View the complete article at Winsight Grocery Business.
Raley’s has brought artificial intelligence to pricing not to necessarily to go toe-to-toe with competitors, but to differentiate from them, President and CEO Keith Knopf said.
Speaking in a presentation at the National Retail Federation show in New York, Knopf described how the West Sacramento, Calif.-based food retailer is using machine learning algorithms from partner Eversight to help manage its price perception amid larger, and often cheaper, competitors while optimizing revenue by driving unit share growth and margin dollars.
Raley’s has been working with Eversight for about four years, and has since invested in the Palo Alto, Calif.-based provider of AI-led pricing and promotion management.
View the full article at Winsight Grocery Business for more on why Knopf believes that it’s in manufacturers and retailers best to make pricing personalized and relevant.