Privately owned and family-run grocer Raley’s tapped artificial intelligence-powered pricing and promotion software company Eversight to bring intelligent, dynamic pricing to its stores in real-time.
Following a successful pilot, which focused on optimizing multiple product categories, Raley’s now is deploying Eversight's pricing suite enterprise-wide, according to a recent media release.
The solution provider’s AI engine enables Raley’s to use its store network as a learning lab to intentionally and automatically experiment with different prices and promotions, with the resulting learning used to inform optimization by continually delivering relevant insights for immediate action.
The pricing suite was designed to help retailers become more agile and adaptive. The experimentation-based software interprets what happens in stores in real-time with shoppers at the shelf edge. Raley’s was one of the first retailers to test the technology and has experienced positive results, according to the release. The tool delivers functionality that helps brick-and-mortar retailers better compete with online-native retailers.
“We view Eversight’s pricing software as the next generation in price optimization,” said Chris Pecot, director strategic pricing for Raley’s. “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.”
Raley's operates 121 stores and generates roughly $3.2 billion in annual revenue.