Supermarket chain Raley’s has adopted Eversight’s artificial intelligence (AI) based retail price optimisation technology following the completion of a successful pilot.
Dubbed Eversight Pricing Suite, the software will equip Raley’s stores with dynamic, automated price testing for insights into customer behaviour in real-time.
During the pilot, Eversight’s AI-powered software was tested across Raley’s multiple product categories to inform pricing.
The grocery company will now deploy the platform across its enterprise. It currently employs more than 11,000 team members in California and Nevada, US.
Raley’s official Chris Pecot said: “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.
“We view Eversight’s pricing software as the next-generation in price optimisation. 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. We look forward to deploying Eversight’s pricing solution across the entire organisation.”
Eversight’s Pricing Suite will help Raley’s store network turn into a dynamic learning lab. It will help the retailer can collect and analyse real, current data about different price points on an ongoing basis.
The AI-based solution will also offer improved performance in terms of sales and margins, and continuously coach merchants toward making high impact decisions.
When fully deployed, the technology will focus on Raley’s high-impact categories of the store geography.
Eversight co-founder and CEO Jamie Rapperport said: “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 behaviour, and AI was the key to making that vision a reality.
“The resulting continuous optimisation, 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.”
