Lidl and Aldi Enter Convenience Store Market – a New Threat for Retailers?

Both Aldi and Lidl have announced that they will be opening up convenience stores to compete with  Tesco Metro and Sainsbury Local which is big news in the convenience store market.

Aldi trialled their first store in Kilburn which has proved to be a great success, and Lidl is to follow with a store in Kentish town. The convenience store market has been one of the few growth areas for the supermarkets, with all keen to continue expansion too.

However, this could come to a pre-mature end with the emergence of the discounters into this market space. How will this affect the current crop of independents and retail outlets already there, and in turn affect the larger wholesalers too?

With the emergence of cheaper goods from Aldi and Lidl in a convenient format, this will have an impact on the current crop of Sainsbury and Tesco convenience stores, as well as all other independents. Customers are going for convenience and a cheaper price, and hence the new Lidl and Aldi stores will experience more customers which will be taken at the expense of the existing independents and supermarket chains.

As the independents buy their goods at the large wholesalers e.g. Bestway and Booker then the sales of these wholesalers could drop too, as they are dependent on the convenience store trade. Those wholesalers who have a large food service offering will see less of an impact than those who rely on convenience stores.

It’s interesting times for the retail and wholesale market and there could be some major changes happening over the next ten years in this market place.

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ITP Analytics Launch

After many months of research, programming and data gathering, we launched the Improve That Price Analytics online reports. The report provides users with live data on the Foodservice Wholesale and Cash & Cary market. These reports can be viewed by category, brand or type. The data can also be filtered to show only the Price Marked, Promotions or the Multi-buys. The site also features the price history of products, is very user friendly and you can have a two weeks free trial at  improvethatprice.com/analytics. For further information email Faisal on faisal@improvethatprice.com.

Improve That Price Analytics

This week, after many months of research, programming and data gathering, we are launching the Improve That Price Analytics online reports.

The report provides users with live data on the Foodservice Wholesale and Cash & Cary market. These reports can be viewed by category, brand or type. The data can also be filtered to show only the Price Marked, Promotions or the Multi-buys.

The site also features the price history of products, is very user friendly and you can have a two weeks free trial at  improvethatprice.com/analytics.

If further information is required then please email Faisal on faisal@improvethatprice.com.

 

Improve That Price, in short.

Improve That Price was launched in January 2012.

It has three directors and the current team consists of five people split into programming, marketing, finance, data management and public relations.

There are 17,128 listed products and  this number is increasing daily.

On average users can save approximately 7%.

Improve That Price will shortly be launching its Analytics tool giving live price updates on all drink products helping the food service industry and manufactures understand pricing strategies of their customers.

Users can now track their favourite products and receive email alerts whenever the price drops.

Users can also leave a review for suppliers helping others users decide who to order from.

There is currently no other price comparison site for the catering industry.

There have been several articles written about Improve That Price http://improvethatprice.com/press.php.

 

Why use Improve That Price!

We have been speaking to many users of improvethatprice.com with the aim of better understanding how and why they use the site and if they have any comments and suggestions. This feedback is crucial to continuously improve the site and the user experience.

For many users it is not just about the savings but also the reliability and stock availability of a supplier but of course the price has to be right too. For this reason we introduced the ‘Supplier Reviews’, where users write a review of the supplier and therefore help other users make a decision as to where best to buy from.

A lot of very positive feedback was given to the ‘comparison basket’ where users are able to add different products and then compare an entire basket against a range of foodservice suppliers and cash & carry’s.

Time saving was also mentioned by many as users no longer need to go through different sites to compare suppliers as all the information needed is now available in one place.

Since we introduced the ‘Price Tracker’ which sends an email alerts to users who sign up to it every time a price for a particular item drops, more people are signing up to it and the popularity is growing rapidly.

Some of the feedback we received was that there are some suppliers missing from our list and that our Cleaning & Hygiene and Packaging categories lack products for a comparison. These are issues we are aware of and are working on.

If you don’t ask (compare) you won’t know!

After discussing the title of this blog with several users of Improve That Price, it appears to be correct to say that you will only know if you ask or, in this case, compare whether or not you are given the best possible deal.

It would seem perfectly normal to ask the people you work with and supply you, and you depend on,  if you are being given the best possible prices. I understood from my discussions however that not everyone feels comfortable asking these questions especially with people they’ve had a longterm relationship with as it could appear to suggest that there was a lack of trust.

Some users felt that they preferred to avoid confrontation and just continued to pay the full price as it was the easy choice.

Improve That Price has helped businesses in many different ways and this is another example why it pays to compare.

I am frequently asked whether we will ever charge for the service we provide and I always reply the same, Improve That Price will always be free for users!

How useful is a price comparison site for a catering business?

Whether a business is new or has been trading for many years, management trying to make sure the operation runs smoothly is often to busy to ensure that the prices they are getting are the best and often rely and assume that their longterm suppliers are giving them the best deals. This, however, is not always the case and until now it has been very time consuming looking through suppliers websites or calling up when you don’t have a relationship or account with a particular supplier.

Improve That Price is the first price comparison site for the catering industry aiming to make the catering industry more transparent and reducing the time and effort it takes to compare the same products from a range of suppliers and cash & carry’s.

Improve That Price is continuously updated as prices and offers are constantly changing we search the web for the best offers for our users.

The ‘Special Offers‘ page is extremely popular and will be expanding to soon also include catering equipment, packaging and cleaning & hygiene products.
Its great to see that supply companies seem to be competing for some of the most popular products as they are becoming increasingly aware of the fact that more and more users are coming to ITP and are comparing them, unlike before, with ease.
Improve That Price is already having an effect in reducing prices for business and helping make the wholesale catering industry more transparent.
A price comparison site for the catering industry is a very useful tool to have!