Savers Value Village has introduced ThriftIQ, an artificial intelligence platform developed to streamline and standardize pricing operations across its retail locations. The tool was created in partnership with data science consulting firm Kaizen Analytix and leverages proprietary datasets the company has accumulated over nearly two years. According to the company, ThriftIQ has already been deployed in 58 pilot locations and has priced more than 25 million items, with expectations to double that volume by the end of the year.
The platform is designed to enhance operational efficiency and customer experience while maintaining affordability. Chief Executive Mark Walsh emphasized that the tool produces measurable improvements in product sell-through rates, average transaction sizes, and new store performance metrics, alongside profitability gains. Walsh stated the tool does not employ dynamic pricing; once items are tagged with prices, those prices remain fixed. The company aims to keep average prices between roughly 40 percent and 70 percent below traditional retail prices while offering more predictable pricing to customers.
Savers plans to roll out ThriftIQ across additional U.S. and Canadian locations through early 2028. Walsh noted the tool is intended to enhance worker productivity rather than reduce labor requirements. The expansion comes as the secondhand retail sector experiences significant growth driven by broader consumer trends including increased price consciousness and growing mainstream adoption of thrift shopping across demographic groups.
The company reported strong financial results, with total net sales reaching $448.2 million in the second quarter, representing a 7.4 percent increase year-over-year. Comparable store sales grew 4.4 percent, while net income came in at $21.6 million, or 14 cents per share. Savers operates 375 stores and processes more than 1 billion pounds of reusable goods annually. Management has incorporated ThriftIQ benefits into updated guidance, projecting a return to high-teens adjusted EBITDA margins within three years.
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