Northeast Grocery, Inc. Selects DemandTec by Acoustic as Lifecycle Pricing Platform for its Operating Companies

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Dec 14, 2022, 09:00 ET

Pricing and promotion solutions to increase value for customers at Tops Friendly Markets and Price Chopper/Market 32 locations across the Northeast

BOSTON, Dec. 14, 2022 /PRNewswire/ -- DemandTec by Acoustic, a pioneering leader in retail pricing, promotions, and markdown optimization technology, today announced a multi-year agreement with Northeast Grocery, Inc. (NGI), parent company to nearly 300 Price Chopper/Market 32 and Tops Friendly Markets across six Northeastern states. Expanding upon an established relationship with Tops, DemandTec's Unified Lifecycle Pricing, which includes Pricing, Promotion, and Collaboration, will now be deployed by both operating companies to elevate their collective merchandising and pricing strategy.

NGI's merchandising team and CPG trade partners will utilize DemandTec's AI-driven platform to strategize, forecast, plan, optimize, and execute pricing and promotion strategies for Tops and Price Chopper/Market 32, enabling both operating companies to improve price perception, make smarter promotional decisions, and continue to serve their customers with the best products at attractive price points.

"DemandTec by Acoustic's solutions have transformed Tops' pricing and promotional strategy, enabling collaboration with suppliers and trade partners in a highly efficient and consistent manner," said Diane Colgan, SVP Marketing for NGI's shared services team. "We look forward to expanding upon these successes to deliver increased value to both Tops' and Price Chopper/Market 32's loyal customers."

"After reviewing options to expand our support for supplier collaboration, pricing, and promotions, we selected DemandTec by Acoustic's suite of tools as the best fit for our needs," said Glen Bradley, EVP Merchandising & Marketing for NGI's shared services team. "The AI-driven solutions will improve our team's efficiency and effectiveness in pricing and promotional decisions with the ultimate goal being improved value for our shoppers."

"As Northeast Grocery, Inc. aims to drive more value for its customers across the Tops and Price Chopper/Market 32 brands, we are excited to support its pricing and promotion strategy," said Dennis Self, CEO of Acoustic. "Inflation and market uncertainty continue to impact consumers' price perception, and promotion expectations. Consumers are looking for more value and an effective pricing strategy is at the heart of how to meet customer expectations while keeping pace with turbulent market conditions. Now, these two grocery chains can scale and optimize pricing more effectively using a single, unified platform to make smarter pricing decisions with AI-powered decisioning and recommendations."

DemandTec Unified Lifecycle Pricing offers a complete, unified suite of Pricing, Promotions, Markdowns, and Vendor Collaboration solutions. As a pioneer in price optimization for over 20 years, DemandTec by Acoustic partners with leading retailers around the globe.

About Tops Markets

Based in Williamsville, NY, Tops Markets currently operates 150 grocery stores in New York, Pennsylvania, and Vermont, including five that are run by franchisees. As the largest private, for-profit employer in Western New York, with over 14,000 associates, the company is dedicated to providing sustainably sourced, high-quality products, while helping its communities flourish via support for programs that eradicate hunger and disease, educate youth and reduce environmental waste and energy consumption. For more information, visit www.topsmarkets.com.

About Price Chopper/Market 32

Based in Schenectady, NY, Price Chopper/Market 32 operates 130 supermarkets, employing more than 17,000 teammates in New York, Vermont, Connecticut, Pennsylvania, Massachusetts, and New Hampshire. Founded by the Golub family in 1932, the company prides itself on longstanding traditions of innovative food merchandising, cutting edge brand development and store design, leadership in community service, and cooperative employee relations. For additional information, please visit www.pricechopper.com.

About DemandTec by Acoustic

A pioneering leader for decades, DemandTec continues to usher in the new era of retail pricing technology. With its AI-powered pricing, promotions, markdowns, and collaboration solutions, CPG and retail partners can balance real-time shopper demand with business objectives to drive sustainable, profitable revenue growth. To learn more, visit www.demandtec.com.

About Acoustic, L.P.

Acoustic, L.P. helps businesses close the digital experience gap by giving them a holistic view into the customer experience and enabling them to deliver personalized experiences based on consumer needs and preferences. The Acoustic portfolio of companies helps businesses across industries to grow customer lifetime value with award-winning technology and unbeatable client success teams. Learn more about the Acoustic portfolio at www.acoustic.com.

SOURCE Acoustic, L.P.