OVERLAND PARK, KS, USA, August 24th 2021: Storewise, a grocery automation software company, announced their new Price Manager tool that helps AWG Independent Grocers (“Independents”) make retail pricing changes. This new tool solves the time-consuming problem of getting accurate price changes to the warehouse. When suppliers (e.g. Kraft, General Mills) pass along price increases due to inflation and other factors; big-box stores like Walmart have the power to push back against these supplier’s cost increases because of their high volume. The suppliers are dependent on these big box stores, thereby putting them at a disadvantage to the giant retailer. This keeps their prices from increasing, a luxury that Independents do not have, putting them at an unfair advantage.
“Storewise’s new Price Manager gives Independent Grocers the power and confidence to remain competitive with their prices, yet keep their margins at levels to protect profitability, by making price changes directly within a simple interface,” says Christopher Greco, CEO of Storewise.
When Independents want to change product pricing, they notify their warehouse, which can be time-consuming and some price changes may get missed, Sometimes, stores don’t even notify their warehouse because they are so busy themselves, which creates a communication disconnect that wastes time, money, and invalidates retail pricing on invoices.
Stores also lose significant profit margins from any major price reductions that occur. This can cut into their margin by 10-20%, which is significant in a penny profit business, like grocery.
Price Manager gives Independents full and quick control.
“Pure Transparency,” says Jordan White, White’s Foodliner. “I really have the ability to go into each category down to the item to view ALL my stores at once and evaluate the pricing our company needs (like) fixed pricing, auto changing due to market price changes, or locking in key value items. Having this (Price Manager by Storewise) ability gives the grocer some true control over their pricing.”
By changing base prices for any warehouse product in their stores, Storewise integrated with AWG makes pricing changes for Independents fast and efficient. With a couple of clicks, inside the simple to use Storewise Price Manager, can make bulk pricing changes which gets directly sent to AWG, and then updated.
No more missed profits, no more missed opportunities to sell more products, no more pricing, margin and movement issues.
Maintaining a price book with spreadsheets has been tough and cumbersome, says Armin Mesinovic, Senior Financial Analyst, Brother’s Markets. With Price Manager (by Storewise), I've been able make price changes from the office and within the aisles without wasting time on clunky spreadsheets. The interface is simple and easy to navigate. If you want to take control of your pricing, you need Price Manager.
Price Manager is one feature of the Storewise platform which protects and maximizes profits by using: Price Analysis, which allows owners to keep prices correct; Ordering, which is a bridge buying program allowing retailers to order allowance items that are expiring and not coming back “on-deal” immediately; Risk Reduction which catches losses caused by lack of training, excess voids, cancellations, and TPR Automation which increases gross margin by matching TPR’s to in-store pricing.
Storewise was founded with a mission to bring empowering new tools and technologies to Independent Grocers. Storewise is a grocery automation software company that helps stores increase their profits, automate manual tasks & processes, and price products accurately. There are several hundred grocers using the Storewise platform and no grocer has ever left, making it a technology unicorn. Visit www.storewise.io.