BrandView has launched new software that will give retailers better visibility of their pricing structure - and allow them to make instant changes in the event of a pricing error.

Retailers will also be able to set pricing rules for specific categories, in line with minimum pricing for alcohol say, and then monitor individual products in real-time to ensure they are in compliance. Products that aren’t will immediately be flagged to the relevant buyer.

BrandView said the tool would allow retailers “unprecedented control” over their price management strategies.

“It’s often the case that retailers, especially the large supermarkets, find themselves facing criticism for pricing issues through no major fault of their own,” said BrandView founder Chris Thomas. “The lack of intuitive technology to monitor, manage and react quickly has been a major factor.”

Thomas added that the tool would allow retailers to make instant price changes across the business. “Users will be able to react immediately not only to competitor pricing, but to any discrepancies,” he said.

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