Savers Value Village Launches ThriftIQ AI, Priced 25 Million Items at 58 Stores, to Double by 2026
Savers Value Village has launched ThriftIQ, an AI pricing platform that has already priced over 25 million items across 58 stores, with plans to double that footprint by end-2026. Developed with Kaizen Analytix, the tool reduces manual pricing steps and improves consistency, while keeping prices fixed after labeling. The company aims to maintain average prices 40-70% below traditional retail. In Q2, net sales rose 7.4% to $448.2 million, comparable-store sales grew 4.4%, and net income was $21.6 million. Savers also posted its third consecutive quarter of EBITDA growth.
Savers Value Village has introduced an artificial intelligence pricing platform called ThriftIQ, designed to optimize its in-store product pricing process. The platform uses AI to reduce the manual steps required to price men's and women's apparel, while improving pricing consistency.
ThriftIQ was developed in partnership with data and technology consulting firm Kaizen Analytix, using proprietary data accumulated by Savers over the past two years. The company said the tool is not dynamic pricing; once a product is priced and labeled, the price does not change. The company's goal is to keep average prices unchanged or lower, at 40% to 70% below traditional retail prices.
In its second-quarter earnings report, Savers reported total net sales of $448.2 million, up 7.4% year over year, and comparable store sales growth of 4.4%. Net income for the quarter was $21.6 million, or 14 cents per share, compared with $18.9 million, or 12 cents per share, in the prior-year period. The company also posted its third consecutive quarter of year-over-year EBITDA growth.
The company plans to expand ThriftIQ to more U. S. and Canadian stores by early 2028. Savers currently operates 375 stores and processes more than 1 billion pounds of reusable goods annually.