Second-hand retailer Savers Value Village has launched an AI pricing tool called ThriftIQ, which has been deployed in 58 stores and has priced over 25 million items.

Savers Value Village exclusively disclosed to CNBC that it is launching an AI pricing tool called ThriftIQ, designed to optimize product pricing and maintain price consistency and affordability. The tool has been deployed in 58 pilot stores and has already priced over 25 million items, a number expected to double by the end of this year. The company aims to provide customers with more predictable pricing while keeping average prices 40% to 70% below traditional retail prices. Mark Walsh, CEO of Savers, stated that the tool is not dynamic pricing, and once an item is priced and tagged, the tag price will not change. The company plans to roll it out to more U.S. and Canadian stores by early 2028.