When Swedish tech company Pricer was looking to expand presence and create a new base in APAC, they knew that being prepared and understanding local business and legislative landscapes would be critical if they were going to build a bigger customer base in one of the world’s most competitive regions.

Swedish tech company Pricer has delivered a stream of innovative technologies, products and solutions to the retail market for almost three decades. While Pricer is not a household name, their electronic shelf labels (ESL) have a global impact. ESL display prices, item codes and other information about products we see in physical stores. Pricer’s core offering has been built around ESL technology using a unique and highly advanced optical wireless network system.

As a leading supplier to high-street retailers in the grocery, DIY, electronics and pharmacy sectors, Pricer has established a significant global presence in the fast-moving smart in-store technology market. When a global client chose to deploy Pricer’s ESL platform across Taiwan, the company needed to act fast to deliver a full turnkey solution in the shortest time possible. This also gave Pricer the catalyst for preparing a regional base in Taiwan that can be used for further expansion plans across the region.

We had to get ready to start deliveries on very short notice. To manage, we needed local staff to interact with customers and local subcontractors to facilitate the initial deployment in Taipei. In addition, this required detailed knowledge of local import and taxation rules – as well as an understanding of necessary certifications for products to be sold and delivered. Pricer’s Magnus Larsson, VP Customer Operations,

Pricer’s Magnus Larsson, VP Customer Operations, explains:

“We had to get ready to start deliveries on very short notice. To manage, we needed local staff to interact with customers and local subcontractors to facilitate the initial deployment in Taipei. In addition, this required detailed knowledge of local import and taxation rules – as well as an understanding of necessary certifications for products to be sold and delivered. During the process, we decided to establish a local company to better serve the Taiwanese market and the wider Asia-Pacific region.”

Many of the in-store retailers that have a presence in the 48 APAC countries are under pressure to innovate in a bid to compete with growing online sales which are expected to swell to USD 2.5 trillion by 2023.

Pricer’s ESL platform supports an assortment of use cases for the in-store segment. ESL can optimise in-store processes such as inventory, replenishment and click & collect (picking of online orders). It is also a prerequisite for dynamic pricing, where businesses set flexible prices for products based on current market demands. The platform facilitates better shopping experiences with dynamic product positioning making it possible to quickly find the right product on a store app.

To meet the demands, Pricer turned to Business Sweden to help provide local market knowledge and access to accelerate market entry. The Business Sweden team used their capabilities to manage key elements of the set-up process including the details around import and taxes, and acted as a local project manager, representing Pricer in Taiwan during the first few months of engagement as they set up a local company. The Business Sweden team in Taiwan were available immediately to act as local representatives and also established connections with local third-party companies which were needed for service execution. Additionally, Pricer handed over the challenge of finding local talent to Business Sweden who used local knowledge and expertise to carry out the entire recruitment process and find the right staff in the highly competitive Taipei market.

Larsson concludes:

“Retail in Asia is developing at a very high pace with consumers expecting advanced technology to support their in-store shopping. Pricer’s solutions enable store owners and retail chains to meet shoppers’ needs. The Asian market is an interesting place to be, with all kind of inspiring innovation happening. We will therefore continue to develop our business in Taiwan and across the region.”

 

Challenge

Pricer had to establish a local presence and recruit staff to become compliant to start delivering in Taiwan at short notice. This required detailed knowledge of local import and taxation rules as well as an understanding of necessary certifications for product to be sold and delivered in the market.

Solution

Business Sweden acted as local project manager to co-ordinate establishment including recruiting local staff to interact with customers and local subcontractors. Business Sweden were able to support Pricer to establish a local company with the capability to serve the Taiwanese market as well as function as a hub for addressing the wider Asia-Pacific market.

Result

Within six months, Business Sweden had supported Pricer to establish a local business entity, comply with regulations and tax requirements, and employ local staff on the ground. Pricer successfully delivered their first project in Taiwan within six months of arrival and are set up with their team to deliver the next phase of store rollouts.

ABOUT PRICER

Since 1991, Swedish tech company Pricer has delivered innovative solutions for the global retail industry. Pricer develops and manufactures a digital store communication system with electronic shelf labels (ESL) that help retailers around the world to solve a number of key and time-consuming in-store challenges by streamlining critical processes in the store, such as price updates, in-store picking and inventory. It uses application-specific integrated circuit technology, advanced optical wireless technology, instant flash and works closely with E-Ink. These technologies form part of a sophisticated architecture that encompasses hardware and software, cloud-based systems, artificial intelligence and image recognition.