Coborn’s Inc. has selected the Revionics AI Pricing Platform to optimize strategy across its family of supermarket brands.
Coborn’s recently embarked on a multipronged growth strategy focused on expanding its core grocery business, acquiring new locations and developing modern, differentiated retail experiences such as the new Coborn’s Market & Table prototype.
To maintain competitive price perception and support its unique assortment across different store formats and markets, the retailer sought a sophisticated, unified pricing solution.
Coborn’s chose the Revionics AI Pricing Platform, which includes solutions for base price and promotions optimization, to move beyond highly manual and traditional pricing practices in favor of a modern and data-driven approach.
The platform’s advanced, built-for-retail artificial intelligence will enable Coborn’s to optimize prices at every level, including product, key value item groups, zones and categories, with reporting on the impact and value generated by price changes.
The system will maximize promotional performance by planning, forecasting, managing and measuring promotions with greater accuracy and confidence, even for new and complex offers.
The technology will elevate value perception by accurately forecasting customer demand and price sensitivity to ensure optimal pricing and positive price image across all banners.
The platform will support growth trajectory by scaling pricing operations efficiently to manage a growing portfolio of stores, varying market conditions and diverse store concepts.
“Delivering freshness and value to our communities has been our mission since 1921,” said Scott Winburn, senior director of pricing strategy at Coborn’s. “As we accelerate our growth journey – which includes operating more banners in expanded markets – our pricing strategy must be agile, localized and customer-centric.
“In this fast-paced retail environment, you’re either innovating or you’re getting passed by those that are. For Coborn’s to be successful for another 100 years, we recognize that advanced technologies – including AI for pricing and promotion – are essential for delivering the best possible experience to our guests.”
Science-based approach tailors strategy by market
Winburn continued, “With Revionics’ AI Pricing Platform, we can tailor our pricing strategies to reflect guests’ unique preferences and buying patterns across all our banners and communities.
“By bringing more science, scale and precision into our processes, Coborn’s will become even more effective at ensuring we’re priced right on the items our guests care about most.”
With Revionics’ fast-learning AI platform, retailers can streamline and automate pricing decisions across locations, products and formats. Revionics’ technology empowers retailers to improve their price image, increase market share and outprice competitors with confidence.
Winburn cited Revionics’ transparent science, expertise in the grocery sector, proven ROI of its solutions and willingness to collaborate on the price optimization journey as key factors in the decision.
“Coborn’s rich history and current investment in dynamic growth, driven by their focus on value and meaningful guest experiences, make them an ideal partner for Revionics,” said Jeff Cashman, general manager at Revionics.
“Their team understands that modern grocery success relies on best-in-class AI to navigate complexity. We are proud to provide the pricing science that will enable Coborn’s to balance customer loyalty, competitive positioning and profitability across their impressive retail portfolio.”
Revionics LLC, an Aptos Company, provides enterprise retailers around the world with science-based solutions for pricing, promotions and markdowns. The Alpharetta, Georgia-based company serves as a partner for retailers across a variety of industries and markets.
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