Savers Deploys AI Pricing in 58 Stores as It Rejects Dynamic Price Changes
Updated
Updated · Gizmodo · Aug 8
Savers Deploys AI Pricing in 58 Stores as It Rejects Dynamic Price Changes
3 articles · Updated · Gizmodo · Aug 8
Summary
58 Savers stores in the U.S. and Canada are now using ThriftIQ to price secondhand goods, with the chain saying tagged prices do not change after items hit the floor.
ThriftIQ replaces workers’ subjective condition grading with a model that uses brand, seasonality and sell-through data, which executives said makes pricing more consistent and easier to execute.
Pilot stores showed gross profit growth about 100 basis points above non-pilot locations, while average prices were the same or lower and goods still ran 40% to 70% below traditional retail.
The rollout comes as AI pricing faces public backlash—68% of Americans worry surveillance pricing will raise costs—and after criticism in Canada over some Savers items priced above comparable new goods.
Savers, which operates 375 stores, said the tool supports second-half net sales guidance of $1.77 billion to $1.79 billion and comparable-store growth of 3% to 4%.