Donaghy Brothers are Northern Ireland’s leading independent electrical retailer.
They manage an inventory of approximately 6,000 products, and sell both online and through their physical stores.
Donaghy Brothers were seeking to address the following challenges:
Reduce their risk - by selling a larger proportion of the products in their product inventory
Price dynamically - implement technology that enabled them to adapt their pricing at speed to market changes.
Make smart pricing decisions - gain the confidence to increase prices without alienating customers.
Improve competitive benchmarking - knowing when to follow and when to ignore competitors
Donaghy Brothers selected The BlackCurve Price Optimisation Platform. The BlackCurve team leveraged competitor prices and Donaghy Brothers sales history data, and applied BlackCurve’s flexible rules-based engine to initially target products that were uncompetitive and low selling.
The initial Pilot was over a 3 month period, where BlackCurve was tested on a small subset of Donaghy’s products. During this pilot phase, Donaghy Brothers achieved the following business goals:
Selling unsold inventory - 93 unique products that had not sold prior to BlackCurve managing their pricing.
New sales and revenue - generated approximately £90,000 in new revenue for the business.
Strong ROI - over the 3 month period, Donaghy Brothers achieved a 9 times return on their investment.
Seamus Óg McGilligan, Online Sales Manager at Donaghy Brothers, said the following about working with BlackCurve:
“Before we made the decision to go with BlackCurve we were using a simple re-pricing solution and were not seeing any benefits. BlackCurve offers smart pricing decisions and, even though the initial costs of BlackCurve were slightly daunting, because they offered a pilot phase this de-risked the decision.
The team have been supportive throughout the process, and not only do you get access to the technology, but also the expertise of their data science team. I couldn’t recommend them enough to any online retailer. So far, we have only put a small subset of our inventory through their platform, and the return on investment has been high. We look forward to continuing to develop our partnership with them, as pricing is one of the best levers to achieve your business goals.”
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