World’s leading music gear retailer optimizes margins with right pricing.
Ottawa, Canada – February 10, 2014 – Today, 360pi, the leader in retail price and product intelligence, welcomed Guitar Center to the company’s growing list of retailer clients. Guitar Center offers the world’s largest selection of musical instruments for retail consumption through their 250+ brick and mortar stores and various online channels. While Guitar Center’s target market spans to both music professionals and hobbyists, they continue to encounter increased competition from both inside the Musical Instrument (MI) Industry to the broader electronics industry, making educated assortment and pricing decisions critical to continued success.
Guitar Center selected 360pi to increase their awareness of the competitive marketplace and to utilize the actionable insights gained from the 360pi intelligence to become highly competitive within their space. Several providers were assessed by Guitar Center, but 360pi clearly came across as the market leader based on their reliability, scalability, and provision of the most accurate and complete price intelligence across our competitive set.
Guitar Center had been using another provider, but selected 360pi’s 360price and 360assortment products to deliver near real-time insights into their competitive set. “Guitar Center is a marquee brand in the music industry and retailing in general, and we are honored they selected 360pi to increase their competitive edge”, stated Alexander Rink, CEO of 360pi. “In an increasingly competitive and price transparent retail market, Guitar Center clearly recognizes the importance of carrying the right products, at the right price and the right time, to win both share and margin.”
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.
About Guitar Center
Guitar Center is the world’s largest retailer of guitars, amplifiers, drums, keyboards and pro-audio and recording equipment, with more than 256 stores across the U.S. In addition, the Music & Arts division operates more than 100 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students since 1984. This year marks the 50th anniversary of Guitar Center’s historic first-steps to helping people make music. With an unrivaled in-store experience and passionate commitment to making gear easy-to-buy, Guitar Center is all about enabling musicians and non-musicians alike to experience the almost indescribable joy that comes from playing an instrument. All we sell is the greatest feeling on earth. For more information about Guitar Center, please visit www.guitarcenter.com
(613) 562-2525 x 511
Ketner Group PR + Marketing (for 360pi)