Introduction of new categories proves successful for Pricecheck
Following the introduction of new product categories, international wholesale and distribution business Pricecheck recorded an annual turnover of £54.7 million for 2016-17, representing an increase of £11.1 million on the previous year.
Based at a 115,000 sq ft warehouse and offices in Sheffield, Pricecheck distributes toiletries, cosmetics and other branded consumer goods and exports to over 75 countries around the world. It also partners directly with key global suppliers and distributes both regular and residual stock.
Business development director Chris Roberts has helped to introduce new categories, such as food, drinks, confectionery and pet care, into the business. He comments: “It’s been a phenomenal year in terms of growth for the business, thanks in no small part to the introduction of our new product categories.
“Due to the unique way in which we operate, our flexibility and business model, we have been able to offer key suppliers and manufacturers a trustworthy solution when dealing with their residual, short-dated or surplus stock, in addition to more and more regular lines.”
One of the latest categories to be introduced at Pricecheck is pet care. Roberts says: “We’ve only been dealing with pet food and accessories for around a year now, but have already seen sales figures go above and beyond what we originally predicted for this category.
“Although Pricecheck is traditionally known for the toiletries and cosmetics categories, we believe that our success in food, drinks, confectionery and pet care will only continue to grow further, enabling us to introduce even more new categories for our customers, as well as developing our existing product range.”
Pricecheck offers manufacturers careful control of their brands through its bespoke software systems and in-house IT support. The firm’s IT manager Richard Thompson says: “As our customer base has grown, manufacturers need to be confident that we can fully control where their stock is sent while maintaining their brand values. For example, some manufacturers don’t want their products to be sold overseas.
“My team have therefore developed a system that enables controls to be applied to a product code to prevent it being offered somewhere that it shouldn’t. This allows us to 100% guarantee that a product won’t appear in a territory which a manufacturer has highlighted to us.”
This level of stock control has proved popular with a number of brand owners around the world and Roberts is keen to open up new accounts with customers who could benefit from Pricecheck’s unique approach.
“We partner with manufacturers and brand owners to discreetly distribute their products to mutually beneficial customers and territories,” he says. “We’re also trading with more international customers than ever before.
“In order to continue this growth, we are looking at opening up new accounts with some of the world’s leading food, drink and pet care manufacturers, as well as developing and expanding our other product categories, and we anticipate reaching £100 million in turnover by 2020.”