Kroger (KR) Expands Partnership with Google Cloud to Launch AI Shopping Assistants
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3h ago
0mins
Source: seekingalpha
- Partnership Expansion: Kroger's partnership with Google Cloud expands to deploy Gemini Enterprise, aimed at enhancing customer experience nationwide through AI personalization, which is expected to significantly improve the convenience of digital shopping.
- AI-Powered Shopping Assistants: The new system leverages generative AI to create integrated shopping and meal assistants, streamlining grocery planning and boosting customer engagement, which is anticipated to drive sales growth.
- Personalized Services: The shopping assistant generates shopping lists based on user needs, budget, and family preferences, catering to customers' immediate requirements when planning weekly dinners or seeking recipe inspiration, thereby enhancing customer loyalty.
- Strategic Implications: This technological upgrade aligns with Kroger's e-commerce transformation, demonstrating the company's commitment to digital innovation and aiming to enhance its competitive position in the market.
Analyst Views on KR
Wall Street analysts forecast KR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for KR is 78.07 USD with a low forecast of 70.00 USD and a high forecast of 85.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
8 Buy
6 Hold
0 Sell
Moderate Buy
Current: 59.790
Low
70.00
Averages
78.07
High
85.00
Current: 59.790
Low
70.00
Averages
78.07
High
85.00
About KR
The Kroger Co. is a food and drug retailer. The Company operates supermarkets, multi-department stores and fulfillment centers throughout the United States. It operates approximately 2,731 supermarkets, 2,273 pharmacies and 1,702 fuel centers in over 35 states and the District of Columbia while also operating online through a digital ecosystem to offer customers an omnichannel shopping experience. The Company also manufactures and processes food for sale in its supermarkets and online. It offers Pickup and Harris Teeter ExpressLane personalized, order online, pick-up at the store services at approximately 2,412 of its supermarkets and provides delivery, which allows it to offer digital solutions to substantially all of its customers. Its delivery solutions include orders delivered to customers at retail store locations, customer fulfillment centers and orders placed through third-party platforms. The Company also offers customer-facing apps and interfaces.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
