Technology
Swedish grocer extends price optimization effort
May 14, 2021
Coop, a top grocer in Sweden, is extending its technology strategy regarding price management and optimization given rewards in both profit and benefits to shoppers.
The retailer launched the technology from DemandTec in 2012 and said the price optimization has delivered engaging prices across its 800 nationwide stores, according to a press release.
"We genuinely value our multi-year engagement with DemandTec optimization science to craft prices that contribute to our market share, while also returning margins that enable us to reward member-owners and invest strategically in the business. We look forward to continuing a strong and high-impact relationship with the DemandTec team in the years ahead," Coop Price and Space Director Fredrik Hermansson said in the release.
Coop stores are co-owned by 3.5 million members in 29 consumer associations. All surplus created in the business goes back to the members or is reinvested in the business. DemandTec, a strategic business unit of Acoustic, provides AI automated lifecycle pricing.
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