Traditional pricing methods are becoming increasingly obsolete as shopping behaviors evolve, new competitors emerge and product assortments diversify. Price strategy is more crucial than ever in the competitive and fast-paced grocery industry. Historically, retailers have relied on manual processes, vendor recommendations, spreadsheets or other outdated systems to manage prices. However, as shopping behaviors evolve, new competitors emerge and product assortments diversify, these traditional methods are becoming increasingly obsolete. To remain competitive, grocers must embrace innovative and sophisticated solutions that are more accurate, responsive, localized and automated.