ORIS Intelligence released the following update in mid-March, providing strategic information for Houseware manufacturers.
Pricing Violations Heating Up in Housewares Industry: ORIS Intelligence Reveals New Insights
ORIS Intelligence, provider of actionable insights that preserve pricing integrity for manufacturers, announced new data into pricing violations and the impact it is having on housewares manufacturers. The new data shows the average housewares brand has nearly 150 sellers offering its products across online channels, and about 20 percent of URLs are in violation, nearly double what other industries experience.
The increasingly digital home is undoubtedly changing the way consumers interact and purchase housewares products, compounded by the change in who is living in the home. Millennials now account for 31 percent of all household spending, yet nearly 15 percent of the largest living generation still live under their parent’s roof. In order to evolve and still remain competitive, housewares manufacturers must focus on their Minimum Advertised Pricing (MAP) policies. As one of the most over-looked, yet most effective business initiatives, MAP helps manufacturers preserve seller relationship and ensure a consistent brand experience for consumers across channels.
“Like every industry today, housewares is undergoing a transformative time right now,” said Pamela Springer, CEO of ORIS Intelligence. “Manufacturers that prioritize and enforce pricing will undoubtedly come out ahead as it will help them maintain control of their channels and brand.”
“As the leader in delivering innovative food and beverage solutions, we are focused on sustainability, community and integrity and that begins with our ability to deliver exceptional customer service,” said James Campbell-Harris, director of eCommerce for Pacific Market International, owner of the ALADDIN®, STANLEY®, SLANT® and MIGO® brands. “As part of providing high-quality products in a high-quality way, it is imperative for us that we maintain fair pricing across channels. ORIS helps us develop and execute a successful MAP strategy so our consumers and sellers will be guaranteed the consistency that matches our products.”
ORIS has compiled the top three initiatives that every housewares manufacturer can implore to better tackle price parity.
- Start with the recipe: Log any and all violations and pricing changes – and keep a history of sellers who aren’t following the rules. Also log your conversations with those sellers so that you have a record of it in one place.
- Use all the ingredients: Don’t just focus on Amazon and Google Shopping – look at direct retailer websites, Walmart, eBay and other marketplaces. Amazon is often matching these sites, and be aware that Walmart alone has quickly gone from 300 to more than seventeen thousand sellers to monitor.
- Know the special sauce: It’s critical to understand who started the pricing cascade, and that starts with catching violators in near real-time. With ongoing monitoring, you’ll increase your chances of obtaining proof and timing of the violation, as well as catching any unknown sellers. It’s often the unknown, unauthorized dealers that create more problems, largely because many times, manufacturers don’t know who they are or that they even exist.
About ORIS Intelligence
ORIS Intelligence delivers actionable insights that preserve pricing integrity for manufacturers to help them protect their brand. Built from the inside-out, ORIS Intelligence’s cloud-based platform helps solve the complex selling challenges of today’s manufacturers by patrolling and enforcing minimum advertised price (MAP) everywhere their products are sold online, including discovering unknown sellers.
