Regional grocery chain optimizes store prices in real time.
Privately-owned Raley’s, which operates 129 stores in California and Nevada, is applying artificial intelligence (AI) technology to bring intelligent, dynamic pricing to its stores. Raley’s recently completed a pilot of the AI-based Eversight pricing suite, focused on optimizing multiple product categories across various strategic goals.
As a result, Raley’s is now deploying the exception-based AI platform across the enterprise. The system collects and analyzes data automatically and surfaces key data points and recommendations in high-impact areas. This data helps inform real-time human decision-making.
Leveraging the Eversight AI engine, Raley’s automatically tests prices and promotions across the store network, continuously delivering insights that the retailer can use to take immediate corrective action on pricing. The retailer can test different pricing strategies in the brick-and-mortar environment with real-time feedback, obtaining similar flexibility to optimize prices as e-commerce retailers.
Upon full deployment, Raley’s will utilize Eversight’s pricing technology to address high-impact categories of the store geography for its $3.2 billion in annual revenue.
“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, director of strategic pricing at 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.”