In an expansion of an established relationship with Tops Markets, DemandTec’s Unified Lifecycle Pricing solution will now also be implemented by fellow NGI company Price Chopper/Market 32.
Northeast Grocery Inc. (NGI), parent company to nearly 300 Price Chopper/Market 32 and Tops Markets LLC stores across six Northeastern states, has formed a multiyear agreement with DemandTec by Acoustic, a provider of retail pricing, promotions and markdown optimization technology. In an expansion of an established relationship with Tops, DemandTec’s Unified Lifecycle Pricing solution, which includes pricing, promotion and collaboration, will now be implemented by both operating companies.
NGI’s merchandising team and CPG trade partners will use DemandTec’s AI-driven platform to strategize, forecast, plan, optimize, and execute pricing and promotion strategies for Tops and Price Chopper/Market 32, enabling both entities to improve price perception, make smarter promotional decisions and continue to serve their customers with the best products at attractive price points.
“DemandTec by Acoustic’s solutions have transformed Tops’ pricing and promotional strategy, enabling collaboration with suppliers and trade partners in a highly efficient and consistent manner,” noted Diane Colgan, SVP marketing for NGI’s shared services team. “We look forward to expanding upon these successes to deliver increased value to both Tops’ and Price Chopper/Market 32’s loyal customers.”
“After reviewing options to expand our support for supplier collaboration, pricing and promotions, we selected DemandTec by Acoustic’s suite of tools as the best fit for our needs,” added Glen Bradley, EVP merchandising and marketing for NGI’s shared services team. “The AI-driven solutions will improve our team’s efficiency and effectiveness in pricing and promotional decisions, with the ultimate goal being improved value for our shoppers.”
“As Northeast Grocery Inc. aims to drive more value for its customers across the Tops and Price Chopper/Market 32 brands, we are excited to support its pricing and promotion strategy,” said Dennis Self, CEO of Atlanta-based Acoustic. “Inflation and market uncertainty continue to impact consumers’ price perception and promotion expectations. Consumers are looking for more value, and an effective pricing strategy is at the heart of how to meet customer expectations while keeping pace with turbulent market conditions. Now, these two grocery chains can scale and optimize pricing more effectively using a single, unified platform to make smarter pricing decisions with AI-powered decisioning and recommendations.”
Williamsville, N.Y.-based Tops Markets LLC operates 150 supermarkets, including five franchise stores, and employs more than 14,000 associates in New York, Pennsylvania and Vermont. Schenectady, N.Y.-based Price Chopper/Market 32 consists of 130 supermarkets, employing more than 17,000 associates in New York, Vermont, Connecticut, Pennsylvania, Massachusetts and New Hampshire. The banners’ parent company, NGI, is No. 44 on The PG 100, Progressive Grocer’s 2022 list of the top food and consumables retailers in North America.