About In the dynamic landscape of the electronics market, Scandinavian Photo emerges as a titan with a revenue exceeding €100 million, serving both B2B and B2C segments across the Nordics and broader European territories. Their clients range from new creators, enthusiasts and influencers to professionals, companies and production companies.
Known as the "Media Markt of the Nordics" to those outside its primary market, the company has established a formidable presence through a unique blend of online platforms and brick-and-mortar stores. Scandinavian Photo has grown to become the Nordic region's leading player in photography, video and audio. What started with a main focus on cameras and photography has broadened to a wide range of technology products combined with inspiration and education in the form of various events. Scandinavian Photo has online sales in Sweden, Norway, Finland, Denmark , Europe, and stores in Stockholm, Oslo, Copenhagen, Helsinki, Malmö and Borås.
Case video: Scandinavian Photo about Pricing
Here are some of the main challenges we faced prior to using SYMSON.
- Pricing with ERP system leading to manual work and errors
We faced challenges with our ERP system, which couldn’t support multiple pricing strategies or integrate competitor pricing. As a result, we had to export our pricing data to Excel weekly. This created a significant amount of manual work for our team, leading to higher costs and increased risk of errors and inaccuracies while trying to keep our prices aligned with market conditions.
- Difficulty in Managing Separate B2B and B2C Pricing Strategies
Managing distinct pricing logic for B2B and B2C markets was challenging, requiring manual adjustments and leading to inconsistent pricing strategies across customer segments.
- Inability to implement smart pricing for specific brands or product groups
We were unable to optimise pricing for key brands or product groups by using tailored strategies. This limitation prevented us from capitalising on opportunities to increase margins, especially for products with lower price sensitivity, where the right pricing approach could have made a significant difference.
- Challenges with online competitor market pricing
We faced difficulties in navigating online price competition. Identifying which products to adjust and how to follow competitor pricing without fully engaging in a price war was a constant challenge. This resulted in excessive manual work and an overall pricing strategy that failed to deliver the desired outcomes.
- Consistency and executing pricing strategies across multiple countries
Since we operate across multiple countries, regions, stores and sales channels, consistency in our pricing strategy was proving to be a challenge. We needed unique pricing strategies for each country and region due to changing market conditions, customer behaviour, and variables such as taxes or shipping. Our ERP system wasn’t capable of accounting for these variables. We also needed to implement consistency across our products in-store and online. Too many discrepancies in our products' prices online and in-store could lead to confusion and a lack of trust from our customers.
- Multi-Country Pricing Legalities
Every country that we operate in has their own pricing rules and laws to protect the consumer. The European Union also has their own set of regulations across the region. It was proving difficult to keep track of and implement all of these guidelines manually. Not complying with the law could lead to fines and other consequences which could cost the company. It was extremely important that we stay legally compliant with multiple countries' pricing regulations without any room for error.
SYMSON had the capabilities and experience to handle the complexities of our pricing process and operations.
We chose Symson because it automated our complex pricing processes with ease and had an intuitive interface that our team loved. Their transparency in explaining price recommendations gave us confidence in the data. The interactive learning loop allowed us to quickly adapt strategies, making us more data-driven and efficient.
Marcelo Lazo de la Vega C
Purchase Controller
SYMSON was able to help Scandinavian Photo with key pricing process improvements such as:
- We Freed Up 99% of Our Pricing Team's Time and Boosted Efficiency
By automating our complex pricing processes with a single tool, we’ve saved significant time and effort. We’ve reduced 99% of the time previously spent on price management by automating pricing logic, allowing our team to focus on analysing data, developing new pricing strategies, and iterating on existing ones.
- Multi-Country/Region Pricing Strategies
We can implement multiple pricing strategies across different product groups, regions, and sales channels.
- Ensuring Legal Compliance with European Pricing Directives
We can easily adhere to European legal directives that prevent dishonest pricing practices, such as displaying inflated prices for discounts. The software allows us to automatically track and display the lowest price point for each product in the last 30 days, simplifying compliance and ensuring our pricing strategy remains both transparent and legally compliant.
- Optimized Pricing for Specific Brands and Product Groups
By implementing smart pricing for key brands, KVI items, and ABC products, we now optimise margins across low- and high-margin categories. Tailored strategies for products with lower price sensitivity help us capture missed opportunities and maximise profitability.
- Pricing Consistency and Enhanced Competitor Pricing for Both Online and In-Store
We can now maintain pricing consistency across physical stores, online webshops, and shopping platforms. Additionally, by monitoring competitor prices, we can adjust our strategy accordingly, responding accurately to market changes across our full product portfolio. This has streamlined manual work and improved pricing effectiveness without engaging in price wars.
- Campaign Functionality and Dynamic Pricing
We can now create and automate promotions throughout the year in different countries, customised to seasonality, local celebrations, and holidays. Additionally, with full API connectivity, we can quickly respond to market changes, adjusting prices every five minutes to remain competitive.
- Ability to handle B2B and B2C Pricing in a single system
We can implement business rules and smart segmentation for both B2B and B2C pricing logic, ensuring targeted and strategic pricing in one single tool.
Scandinavian Photo Today
Scandinavian Photo has automated 99% of their pricing tasks with SYMSON, freeing their team to focus on strategy and data analysis. They now manage pricing across multiple countries and channels, ensuring consistency and compliance with European laws. With optimised pricing for key brands, they’ve increased profitability without engaging in price wars. Automated campaigns and real-time adjustments keep them competitive, and their system handles both B2B and B2C pricing seamlessly in one tool.
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!
