North State Grocery is analyzing the prices of rival supermarket chains at a granular level.
The company, which operates 22 stores under the Holiday Markets and Sav-Mor Foods grocery banners Northern California and Southern Oregon, is leveraging artificial intelligence (AI)-based price optimization solutions from Engage3. North State Grocery seeks to expand its coverage of competitor pricing, as well as further optimize the key value items (KVIs) which are most critical to driving traffic to its stores.
Another regional retailer, Wisconsin-based rural lifestyle chain Fleet Farm, recently started utilizing Engage3's machine learning-powered product linking capabilities to gain contextualized visibility. Fleet Farm is gaining a view of store-level pricing for all of its competitors, tracking its price position, and identifying risks and opportunities to improve its price image.
"Our Holiday Markets are committed to serve our communities by offering the highest quality and largest selection of natural, organic, traditional, gourmet, and prepared foods at an everyday fair value,” said Paul Buzzell, grocery director for North State Grocery. “Our Sav-Mor Foods are strategically designed to be the everyday low price neighborhood grocery store. We are thrilled to leverage Engage3's analytics to identify the items that matter most to our shoppers of both banners. Their comprehensive pricing solutions will help ensure that we are priced right and are taking care of our loyal customers."
"North State Grocery's adoption of big data analytics solutions is a testament to its commitment to its value proposition and their customers," said Edris Bemanian, Engage3 CEO. "We are proud to collaborate with Paul and his team to provide millions of prices across their key competitors and help them optimize their key value drivers."