SAN FRANCISCO, CA - Instacart is boosting its technological prowess with the acquisition of Eversight, an AI-powered pricing and promotions platform for CPG brands and retailers. Through this acquisition, these companies can continuously test customized pricing and promotions directly with their individual customers, at scale.
“Giving everyone access to the food they love is core to Instacart’s mission, and when it comes to grocery shopping, we know that every dollar matters. With higher inflation and the average cost of groceries up, we’re taking even more steps to make food and daily essentials more affordable,” said Fidji Simo, Chief Executive Officer of Instacart. “By combining Eversight’s leading pricing and promotions capabilities with Instacart’s world-class teams and technology, we’re positioned to deliver even more value to our brand and retail partners, while also creating more opportunities for customers to maximize their savings both in-store and online.”
By automating processes that have traditionally been highly manual and time-consuming, brands and retailers continue to engage in shopper-centric optimization.
Eversight lets retail partners use their physical and digital storefronts to run ongoing individualized micro price point experiments at scale.
“We founded Eversight to help brands and retailers be more agile and consumer-centric with their pricing and promotions decisions. This is particularly critical in today’s high inflation environment, with rapidly changing shopping behavior,” said David Moran, Co-Founder and Chairman of Eversight.
Eversight’s deep expertise in pricing and promotions combined with Instacart’s scale, partnerships, and machine learning technology provides an opportunity to transform pricing strategies and promotions for Instacart’s partners.
“As a grocer serving 112 communities, we take our responsibility to provide affordable, fresh foods seriously, especially at a time when we know our customers are aiming to stretch their food dollars. Eversight’s pricing insights position us to meet our customers’ needs while creating value for our business,” said Tom Henry, Chief Data Officer and Deputy Chief Information Officer for Schnuck Markets. “We’re excited for Eversight to join Instacart, another one of our long-standing, trusted technology partners. We’re confident that by combining their efforts, they will enhance their capabilities, which will help us better engage our customers, grow our business, and nourish people's lives.”
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Although it is uncertain how this will affect produce pricing data–or if the partnership will extend to include the category—it is nevertheless intriguing to speculate on the possibilities in the fresh sector.
