Wilko, a leading UK-based retail chain specializing in DIY and home goods, has chosen Competera as its new competitive data provider. This strategic partnership aims to significantly improve Wilko's pricing capabilities and market insights, leveraging Competera's advanced Competitive Data solution.
With a rich history spanning over 90 years, Wilko has grown from a single hardware store in 1930 to a nationwide presence with a robust online marketplace. As Wilko's current vendor contract came to an end in February 2024, the company sought a more sophisticated solution to address critical challenges in their pricing strategy. These challenges included a low match rate for branded products, an incomplete market view, and a lack of confidence in their pricing data, which led to potential revenue and margin losses.
To overcome these obstacles and achieve its strategic goals, Wilko will implement Competera's Competitive Data solution. This implementation will cover 32,004 products across 14 competitors, with Competera delivering 60,000 product matches per month. The partnership aims to significantly increase Wilko's match rate, providing a comprehensive understanding of the competitive landscape. Competera's solution will streamline Wilko's pricing operations, reduce manual interventions, and provide actionable insights for price execution. Additionally, the transparent capturing process will ensure up-to-date and complete information, enabling Wilko to make informed pricing decisions with confidence.
Alex Galkin, CEO of Competera, expressed his enthusiasm about the new partnership: "We are thrilled to collaborate with Wilko, a brand that has been trusted by UK families for generations. Our Competitive Data solution will empower Wilko with unparalleled market insights, enabling them to make data-driven pricing decisions that balance value to their customers with profitability. This partnership underscores our commitment to driving retail innovation and supporting businesses in their digital transformation journey."
This collaboration marks a significant step in Wilko's ongoing efforts to enhance its pricing strategy and maintain its competitive edge in the rapidly evolving retail landscape. As Wilko continues to adapt to changing market conditions and customer needs, Competera remains a crucial partner in their pricing strategy evolution, ensuring that customers benefit from fair and competitive pricing across Wilko's extensive product range.
