Instacart is acquiring AI-powered pricing and promotions platform Eversight in an effort to drive sales and growth for CPG brands and retailers amid inflation.
The platform is “tailor-made” for the grocery industry, allowing companies to test customized pricing and promotions directly with individual customers, at scale.
Eversight's capabilities will be available to Instacart’s retail and CPG partners across North America, including Canada.
CPG offerings will be part of the Instacart Ads product and technology suite. For retailers, insights will be available on the Instacart Platform through Carrot Insights.
“When it comes to grocery shopping, we know that every dollar matters. With higher inflation and the average cost of groceries up, we’re taking even more steps to make food and daily essentials more affordable,” Fidji Simo, CEO of Instacart, said in a statement.
Eversight’s CPG and retail partners include many of Instacart’s own partners, like Hershey’s, Coca-Cola and Raley’s.
“By joining Instacart, this technology can be scaled across online and offline pricing to help make buying groceries more affordable for everyone while also driving more value for CPGs and retailers,” David Moran, co-founder and chairman of Eversight, added.
In addition, Instacart has acquired another tech company days after announcing its the Eversight acquisition.
Rosie offers independent grocers branded e-commerce websites and mobile app capabilities that power order flow, fulfillment and consumer insights.
The company’s product features include shoppable weekly ads, store loyalty and rewards programs integrations, third-party fulfillment logistics integrations and payment processing.
Founded in 2013, the company supports hundreds of retailers in across 40 states in the U.S. Its customers will gain access to Instacart’s in-store offerings, such as Foodstorm’s order management system, Caper’s smart cart and checkout technology and Carrot Ads, to name a few.
With Instacart’s acquisition, Rosie’s capabilities will be available to the Canadian market.
“Our focus is on creating technology solutions that are tailor-made to meet the online and in-store needs of all grocers – whether they’re national chains or independently-owned and operated,” Chris Rogers, chief business officer at Instacart, said in a statement. “Local and independent grocers are so important to the grocery ecosystem. They have loyal customers, create meaningful job opportunities and serve as cornerstones of their communities.”
Moving forward, the Rosie team will lead Instacart’s business strategy and technology development for local independent grocers, as Instacart continues to build e-commerce and fulfillment solutions for this segment of the grocery industry