Last updated on December 15th, 2022 at 02:24 pm
DemandTec by Acoustic has announced a multi-year agreement with Northeast Grocery Inc., parent company to about 300 Price Chopper/Market 32 and Tops Friendly Markets across six Northeastern states.
Expanding upon an established relationship with Tops, DemandTec’s Unified Lifecycle Pricing, which includes pricing, promotion and collaboration, will be deployed by the companies to elevate their collective merchandising and pricing strategy.
“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, SVP of marketing for NGI’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.”
DemandTec Unified Lifecycle Pricing offers a unified suite of pricing, promotions, markdowns and vendor collaboration solutions. As a leader in price optimization for more than 20 years, the service partners with retailers around the globe.
“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, EVP of merchandising and marketing for NGI’s 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.”
NGI’s merchandising team and CPG trade partners will utilize DemandTec’s AI-driven platform to strategize, forecast, plan, optimize and execute pricing and promotion strategies for Tops and Price Chopper/Market 32, enabling companies to improve price perception and make smarter promotional decisions.
“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 continue 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.”
