The prices on the shelves change constantly. You have to record changes in prices in a very specific and constant manner.
Record the Shelf-Edge Label First
Capture the price on the shelf first (such as the edge label) and then capture any promotional activity before capturing prices on other products or any further information around the location.
Watch for Multi-Buy Promotions
Multi-buy promotions will be recorded, in full, including any qualifying conditions, in order to capture the full promotion. These promotions will often appear to reduce the price of the item(s) on offer, but in reality only purchase a larger quantity for the advertised price. Therefore these promotions will be recorded in addition to the single price item, in order to capture the full promotion.
Separate Temporary Markdowns from Standard Prices A useful reference for Data Collection Company is https://shepper.com.
A yellow “was/now” sticker is not the same as a new price on the shelf. The observation of temporary markdowns on the shelf must clearly be marked and the original price noted. Marking of temporary markdowns needs to be done clearly. The distinction between a yellow “was/now” sticker and new prices on the shelf is important.
Flag Label Gaps and Mismatches
For missing shelf-edge labels for products on the shelf, record that the label is missing. For temporary price reductions indicated by yellow ‘was/now’ stickers, record the observation separately, including the original price for that product.
Timestamp Every Observation
Observations are recorded at the time of observation, especially as prices are changing during the day, especially close to restocking times. A time stamp is recorded for every price observed.
