Engage3 Powers Pricing Decisions for the Majority of the World's Leading Retailers
DAVIS, Calif., Feb. 16, 2023 /PRNewswire-PRWeb/ -- Engage3 powered by Dexi, which helps retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their Price Image, today announced that 7 of the top 10 global retailers as ranked by the National Retail Federation (NRF) are now leveraging Engage3's Price Image Management suite.
2022 presented retailers with a set of unique price optimization challenges, with price inflation chief among them. For decades, retailers have relied on slow and inaccurate manual competitive price checks and dated econometric price elasticity models which couldn't keep up with double-digit inflation and changing consumer behavior. In 2023, 7 of the top 10 retailers have now turned to the Engage3 Price Image Management suite to help them track competitor price inflation and optimize prices to increase shopper loyalty while protecting their margins and driving long-term growth.
Engage3's Price Image Management suite combines the industry's most complete and comprehensive competitive price intelligence data to help retailers track how they are priced relative to competition with award-winning Price Image models based on the Nobel Prize-winning Efficient Frontier Theory to help retailers to optimize their prices and promotions. Engage3's Price Image Management platform helps retailers increase their competitive visibility by 2-3X, accelerate revenue growth by 2-3%, increase store trips by 1-2%, and expand gross margins by 5-8%.
Engage3 Price Image Management Recognition: Engage3's Price Image Management Suite Recognized as a Leader in Price Optimization by Both IDC and Retail Today
Engage3 2022 in Review: Defining the Future of Price Optimization
"We're honored that 7 of the 10 most influential retailers in the world have chosen the Engage3 Price Image Management suite to power their pricing and promotion strategy," said Edris Bemanian, Engage3 CEO. "The Engage3 Price Image Management suite serves retailers real-time competitive pricing visibility down to the item and store level. Unlike first-generation optimization solutions, our Price Image models optimize prices to drive both short- and long-term growth. Best of all, we're just scratching the surface of our innovation roadmap and will continue to make big investments in enhancing our pricing science. Our continued growth, industry recognition, and selection by 7 of the top 10 retailers in the world solidifies our position as the gold standard for retail price intelligence."
About Engage3 Powered By Dexi
Price optimization pioneers Ken and Tim Ouimet created Engage3 to revolutionize the way brands and retailers engage with their shoppers. Engage3 provides the industry's most comprehensive omnichannel intelligence solution, combining best-in-class AI-enabled web crawls, professional in-store audits, and self-serve in-store and online data collection into a single source of truth. Leveraging advanced algorithms and the Nobel Prize-winning Efficient Frontier theory, Engage3 helps retailers and brands track and optimize their Price Image to profitably accelerate revenue growth, drive incremental store trips, and increase margins.
Engage3 serves more than 300 customers in 182 countries, supporting $3 trillion in global retail revenue. Engage3's leadership team is composed of former executives from KhiMetrics, Mozenda, SAP, Revionics, dunnhumby, KSS Retail, IBM/DemandTec, and Nielsen. Engage3 is headquartered in Davis, California with 6 additional offices around the world.
Media Contact
Ben Roden, Engage3, 8018891135, [email protected]
SOURCE Engage3
Share this article