Tops, Price Chopper parent expands advanced pricing and promotions
Northeast Grocery Inc. is bringing advanced pricing, promotion and collaboration to its Tops Friendly Markets and Price Chopper/Market 32 banners.
The grocery conglomerate is expanding upon a long-time partnership with DemandTec by Acoustic to deploy the DemandTec Unified Lifecycle Pricing solution to nearly 300 Price Chopper/Market 32 and Tops Friendly Markets across six Northeastern states.
Building upon an established relationship with Tops, DemandTec Unified Lifecycle Pricing will now be utilized by both Northeast Grocery banners i an effort to elevate their collective merchandising and pricing strategy.
[Read more: Price Chopper and Tops Market grocery chains to merge]
Northeast Grocery’s merchandising team and CPG trade partners will utilize DemandTec's artificial intelligence (AI)-driven platform to strategize, forecast, plan, optimize, and execute pricing and promotion strategies for Tops and Price Chopper/Market 32.
As a result, the company intends to enable both operating companies 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," said Diane Colgan, senior VP marketing for Northeast Grocery’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," said Glen Bradley, executive VP, merchandising & Marketing for Northeast Grocery’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 Acoustic. "Inflation and market uncertainty continues 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."
Based in Williamsville, N.Y., Tops Markets currently operates 150 grocery stores in New York, Pennsylvania, and Vermont, including five that are run by franchisees. Based in Schenectady, N.Y., Price Chopper/Market 32 operates 130 supermarkets in New York, Vermont, Connecticut, Pennsylvania, Massachusetts, and New Hampshire.