You need to survey your competition's prices. It's a fact and everybody does it. However, what can be an extremely tedious process is made easier with DROSTE's Shopping Basket Analyzer.
EASY TO FOLLOW FORMAT
SBA will print out a survey book of your top products to allow for easy data entry when you're in the field recording prices. Then, when you're ready to enter the data into your Item File Database, the format on the screen follows the same format as the book, making it easy to go down the list.
Once you've input the numbers, SBA will generate a cost comparison report, showing your prices right next to your competitors so you can quickly see how you match up. And any pricing changes you make are automatically updated in your Item File Database and your POS, making changes instantaneous.
SO YOU WANT TO...
Now that you have your competitor's pricing, the question is what to do with it. With SBA you can implement theoretical changes (accurate data without the commitment) and track the results of potential pricing changes or the degree of product movement. As an example: Your competitor is selling watermelon at $1.00 per pound. You want to sell it for $0.90 per pound. You can input that number into the SBA and the system will calculate your profits and product movement so you can see, with real dollars and figures, what the impact of such a price change would be.
It's another level of consulting, one of DROSTE's trademark services.