Raley’s Adopts AI Pricing Optimization Tool

Grocers are adopting artificial intelligence in record numbers, with a robotic assistant at Giant Food Stores, Walmart’s Intelligent Retail Lab, Albertsons and Kroger adopting Microsoft cloud-based technology and now Raley’s implementing the Eversight Pricing Suite.

Eversight, a Palo Alto, Calif.-based AI-powered pricing and promotion software provider, has announced that Raley’s of West Sacramento, Calif., has implemented the Eversight Pricing Suite to bring intelligent pricing to its stores.

Raley’s, which recently completed a pilot of Eversight’s AI-powered software focused on optimizing multiple product categories across various strategic goals, is now deploying the Eversight platform enterprisewide. 

While historically, brick-and-mortar retailers have relied on regression models to inform pricing, Raley’s adoption of Eversight’s AI-based price optimization technology will enable the grocer to automatically test prices and promotions across its geographic network, as well as receive insights designed for immediate action on an ongoing basis.

“Eversight’s Pricing Suite was designed to deliver AI-powered, experimentation-based software that reads what happens in stores as it happens, with real shoppers at the shelf-edge,” said Eversight officials in a release. “This gives brick-and-mortar retailers the same power to optimize price that is available to pure-play e-commerce retailers, enabling them to compete in an entirely new way.” 

“Innovation has been at Raley’s core since its beginning, and part of our success can be attributed to how we leverage technology to our advantage,” said Chris Pecot of Raley’s in a statement. “We view Eversight’s pricing software as the next generation in price optimization. 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.”

From data collection to price point optimization to AI-based coaching, Eversight’s Pricing Suite was designed to help retailers become more agile and adaptive in an ever-fluctuating market.

“When we built the Eversight Pricing Suite, we aimed to arm brick-and-mortar retail with an experimentation-led approach to pricing that delivered real-time insights into consumer behavior, and AI was the key to making that vision a reality," said Jamie Rapperport, co-founder and CEO of Eversight. “The resulting continuous optimization, coupled with a coaching layer that saves merchants time and redirects bandwidth to strategic opportunities, provides physical retailers with the tools to compete aggressively with their physical and online counterparts.”

Upon full deployment, Raley’s newly adopted pricing technology will address high-impact categories representing $3.2 billion in revenue, reported Eversight.