IGM is an organisation running 5 franchise brands in the sanitary market. They operate 2 100% online e-commerce strategies: Badkamerwinkel.nl and Installatievakwinkel.nl, along with 3 brick-and-mortar retail formulas: Baderie, InstalCenter, and Bad in Beeld. In total, they manage 140 physical stores across the Netherlands.
They offer high-quality products from various well-known brands to consumers in the Dutch market.
we aim to grow together
"We were struggling to compete in a transparent market where price wars were eating into our margins. SYMSON's real-time competitor insights on our key value items allowed us to stay competitive without constantly lowering prices, which has protected our profitability."
Before partnering with Symson, we faced a series of pricing challenges that hindered our ability to remain competitive and maximize profitability. These obstacles affected our operations across various brands, SKUs, and market segments, making it difficult to maintain a consistent pricing strategy that could support both growth and margin optimization.
- Managing pricing for 5 companies and 10,000+ SKUs across both online and offline strategies
We struggled to manage pricing for over 10,000 SKUs across multiple brands, both online and offline. Maintaining consistency and competitiveness across all these channels was incredibly time-consuming and difficult.
- Looking for Advanced Pricing Expertise
We needed a more advanced pricing tool, along with expert guidance to take our pricing strategies to the next level. We knew that our current methods weren't enough to sustain growth.
- Moving Beyond Rule-Based Pricing Was Essential
Relying solely on rule-based pricing wasn’t cutting it anymore. We needed smarter, more sophisticated solutions to evolve our pricing process and keep up with a rapidly changing market.
- Struggling to Maintain Profitability and Growth
Keeping our margins strong while continuing to grow became a constant challenge. The increasing competition made it difficult to pinpoint the best pricing strategies and capitalise on market opportunities.
- Manual Pricing in Excel Limited Our Strategy
Our reliance on Excel for pricing was limiting. It slowed us down and made it tough to adapt quickly to market changes or competitor actions. This approach wasn’t enough for the level of agility we needed.
- Price Wars Were Eating Into Our Margins
Competitors using automated repricing tools pushed us into price wars, which constantly pressured our margins. Staying competitive without eroding profitability became a significant challenge as prices changed too rapidly.
- Running Promotions Without Losing Profits Was a Challenge
We wanted to run targeted promotions to increase traffic to our stores and webshops, but it was hard to find the right balance. Without clear pricing boundaries, we risked hurting our margins.
- Smart Price Adjustments to Balance Stock Levels and Maximize Margins
We’ve implemented automatic price adjustments that help us respond to stock levels in real-time. When we have excess inventory, prices are adjusted downward to encourage sales, while limited stock triggers price increases to boost margins. This dynamic pricing approach allows us to maintain profitability and optimize stock management effectively.
- Struggling to Optimise Margins with Smart Strategies
We found it difficult to set up smart pricing strategies that maximized margins for specific brands or product groups. This limited our ability to optimize prices where we knew customers were less sensitive to price changes.
- Relying on Gut Feel Instead of AI and Data
Too often, our pricing decisions were based on intuition rather than data. Without AI or algorithm-driven recommendations, we missed opportunities for smarter, optimised pricing.
- Competing in a Transparent Market Was Tough
Without real-time competitor insights or dynamic pricing, we struggled to stay competitive in a partly transparent market. We needed a way to adjust prices quickly without sacrificing margins.
- Managing Too Many Customer-Specific Prices Was a Headache
Handling too many customer-specific price lists for various construction clients became unmanageable. We lacked the tools to optimise these prices with insights like elasticity, leading to missed revenue opportunities and inefficiencies in our pricing processes.
IGM partnered with SYMSON to increase their margins by 11% using SYMSON's price elasticity algorithm and to automate their pricing processes, saving time and effort. SYMSON also helped IGM stay competitive by providing real-time competitor pricing insights and identifying margin leakages, allowing them to mitigate losses. Additionally, SYMSON enabled IGM to take a more holistic approach to pricing by integrating costs like advertising into their pricing strategy.
Automation That Fits Our Complex Pricing Needs
Symson was able to fully automate our pricing process, even within a complex multi-channel environment. The easy-to-use interface allowed our pricing team to quickly adapt, leading to more efficient daily operations and a noticeable boost in productivity.Futureproof Pricing with AI and Price Sensitivity Insights.
SYMSON was able to help IGM with key pricing process improvements such as:
- Managing Prices Across all Channels became Simple
Our pricing software helped us easily manage prices for 10,000+ SKUs across multiple brands, both online and offline. This made our pricing consistent and competitive, saving us time and effort.
- Advanced Pricing Guidance took Us to the Next Level
We found a team that provided more than just a tool—they helped us take our pricing strategies to new heights with their expert guidance. This allowed us to price smarter and more strategically.
- Smarter Pricing Logic improved Margins
Instead of relying on basic rules, we upgraded to a pricing process that uses smarter logic. This helped us optimize pricing beyond automation, boosting our profitability.
- Automated Adjustments helped us Stay Profitable
Our margins are now protected with automated adjustments that respond to market changes. This dynamic pricing approach helped us grow even in a competitive market.
- Switching from Excel to automation Freed Up Time
By automating our pricing process, we no longer depend on Excel, which limited our ability to react quickly. Now, we can adapt our pricing in real-time and focus on strategy instead.
- Better Pricing Controls stopped Margin Losses
The software allowed us to set clear pricing boundaries and avoid margin loss from promotions or price wars. We can now compete without sacrificing profits.
- Optimized Inventory Costs improved our Profitability
With automated pricing tied to stock levels, we now adjust prices efficiently. This helped us factor in rising inventory costs while still protecting our overall profitability.
- Data-Driven Pricing Strategies increased our Margins
Using smarter pricing strategies, we optimized prices for brands and product groups that were less sensitive to price changes. This helped us increase margins where it mattered most.
- AI-Driven Recommendations removed Guesswork
We moved away from relying on gut feeling to make pricing decisions. The use of AI and algorithms enabled us to implement smarter, data-driven recommendations that optimised our pricing.
- Real-Time Competitor Insights kept us Competitive
We now have the tools to monitor competitor prices in real-time and adjust dynamically. This allowed us to remain competitive without eroding our margins.
- Customer-Specific Pricing became easy to manage
Our software now simplifies the management of customer-specific pricing lists. It optimizes prices for different segments and regions, helping us unlock potential revenue we previously missed.
Do you want a free demo to try how SYMSON can help your business with margin improvement or pricing management? Do you want to learn more? Schedule a call with a consultant and book a 20 minute brainstorm session!
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