Personalizing Price With AI: How Walmart, Kroger Do It

Who invests a database worth of intelligence into the price of a chocolate bar? Turns out, it could be more than half of all retailers. In 2020, 58% of top retailers said they planned to implement some form of AI pricing technology by the end of 2021, according to research conducted for Revionics, a pricing technology company. That compares with 34% in 2020. It's likely they are implementing the technology as pandemic-related inventory delays cause customer-infuriating price hikes: 90% of shoppers said in a recent survey that they plan to switch brands, seek lower prices or cut back on discretionary spending because of higher prices.