AI for Promotion Performance
Eversight Retail Pricing Suite
Request a Demo+12%
Revenue Growth
+28%
Incremental Margin
+7%
Higher Units
Continuously Drive Revenue and Profit Growth
The Retail Pricing Suite unlocks revenue growth by automated, continuous testing of untried promotions with your shoppers, instead of just optimizing history. The solution is a Software-as-a-Service “SaaS” platform that seamlessly integrates with your physical AND digital store network. It leverages Dynamic Promotions Planning, AI-Powered Experimentation, and an Easy Merchant Interface to drive business performance at scale.
The system is designed to seamlessly integrate with existing omni channel infrastructure and store operations processes.
Revenue Growth Performance Solution
Eversight Promotions Optimization unlocks transformative advantage by testing millions of untried offers with your real shoppers at scale. AI-Powered experiments are executed through a combination of testing at shelf – Programmtic Shelf Edge, and digital testing – Offer Innovation. Merchants are empowered to continuously improve business performance through a combination of intuitive workflow and automation.
- Dynamic Promotions Planning
- AI-Powered Experimentation
- Easy Merchant Interface
Goal Driven
Disparate data sources are harmonzied and vendor contracts are automatically ingested as needed. The system identifies events across the full promotional landscape that are declining in performance or that are due for a refresh in light of shifting market dynamics. The system flags opportunties to optimize promotions in favor of achieving your specific business goals.
Always Current
There is no longer an edge in relying on “average” elasticities extrapolated from limited historically observed price points to optimize promotions. With roughly 75% of shoppers changing at least some shopping habits since March 2020, COVID-19 further reinforces the limitations of historical analysis. Eversight is different, because our system tests untried promotions with your real shoppers in small experiments that continuously run at scale. Our AI engine allows traditional retailers to leverage their physical and digital store networks as powerful learning labs for these experiments.
Transparent
When a better offer is detected the system automatically adds it to the Smart Offer Bank for future use. At-Shelf Non-Advertised Promotions (also known as Temporary Price Reductions or “TPRs”) are programmatically optimized while Merchant attention is directed toward high impact opportunities for optimization across other promotional events – feature & display, loyalty etc.
How Eversight’s Retail Pricing Suite is Transforming the Grocery Landscape.
Eversight, sells predictive software that recommends price changes on items throughout the store. Historically, grocers changed price tags once a week largely in response to deals offered by local competitors, relying on whatever strategy worked in the past. But now shoppers can check offers instantly from their phones, so grocers need to move faster and look ahead, not backward.
The Best Promotions Solution For The Way Forward
In an Omni-Proof World Only One Thing Matters: Shoppers
And shoppers are online. Given this dynamic, competition in low growth markets is stronger than ever. So, how can you capture it? Bringing together digital and in-store capabilities, like dynamic pricing, enhances the retail experience and places you in front of the shopper wherever they are. This whitepaper highlights key steps to managing a seamless shopper experience in an increasingly intimate, yet infinite, post-omnichannel world.
Learn more about Eversight Retail Promotion Optimization
AI-Powered Experimentation: How it Works
Driving Efficient Mass Promotions and the Expansion of Personalization/Loyalty Investment
At the heart of any promotion optimization process are predictive models. Eversight’s predictive models are based on controlled in-market experiments that are automatically designed, deployed and evaluated, leveraging our patented AI technology. These experiments allow retailers to rapidly test untried promotional offers across small subsets of shoppers, at low risk, before deploying new offers across the broader network. Advances in computing power and AI unlock the possibility of testing millions of offer permutations, a task beyond human capability.
1. Programmatic Shelf Edge – Testing at Shelf
Eversight Promotions Optimization works to optimize promotions across the full promotional landscape – we acknowledge that’s a lot. We recommend that retailers start with the area that provides the highest returns for the least amount of effort. At Eversight, we’ve identified that At-Shelf Non-Advertised Promotions (Temporary Price Reductions or “TPRs”) represent a significant opportunity for efficiency gains.
Typical Retailer’s Sales Breakdowns
TPRs get less attention from merchants who are focused on the weekly ad. TPRs take away time that could be put towards more strategic work. To solve for this Eversight built Programmatic Shelf Edge. Retailers can put this system to work automatically ingesting vendor contracts for TPRs and optimizing offer structures in an automated, low touch way that delivers outsized returns on performance.
* At Shelf Non-Advertised Promotions are also referred to as Temporary Price Reductions (TPRs)
How an Experiment Works
1. Thousands of offer permutations are automatically created varying offer structure or “framing” of the offer since framing has a significant impact on promotional performance regardless of discount depth.
