Stiho, part of DSG (The Stiho Group), has been a leading B2B wholesaler of building materials since 1926, boasting 23 branches across the Netherlands. Specializing in hard and soft wood, finished building materials, hardware, tools, and more, Stiho offers tailored advice and services for residential complexes, offices, and individual homes.
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"Centralizing our pricing across 23 wholesale locations has not only improved consistency but also allowed us to make data-driven decisions that boost both profitability and customer satisfaction."
These were the main pricing challenges team Stiho faced:
- Lack of Competitor Data
We had no visibility into competitor activity for each brick-and-mortar location, lacking a clear understanding of our market position due to insufficient competitor data. To identify optimal price points, we needed better insights into how we compared to our competitors.
- 23 Store Locations, each with their wwn Pricing Process for customer groups
Managing pricing across 23 store locations, each with its own pricing logic for different customer groups, posed a significant challenge. The decentralized pricing structure made it difficult to ensure consistency, especially when catering to varied customer segments. This inconsistency impacted our ability to build trust with customers, as each location had its own market position and pricing approach.
- No Data-Driven approach to Pricing and Decision Making
We needed to better understand our price position in the market to find our optimal price points. Without a data-driven approach to pricing, our decisions were based on historical patterns and assumptions rather than real-time insights. This lack of actionable data resulted in suboptimal pricing strategies and missed chances for improvement.
- Not having a pricing strategy and the right tools prevented optimization and led to price inconsistencies
Because we sell in several different store locations and various customer segments, each of our store locations also had their own pricing process, which made pricing consistency a challenge, Price discrepancies would be a hindrance to building trust with our customer base.
SYMSON had the capabilities and experience to handle the complexities of pricing across different variables such as:
Our pricing software has transformed how we approach pricing decisions. By centralizing pricing logic and using competitor data, we’ve gained a clearer market position and improved price consistency, which has enhanced both profitability and customer trust.
Gijs Pelt
Stiho
SYMSON was able to help Stiho.nl with key pricing process improvements. We started by organising and collecting all the data from all the store locations to have a better assessment of our situation with SYMSON’s help.
- Optimized Price List Management for Maximized Profitability
Our pricing solution enables optimized price management by accounting for different price sensitivities and market dynamics across brands and product groups. This allows us to tailor pricing strategies to maximize revenue and profitability.
- Streamlined and Automated Pricing Processes for Efficiency
By automating the pricing process, we eliminate the need for manual updates and inefficient excel management. Our solution seamlessly integrates with ERP systems, reducing errors, improving efficiency across countries and customer segments, and enabling faster responses to market changes, ultimately driving optimized pricing strategies.
- Enhanced Market Understanding with Competitor Pricing Insights
We gained a clearer view of our market position using SYMSON's competitor pricing capabilities.
- Optimized Customer Segmentation for Targeted Pricing
Our pricing software enabled us to identify high-volume and frequent buyers, allowing for tailored discounts that improved customer loyalty.
- Centralized Pricing Logic for Consistency and Clarity
The pricing software allowed us to establish a centralised pricing approach with clear logic, ensuring consistency across all locations.
- Holistic Decision-Making for Improved Pricing Accuracy
Centralized decision-making at the corporate level, supported by the pricing software, led to more accurate pricing, better communication, and fewer discrepancies across stores.
- Strategic Market Positioning Through Competitor Analysis
Our pricing software empowered us to strategically position our prices in the market by leveraging competitor pricing data.
- Improved Customer Trust Through Transparent Pricing
Centralized pricing enhanced communication and reduced discrepancies, building greater trust and perceived fairness in the eyes of our clients.
Stiho.nl Today
Stiho.nl has visibility and transparency across their sales channels and regions and able to use insights and analyse this data. They now have a learning loop, which means they are constantly improving through deeper understanding of customer behaviour, data transparency and changing markets conditions. They enhanced brand recognition and value in the electronics market.
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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