Selco Builders Warehouse has launched a new pricing strategy and loyalty scheme after a 12-month customer research programme examined the challenges facing tradespeople and construction businesses.
The builders’ merchant has introduced Sharp Prices, which will see selected product prices reviewed daily, alongside tradeREWARDS, a three-tier loyalty scheme offering discounts based on monthly spending.
The initiatives form part of Selco’s new Sorted proposition, which follows the company’s largest customer listening programme to date.
Selco to review building material prices daily
Sharp Prices will cover a range of Selco’s core products and best-selling lines, with prices monitored against visible market prices and adjusted daily where required.
Selco
The company said the strategy is intended to provide greater consistency in pricing and reduce the need for tradespeople to compare prices or negotiate when purchasing building materials.
The pricing changes will apply across Selco’s sales channels.
Selco said its research found that tradespeople are facing increased pressure from rising costs, limited time and more complex purchasing processes.
TradeREWARDS introduces three discount tiers
Alongside the pricing strategy, Selco has launched tradeREWARDS, a loyalty programme based on customers’ average monthly spend.
The scheme has three tiers: Bronze, Silver and Gold.
Bronze customers receive access to offers available through the Selco Trade Card, including Real Deals and Mega Deals.
Customers spending an average of £300 including VAT per calendar month qualify for Silver status and receive 6% off purchases, while those spending an average of £1,500 including VAT per month qualify for Gold status and receive 10% off purchases.
Customer research drives changes to Selco offering
Selco spent the past 12 months working with customers and testing different approaches before introducing the two initiatives.
The research identified rising costs, low consumer confidence and the time spent comparing and purchasing materials among the issues affecting tradespeople.
David Lennon, Commercial Director at Selco Builders Warehouse, said: “Listening and responding to our customers has been at the centre of these two initiatives. We’ve undertaken the biggest customer listening programme in Selco’s history to better understand the frustrations tradespeople face every day and the role we can play in helping them overcome them.
“What we heard was clear: consumer confidence remains low, inflationary pressures continue to affect businesses, and every minute spent away from the tools matters. Tradespeople told us that they want greater consistency, more transparency and less complexity when buying the products they need.
“We’ve worked alongside our customers to test and refine solutions that genuinely make a difference, supporting a key part of our economy in the local communities we serve.
“Sharp Prices removes the guesswork from pricing by checking our prices every day against the best visible prices in the market, while tradeREWARDS recognises customers for their loyalty and gives them a simple, accessible way to create more value for their businesses every time they shop.
“Together, these two initiatives form part of our new Sorted proposition, which is all about making life easier for the Trade.
“Whether customers are visiting a store, ordering online or using the app, it’s all about keeping things simple: great value, what they need, when they need it, and less time hanging around so they can get on with the job.”
