IRVINE, Calif., Feb. 28, 2017 /PRNewswire/ -- PriceSpider—an industry pioneer in creating advanced retail technology solutions for brands, retailers and manufacturers—recently released a detailed case study on how its innovative suite of services is working to ensure consistent omnichannel pricing for premium shoe company, Spring Footwear. Since 2004, PriceSpider has been a leading provider of products and solutions that offer invaluable insight into consumer purchasing behavior helping manufacturers "know more" and "sell more."
Spring Footwear's unique lines of European themed designs, re-imagined for an American customer experience, can be found across an array of both brick-and-mortar and e-commerce platforms. Executives at the company however, were experiencing difficulty in maintaining Minimum Advertised Price (MAP) compliance across this vast ecosystem.
"Spring Footwear's leadership approached our team with concerns about their existing MAP monitoring system," said Anthony Ferry, co-founder and CEO of PriceSpider. "The company wanted an organized, accessible and single portal solution, which monitored online pricing in real-time."
PriceSpider's Price Monitoring Solution provided the perfect answer to address Spring Footwear's MAP issues. It protected the integrity of its brand while supporting its seller partners. Previously, the company only had access to pricing data collected twice-a-week, which allowed many violations to be undetected and thus unreported. "Without eyes on it, you would definitely miss changes in price," said Steven Greenstein, Spring Footwear vice president of sales. "I like that PriceSpider is monitoring 24 hours a day, so we won't miss a violation."
For brands with both e-commerce and traditional store locations, one of the most challenging areas is significant price differentials between online sites and in-store options. In many cases these pricing disparities can be as large as 40 to 60 percent less in the e-commerce forums. For Spring Footwear, brand considerations are critical and the Price Monitoring Solution provides protection of their premium collections.
PriceSpider's solution delivers:
- Automated Price Monitoring
- Discovery of violators
- Identification of who violated the company's price policy first
- Direct contact with offending parties
In place at Spring Footwear for only three months, the Price Monitoring Solution has already reduced MAP infringements from 900 prior to adoption to now 100, an 89 percent decrease. "We are very excited that PriceSpider technology has been able to supply this level of positive results so quickly, and could not have achieved such stellar results without assistance from Steven Greenstein and the team at Spring Footwear's dedication and effort to enforce their policies," said Ferry. "We look forward to assisting many other brands navigate the retail landscape more effectively."
To read the full case study, click here.
About PriceSpider: PriceSpider is a retail technology company specializing in products and solutions that provide invaluable insight into consumer purchasing behavior. Powered by proprietary "spidering" technology that collects a wide range of data from thousands of e-commerce sites, PriceSpider discovers—with precision—what, where, when and how people purchase. In addition to its super-charged buying solution Where to Buy, which integrates with manufacturers' websites to capture conversion data while giving shoppers access to online and local retailers, PriceSpider offers a competitive edge with unique solutions including Minimum Advertised Price (MAP) Monitoring, Rating and Reviews and Channel Reports, which dive deep into retailer, reseller and brand performance, pricing and competitors' posture. With additional solutions currently in research and development designed to complement its existing suite of technological offerings, PriceSpider aims to provide the ultimate integrated technology platform to help its customers "know more" and "sell more." For more information, please visit www.PriceSpider.com.
MEDIA CONTACT: Leslie Licano, Beyond Fifteen Communications, Inc.
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