experience for its customers.
Alexander Galkin, Founder and CEO of Competera, shared his thoughts on the partnership: “Torba's commitment to enhancing their customers' experience aligns perfectly with our mission. By implementing our AI-powered Pricing Platform, Torba is taking a bold step towards reshaping price perception while optimizing their bottom line. This collaboration showcases how regional grocery chains can leverage advanced technology to compete effectively in today's dynamic retail landscape. We're excited to see how Torba will use our platform to create value for their customers and shareholders alike.”
The successful implementation of this project will be led in close collaboration between Competera and its implementation partner C4R. This partnership ensures that Torba will receive not only cutting-edge pricing technology but also expert guidance throughout the implementation process.
