Raley’s is bringing dynamic pricing across the entire chain through the Eversight Pricing Suite. The software is designed to optimize product categories across various strategic goals to make pricing decisions based on current data and changes in the market, rather than relying on historical data.
The solution will enable Raley’s to use its store network as a dynamic learning lab where the AI engine can automatically test prices and promotions across the entire network. This will enable the grocer to optimize prices in real time, giving it an advantage over competing supermarkets.
Optimized pricing is expected to boost both sales and profit margins at Raley’s. The software can choose prices that best match specific category objectives and free up managers to focus on store operations other than price.
“We view Eversight’s pricing software as the next generation in price optimization,” said Chris Pecot, Director of Strategic Pricing at Raley’s in a statement. “In piloting the technology, it gave us fresh, accurate data that we used to guide our decisions in a manner that benefitted our customers and our bottom line\.”
- Crafting Targeted Pricing And Promotion Strategies: Shopper-Centric Vs. Product-Centric
- NPD Launches Price Permission Tool To Sharpen Retailer Pricing Strategies
- Technology In Retail; Dynamic Pricing In Store — One Possible Future
- Amazon Escalates Grocery Wars With Whole Foods Price Cuts On Hundreds Of Items
- Amazon Dominates Specialty Retail Prices, But Walmart Shrinks Pricing Gap To 2.3%