It pays to compare!

As a business owner it is possible to occasionally loose sight of some areas of your business due to the fact that you rely and trust your employees to perform in the best interest of your business but, as we know, this is not always the case.

There are suppliers who you and your employees build relationships with over the years and you assume that you are being well looked after and in some cases this may be true but I know that when it comes down to my business, I want to know exactly where my money is going to and know that I am getting the best price possible.

We know what happens when one assumes!

http://www.improvethatprice.com makes comparing your suppliers as easy as possible and gives the business owner the tools to be able to achieve the best possible deal for his business. If, for example, a business owner is looking to buy Coca Cola cans, currently the most searched for and clicked product on improvethatprice.com, then there are several prices to choose from ranging from £6.59-£11.28. These are massive differences and can make a huge difference to any business. Below is a link to that page:

http://www.improvethatprice.com/product-comparison.php?ProductMasterID=13770

Improve That Price also offers a catering equipment category which is certainly not a category used daily by businesses but the savings can be substantial. From the hand stick blenders to the kitchen sink its pretty much all there.

There are several other categories worth checking out.

Will keep you posted with any new developments.

Happy saving!

Strategy through analysis

When planning ahead for your business it is crucial for to understand the pricing structures of the competition, especially for identical product lines.

At Improve That Price we are developing an analytics tool whereby a user can choose a specific product line and compare, at a glance, the pricing structures of the competition.

 

This can help in deciding on promotions and pricing products in line with other traders.

Deal or no deal: what will price-comparison do to wholesale?

The title of this blog is taken from this month’s Better Wholesaling magazine (link below) and the question really is what impact Improve That Price will have on the wholesale/retail industry or if your products are well priced why not be compared?

In the article there are wholesalers commenting about having different prices for different customers especially customers who buy in volume. It seems that some suppliers fear that Improve That Price might damage their business model of keeping the ‘special prices’ for their ‘special customers’. Bellow are three comments by wholesalers taken from the article:

  1. IT COULD ENCOURAGE CUSTOMERS TO CHERRY-PICK: Customers could be tempted to buy the cheapest product at the cheapest time, which Landmark suggests could impact margin.
  2. SAVVY RETAILERS AND FOODSERVICE OPERATORS ALREADY KNOW THEIR STUFF: Customers don’t have much time to spend on price-comparison sites, when many know the market anyway.
  3. CUSTOMERS WANT TO COMPARE MORE THAN JUST PRICE: Retailers, caterers and foodservice outlets want to compare other areas of service, such as availability and deliveries.

When Improve That Price was created it was with the SME’s in mind and if a business can ‘cherry pick’ to stay profitable then this is the right way forward. When I ran my small business, part of the regular tasks was to improve the bottom line, which one would always make time for, and when attempting to do this there are usually two options:

  1. Increase prices.
  2. Improve your COS.

When a business increases its prices usually it tends to loose a number of customers and therefore the ideal option would be to improve the cost of sales as the profit is in the buying.

It is important that a supplier has good stock availability and that deliveries are regular and on time but should any of these basic requirements be unsatisfactory then users have the ability on Improve That Price to leave feedback for the supplier in order to inform their colleagues and keep the suppliers on their toes.

Improve That Price’s aim has always been to provide the most up-to-date information as possible for the 99% of businesses that do not poses the ability to purchase in bulk or buy in volume but are limited to buying the products they need as price marked. It is in the interest of these SME’s to compare suppliers as they make up the bulk of the sales for many wholesalers.

Keep comparing, keep saving and don’t keep calm!

http://www.betterwholesaling.com/magazine/september-2013/deal-or-no-deal-what-will-price-comparison-do-to-wholesale/

If you can’t beat us join us!

18 months ago we launched Improve That Price with the aim of helping SME’s in the catering industry save money on their daily purchases.

The idea was to create a site that was simple to use, when searching for a particular product, and the results given were accurate, relevant and current.

In the catering industry, what you see is not always what you get. List prices in catalogues and on websites often offer one price but, depending on the size of your business and the relationship you have with your supplier, the prices can vary massively.

The internet is changing this and Improve That Price is at the forefront of this change by challenging the traditional business and exposing their prices. Those suppliers and wholesaler who want to be leaders in internet sales and have one price for all will surely, in time, drive down prices.

Those who are less willing to open up and have a fair pricing structure in place will eventually loose out.

There is some resistance from a few while the majority embrace the fact that there is finally someone who is challenging the non-transparent pricing policies of the catering industry.

Cash & Carry on Improve That Price

Improve That Price, launched 18 months ago, has since that first day increased its list of suppliers from 3 to 61 and the list is growing, with user numbers also increasing month on month by an average of 50%.

However, its only recently that we added Cash & Cary as we feel that if we are to give a true price comparison of the entire food/drink/catering industry then it goes without saying that Cash & Carry retailers must be included as so many of our users buy from them regularly.

Users are now able to compare the likes of Costco, Bestway and Bookers and understand, at a glance, whether its worth making that trip to the local Cash & Carry, get it delivered or preorder from the distributor and collect.

One has to take into consideration when going to a Cash & Carry additional costs and inconveniences such as: 1. the traffic, 2. travel time, 3. shopping time, 4. queuing at the till time, 5. lifting the goods from the trolley to the till and back and into the van and out. 6. fuel. I am sure there are more inconveniences but if the Cash & Carry are so much cheaper then perhaps this might be worth the effort as it is all about that bottom line and we do for our businesses whatever it takes!

We believe that even in our very traditional industry the internet is the future and when a business owner has the option to go into the stock room, scan with their Improve That Price phone app all the products they want to order for delivery and choose, via the app, the cheapest supplier for that particular order at that moment then that must be the way forward.

The industry is undoubtably moving towards the internet and I am happy that we have a small part in this change for the better.