Instacart Acquires Pricing and Promotions Platform Eversight 

Instacart Preps for IPO Amid Consumer Pivot

Grocery delivery platform Instacart has acquired Eversight, a pricing and promotions platform for consumer packaged goods (CPG) brands and retailers.

According to a Thursday (Sept. 1) news release, the acquisition will help brands and retailers gain more value, while also letting customers enjoy greater savings.

“When it comes to grocery shopping, we know that every dollar matters,” Instacart CEO Fidji Simo said. “With higher inflation and the average cost of groceries up, we’re taking even more steps to make food and daily essentials more affordable.”

The release says Eversight’s artificial intelligence-powered, experimentation-based platform lets CPG brands and retailers test customized pricing and promotions with individual customers, at scale. This automates processes that have typically been manual and time consuming.

“With the company’s technology for CPG brands, Eversight surfaces real-time, custom insights into the promotions that best resonate with customers and impact their buying decisions,” Instacart said. “For retail partners, Eversight lets them use their physical and digital storefronts to run ongoing individualized micro price point experiments at scale.”

The company said Eversight’s CPG offerings will be part of the Instacart Ads product and technology suite. Retailers can access Eversight’s technology through Carrot Insights, Instacart’s data dashboard.

See also: While 73% of Shoppers Buy Fresh Groceries, Just 57% Purchase Packaged Food

Recent research by PYMNTS found that shoppers are seeking more cost-effective options as food prices climb. However, that doesn’t mean replacing restaurant meals with prepared-food alternatives, but rather fresh meat and vegetables.

Of the 83% of shoppers who bought groceries in July, 73% purchased fresh meat or vegetables in their most recent grocery shopping, while just 57%, bought prepackaged products.

Read more: Consumers Increasingly Expect Prepared Meals at the Grocery Store

In addition, only 37% bought prepared food. However, this category is on the rise, with the share up substantially from the 30% of consumers who had purchased prepared food during their most recent grocery store visit back in November 2021.

And as PYMNTS noted, Instacart has stayed ahead of this curve, launching its Ready Meals Hub, which offers cooked foods from several top grocers, back in January.