Raley's Adopts AI-Powered Intelligent, Dynamic Pricing
Raley's has partnered with AI-powered pricing and promotion software company Eversight to bring intelligent, dynamic pricing to its stores. The grocer's adoption comes after it piloted the Eversight Pricing Suite across multiple product categories.
The software uses Raley's store network as a learning lab, automatically testing prices and promotions across the store network for ongoing optimization and relevant insights for immediate action, all based on real-time shoppers at the shelf-edge.
“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. “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. We look forward to deploying Eversight’s pricing solution across the entire organization.”
Raley's new technology from Eversight has three components: a dynamic learning lab, where retailers collect and analyze real, current data; improved performance, continuously generating experiments that move prices up and down in real-time across the store network to drive sales and margins; and continuous coaching, automating the pricing process to help merchants make high-impact decisions.
"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. 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,” said Jamie Rapperport, co-founder and CEO of Eversight. “We are thrilled that a company as forward-thinking and customer-centric as Raley’s is already seeing the difference Eversight can make, and we look forward to a long and fruitful relationship.”
The new pricing comes less than a month after Raley's made another shelf-edge change, expanding its Raley's Shelf Guide to include 23 total icons and two additional categories.
Privately owned and family-operated Raley’s operates 129 stores under five banners: Raley’s, Bel Air Markets, Nob Hill Foods, Food Source, and Market 5-ONE-5. The company is No. 27 on Progressive Grocer’s 2019 Super 50 list of the top grocers in the United States.