In the age of digitalization and eCommerce, shoppers are inclined toward retailers offering convenience and competitive prices, forcing brick and mortar retailers to change their approach to focus on dynamic and transparent pricing. To keep their head above water in today’s cut-throat market, retailers and consumer packaged goods (CPG) companies must keep themselves abreast of the pricing and promotion trends in the market. As the legacy method of regression for price optimization and promotion proves to be obsolete due to the use of stale data, leading brands and retailers are turning toward more effective means to uncover price-points and promotions. Eversight is an innovative company delivering solutions to relieve retailers of their pricing maladies. Leveraging artificial intelligence (AI) and experimentation, Eversight provides smart, dynamic pricing and targeted promotions. “We uncover price points and promotions which are counterintuitive, helping retailers and CPG companies to strategize their investments in resources and pricing,” says Anis Hadj-Taieb, SVP, Retail and Customer Success at Eversight.

Eversight leverages AI and Experimentation to deliver higher value to both retailers and their customers. Based on this unique strategy, Eversight’s solution provides effective price optimization results through a continuous cycle of experimenting, learning, and adjusting the price. The solution works by grouping subsets of stores into clusters, where each cluster is assigned a different pricing pattern— higher or lower—for various items. AI built into the solution analyzes customer reactions to pricing change, making it easy to evaluate the performance of the individual items in each cluster. This experiment is repeated by rotating the pricing pattern between the clusters to attain an unbiased outcome, allowing Eversight to create its own data to recommend the optimum price.