Project Description
Keeping an eye on your health, and that of our competitors
Case Study | Retail | Pharma
Leading group in online sales of pharmaceutical products, which also has more than 1,600 physical pharmacies, improves its sales and promotions strategy in order to remain competitive in the market.
1. Challenge
Managing a huge catalog of products, in addition to 1600 physical pharmacies, becomes an impossible task to handle without the right tools to do so. It translates into hours and hours of manual labor for the company’s employees. When the majority of employees’ working hours are spent on this manual process, there is little time left to keep an eye on competitors.
This pharmaceuticals retail group started using flipflow with the main objective of having real-time market information to stay competitive, with special interest in the online channel, monitor prices one by one on the web and in its 1600 stores, and based on this, work on a dynamic promotional strategy that will allow them to continue as the number one group in their sector.
2. Solution
Daily information on competitor’s prices
Thanks to flipflow, the Mexican company has daily price information on its 7 main competitors in the sector.
Impacted teams:
Monitoring of product availability
In addition to prices, through the BI platform, they can also monitor on a daily basis the availability of products that their competitors have, and thus be able to activate different mechanisms that allow them to remain at the leading edge of the market.
Impacted teams:
Innovation in marketing actions
On the other hand, by using the flipflow platform they also get more actionable information, such as knowing the resources and images used by their competitors, as well as reviewing the quality of their content, which will allow them to innovate in their marketing actions, aimed at attracting the largest possible number of customers.
Impacted teams:
3. Results
Since the implementation of flipflow, the leading pharmaceutical sales group has experienced a significant decrease in the manual labor hours of its marketing employees dedicated to product innovation. By monitoring what their competitors are doing, they have been able to create a dynamic of promotions at the forefront of the market.
The use of flipflow has also led to increased margins on the sale of products where they are overly competitive, especially in lower priority categories.
Finally, all the innovation they have implemented and the price changes they are making as a result of monitoring all their products has enabled them to increase sales. They now have daily updated and historical data on prices, promotions, images and content for greater sales efficiency.
Reduction in manual labor hours
Increase in turnover
Increased margins
3. Results
Since the implementation of flipflow, the leading pharmaceutical sales group has experienced a significant decrease in the manual labor hours of its marketing employees dedicated to product innovation. By monitoring what their competitors are doing, they have been able to create a dynamic of promotions at the forefront of the market.
The use of flipflow has also led to increased margins on the sale of products where they are overly competitive, especially in lower priority categories.
Finally, all the innovation they have implemented and the price changes they are making as a result of monitoring all their products has enabled them to increase sales. They now have daily updated and historical data on prices, promotions, images and content for greater sales efficiency.
Reduction in manual labor hours
Increase in turnover
Increased margins
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“Flipflow allows us to react from the sales department and ensure our offer in all channels by having our assortment available and without stock-outs in any postal code in Spain. Its daily use ensures that we don’t lose sales due to stock and assortment shortages.”
“In our case we analyze the products of our categories in 45 retailers in 9 countries to have quality information that we use in competitive manufacturing trends for customers, knowing the average price per gram of many products per country and we also detect potential winner products to add to our offer.”
“We have really noticed the improved control over our recommended prices. Manually it was impossible to maintain a price corridor on so many online channels and that brought us a lot of friction. Now we detect unauthorized sales and sellers on marketplaces that cause us conflicts with our customers.”
“We can analyze our own and competitors’ price movements on a daily basis and have improved our revenue by adjusting prices on a daily basis in terms of pricing and promotional strategy.”
“This is definitely the future of retail. Flipflow gives us an improvement in the quality and structure of the information and considerable savings over traditional market research from well-known consulting firms that sell aggregate data without detail including information we don’t need.”
“Flipflow is core to us in setting prices on a daily basis for more than 60,000 SKUs and maintaining our automatic repricing system in a very competitive industry.”