Home automation retailer relies on 360pi for competitive price intelligence.
Ottawa, Canada February 05, 2014
Today, 360pi, the leader in retail price and product intelligence, announced that Smarthome has joined the company's growing list of retail customers. Smarthome is focused on supplying consumers with a broad diversity of home automation products including home energy efficiency, security, and entertainment solutions. The home automation market is characterized by two types of shoppers - occasional and repeat. The occasionals tend to visit the large online pure-plays, while the more lucrative repeat shoppers are interested in the diversity and functionality of solutions offered by specialty home automation retailers like Smarthome.
Smarthome had built an in-house solution to deal with the SKUs carried by the large online pure-plays, but these SKUs only accounted for a fraction of their revenues. More importantly, Smarthome needed a reliable solution to address its direct competitive set, those retailers focused expressly on the home automation market. "The majority of our revenues come from less than half of our SKU's, and these products are not typically carried by the large online pure-plays," stated Scott Holder, Vice President of Marketing, Smarthome. "These solutions are our 'bread and butter', yet we lacked an accurate view into the competitive pricing of other home automation focused retailers. We evaluated numerous price intelligence vendors, and selected 360pi for their superior match rates, data accuracy, responsiveness, and speed of implementation. At the end of the day we wanted peace of mind, knowing we partnered with the market leader in competitive price intelligence."
360pi deployed 360price at Smarthome within two weeks of contract signature and started providing pricing intelligence for 3,000 SKUs in near real-time. "We are extremely pleased that Smarthome has entrusted 360pi to help support and grow their revenues and margins with real-time price intelligence," stated Alexander Rink, CEO, 360pi. "Smarthome joins a growing list of retail leaders that have determined 360pi to be the trusted source for price intelligence, and validates our ability to effectively serve not only large enterprise retailers, but mid-size ones as well."
360pi helps top retailers compete and win in an increasingly price transparent environment. 360pi actively monitors millions of products from hundreds of retailer websites and delivers price intelligence for exact and similar matched products with unprecedented accuracy. 360pi's customer base of "brick & mortar", e-commerce, and multichannel retailers accounts for over $US100 billion in annual retail sales and includes Ace Hardware, Best Buy Canada, and Overstock. 360pi clients gain real-time visibility into the market and full awareness of the competitive pricing landscape to "right price" to consumers. Ultimately, 360pi's customers make smarter pricing decisions that drive increased conversions, revenues, margins and customer loyalty.
Smarthome was created based on the realization of a need for automated products that make lives easier, safer and more enjoyable. Today, Smarthome sells more than 14,000 hard-to-find products, including home automation solutions featuring award-winning INSTEON technology. Smarthome sells online through its award-winning website, its direct mail catalog, its partners - such as Amazon, New Egg and Sears, and its brick and mortar retail store located in Irvine, CA. Smarthome can also be found online at Smarthome.com, on Facebook at facebook.com/smarthome and on Twitter at Twitter.com/smarthomeinc.