In an effort to improve and optimize decision-making around pricing and promotions, Springdale, Ark.-based Harps Food Stores has implemented Daisy Intelligence Corp.'s artificial intelligence platform.
Harps launched the partnership with Daisy Intelligence in early 2017, when Daisy began working with the 87-store grocery chain to analyze years of collected transactional information to provide specific, actionable product and marketing recommendations to optimize Harp’s chainwide pricing and promotional efforts.
“We use Daisy Intelligence solution to analyze customer transactions and track the relationship between every item in every customer’s basket,” David Ganoung, VP of marketing at Harps, said in a news release. “Daisy’s ability to provide us with the associated sales on every item within the individual transactions helps us to promote the items most pertinent to our customers.”
Ganoung had previously spoken on the importance of getting pricing and promotions right in an interview with the Wall Street Journal in January, saying, “Our print circular is our largest advertising expense, and you want to be as efficient as you can."
“The modern retail sector is as competitive as ever, and within retail, the grocery category’s notoriously thin margins leave very little room for mistakes and bad decisions when it comes to promotions and pricing,” Gary Saarenvirta, CEO of Daisy, said in the release. “At the same time, as we know from direct experience with our wide-ranging customer base, AI is driving a revolution in the way merchandising decisions are made, and this is dramatically impacting client profitability.”