When price monitoring online is not enough – a Field Visit provides evidence you can actually rely on.
What to Record at the Shelf
End-Caps as these will often display a different price to the main fixture. Record exact product (as displayed on the ticket), size and relevant SKU number where visible.
Photograph Evidence Systematically
It is imperative to take a wide angle shot of the shelf or display and then a close up of each individual ticket to ensure that all information is captured. The store name and date should be written in the notes and if possible a quick photo of a notepad with the store name and date written on it prior to starting the audit.
Spot Promotions Versus Everyday Prices
Use Stickers, Coloured Paper and Written Signs to Spot Promotions on Shop Shelves. A shop typically uses stickers, coloured tickets and sometimes even written signs on dump bins and near special offers on shop shelves. Note these shop promotions as temporary shop prices in your notes, so you do not confuse them with normal shop prices that you record at the shelf on a daily basis. For a Data Analysis Company take a look at https://shepper.com/.
Cross-Reference Against Online Prices
You cross reference your field data against online prices for a retailer on their website as well as on price comparison websites. The main differences tend to be around multibuys and special prices offered on certain products in individual stores, often not offered on the web.
How Often to Schedule Visits
Pricing fluctuates around promotional events.
Reliable competitor pricing intelligence is hard to get but with this process we can manage to do it.
