CPG Solutions

How our platform can help retail merchants gain valuable insights real time, as well as set competitive pricing for retailers' private label products

National branded products with similar contents are usually presented in various pack sizes, and/or formats to reflect each retailer’s unique value proposition. For example, CPG firms may choose to offer different pack sizes to retailers based on customers’ needs, e.g. Shoppers Drug Mart tends to carry smaller pack size items for convenience, vs. Costco who tends to carry larger pack size items for stock-up trips. Other times, the different formats are marketed for competitive reasons, or merely as a way to help retailers differentiate their pricing position.

The abovementioned practice often creates headaches for merchants and pricing leaders who want to continue to track and evaluate an overall category’s pricing position. At times, it also fosters the need for the equivalent private label SKUs to play “catch up” on pricing through ad-hoc promotions.

At Part AI, we have developed a proprietary methodology to match “equivalent” products across multiple retailers, leveraging supervised and unsupervised AI/ML models, as well as image recognition technology. As seen in the example below, “Brand X Triple-strength Omega-3 Softgels”, various UPCs, pack sizes and product images were presented to the consumers.

While most retailers are still trying hard to gather, and match competitors’ UPC codes beyond each retailer’s unique SKUs for “spot price checks”, Part AI provides a solution that can mass process tens of thousands of SKUs. A pricing index could easily be calculated through our platform for such “equivalent” products, or for a basket of core SKUs. Our team can also work with your merchants to assign weightings of each product and derive a comprehensive pricing index for each core category and update such metrics weekly.

Talk to our team about how we can support your growth.

The Part AI Team