2. Balanced experiments of offers are automatically fielded to small groups of your real shoppers at the shelf edge continuously. Programmatic Shelf Edge is designed to seamlessly integrate with existing store operations, and paper tag change processes. The system can also work alongside other promotion optimization tools you may already have in play.
3. The system identifies the highest performing offers based on revealed shopper behavior throughout the experiments. The winning offers are automatically deployed at scale replacing out prior lower performing TPR promotions.
Ecosystem Integration
2. Offer Innovation – Testing via Digital Assets
Eversight Offer Innovation experiments are pushed to digital assets such as loyalty apps or email databases. Eversight can also power testing through our proprietary Klip’em network and via social media channels. Offer Innovation allows Merchants to put AI-Powered experimentation to work optimizing events across the full promotional landscape. Millions of offer variants are tested including offer structure, discount depth, product permutations, creative, call-to-action, claims languagae, and more. All of these variants are proveen to have an outsized impact on offer performance.
How an Experiment Works
Digital testing mirrors the flow of Programmatic Shelf Edge; however, your shoppers engage with offers via digital assets instead of at the physical shelf. While a retailer may choose to deploy either testing method alone, the combination of Programmatic Shelf Edge and Offer Innovation ensures that all promotional mechanics across the physical and digital store network are continuously optimized. The incremental dollars unlocked through this process can then be reinvested into expanding personalization and loyalty efforts using these same tools.
How Eversight’s Retail Pricing Suite is Transforming the Grocery Landscape.
Eversight, sells predictive software that recommends price changes on items throughout the store. Historically, grocers changed price tags once a week largely in response to deals offered by local competitors, relying on whatever strategy worked in the past. But now shoppers can check offers instantly from their phones, so grocers need to move faster and look ahead, not backward.
The Best Promotions Solution For The Way Forward
In an Omni-Proof World Only One Thing Matters: Shoppers
And shoppers are online. Given this dynamic, competition in low growth markets is stronger than ever. So, how can you capture it? Bringing together digital and in-store capabilities, like dynamic pricing, enhances the retail experience and places you in front of the shopper wherever they are. This whitepaper highlights key steps to managing a seamless shopper experience in an increasingly intimate, yet infinite, post-omnichannel world.
Learn more about Eversight Retail Promotion Optimization
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“The merchants still own the art: They are still the connection between the brand positioning, the price value perception, and they also own the execution. This technology gets us down that road much faster and with greater confidence.”Keith Knopf, CEO of Raley’s -
"Eversight's innovative pricing platform and methodologies are game changers. Through this strategic partnership, we are finding new solutions to delight our customers. We've enjoyed working with Eversight's team on our price optimization journey."Tom Henry, Chief Data and Analytics Officer
Eversight Partners
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How Eversight’s Retail Pricing Suite is Transforming the Grocery Landscape.
Eversight, sells predictive software that recommends price changes on items throughout the store. Historically, grocers changed price tags once a week largely in response to deals offered by local competitors, relying on whatever strategy worked in the past. But now shoppers can check offers instantly from their phones, so grocers need to move faster and look ahead, not backward.
The Best Promotions Solution For The Way Forward
In an Omni-Proof World Only One Thing Matters: Shoppers
And shoppers are online. Given this dynamic, competition in low growth markets is stronger than ever. So, how can you capture it? Bringing together digital and in-store capabilities, like dynamic pricing, enhances the retail experience and places you in front of the shopper wherever they are. This whitepaper highlights key steps to managing a seamless shopper experience in an increasingly intimate, yet infinite, post-omnichannel world.
Learn more about Eversight Retail Promotion Optimization
Getting Started
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BLUEPRINT
- Technical and business focused requirements gathering
- System configuration and testing
- At=Shelf Promotions process mapping
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RAMP UP
- Test automated systems
- Gather data for training model
- Refine system configurations
- Simulate optimization at scale
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SCALE
- At-Shelf Promotion optimization fully scaled
- Winning offer reports
- Value and impact quantification
Implementation
How Eversight’s Retail Pricing Suite is Transforming the Grocery Landscape.
Eversight, sells predictive software that recommends price changes on items throughout the store. Historically, grocers changed price tags once a week largely in response to deals offered by local competitors, relying on whatever strategy worked in the past. But now shoppers can check offers instantly from their phones, so grocers need to move faster and look ahead, not backward.
The Best Promotions Solution For The Way Forward
In an Omni-Proof World Only One Thing Matters: Shoppers
And shoppers are online. Given this dynamic, competition in low growth markets is stronger than ever. So, how can you capture it? Bringing together digital and in-store capabilities, like dynamic pricing, enhances the retail experience and places you in front of the shopper wherever they are. This whitepaper highlights key steps to managing a seamless shopper experience in an increasingly intimate, yet infinite, post-omnichannel world.
Learn more about Eversight Retail Promotion Optimization