Independent Store News Technology West

Eversight Pioneers AI-Powered Retail Pricing Optimization For Raley’s

Eversight logo

After completing a successful pilot of Eversight Pricing Suite, an AI-powered software, Raley’s is now deploying the platform enterprise-wide.Raley's logo

Headquartered in West Sacramento, California, Raley’s operates 129 stores under five banners—Raley’s, Bel Air Markets, Nob Hill Foods, Food Source and Market 5-ONE-5—and currently employs more than 11,000 team members across California and Nevada.

In an industry where brick and mortar retailers have historically relied on regression models to inform pricing, Eversight’s AI engine automatically tests prices and promotions across the store network to inform optimization on an ongoing basis, continuously delivering relevant insights designed for immediate action.

Eversight’s Pricing Suite was designed to deliver AI-powered, experimentation-based software that reads what happens in stores as it happens, with real shoppers at the shelf-edge. This gives brick and mortar retailers the same power to optimize price that is available to pure-play e-commerce retailers, enabling them to compete in an entirely new way. Raley’s was one of the first retailers to pilot this technology, and the company is already experiencing strong results. 

“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.”

Upon full deployment, Eversight’s pricing technology will address high-impact categories of the store geography for Raley’s $3.2 billion in revenue.

Eversight’s Pricing Suite was designed to help retailers become more agile and adaptive in an ever-fluctuating market. Its AI-based solution offers:

  • Dynamic Learning Lab: Retailers can now collect and analyze real, current data about different price points and constantly react to changes in the market. This empowers brick and mortar stores to be forward-looking in their pricing decisions instead of depending on historical data;
  • Improved Performance: The Retail Pricing Suite drives sales and margin improvement by continuously generating experiments that flex prices up and down in real-time across the store network, identifying price points optimized toward desired category objectives and arming brick and mortar with a way to compete against online retailers; and
  • Continuous Coaching: The AI-based system coaches merchants toward high impact decisions. It collects and analyzes data automatically and surfaces key data points and recommendations to help pricing teams be more strategic. Its exception-based software surfaces high-impact areas of opportunity for human decision making. By automating these processes, Eversight frees up team members to focus on leveraging physical stores as assets in today’s highly competitive landscape.

“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,” said Jamie Rapperport, co-founder and CEO of Eversight. “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. 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.”

About the author

Avatar

Treva Bennett

After 32 years in the newspaper industry, she is enjoying her new career exploring the world of groceries at The Shelby Report.

Featured Photos

Featured Video