Baker & Taylor Maximizes Competitive Edge with Ficstar’s Reliable Pricing Data
Baker & Taylor, a distributor of books and entertainment, has been in business for over 180 years. It is based in Charlotte, North Carolina and currently owned by Follett Corporation.
Before its acquisition by Follett in 2016, Baker & Taylor had $2.26 billion in sales, employed 3,750, and was #204 on Forbes list of privately-owned companies in 2008. Baker & Taylor distributes books, hard copy and digital, to libraries, institutions, and retailers, including warehouse clubs and internet retailers in over 120 countries.
Baker & Taylor hired a service provider to help collect pricing data from competitors. However, the provider was only able to pull data twice a month but Baker & Taylor wanted the data at a daily basis.
The provider also showed that it was unable to keep pace with the competitor’s ongoing pricing changes on websites and typically, by the time they had fine-tuned their algorithms, the competitor had moved on to the next set of changes.
After working with two providers, both of which had charged a premium fee for data services but provided only inconsistent and unreliable results, Baker & Taylor was still facing the same challenge that it’s not able to catch up with the competitor’s pricing changes.
Ficstar’s customized solution helped collect and deliver competitors’ price data daily and weekly in the formats requested by Baker & Taylor at a lower cost than its previous service providers.
Baker & Taylor started to receive reliable competitor pricing data that were accurate and consistent for their competitor price monitoring needs. They were able to compete with confidence from that.