Engage3's Price Image Management Suite Launches into New Industries and is Recognized Again in 2023 by 2 Major Independent Analysts as a Price Optimization Leader
DAVIS, Calif., Dec. 20, 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 8 of the top 10 largest retailers in the world now rely on its Price Image Management Suite to power their pricing intelligence and to recommend and set optimal pricing strategies.
Following the company's continued R&D investments into its Price Image Management Suite, the product's positive impact on customers' pricing strategies, and its increasing market share, two independent analyst firms separately recognized Engage3 as a Leader in Price Optimization for the fourth and second year respectively in a row. Engage3's data harvesting platforms received three additional independent recognitions in 2023.
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"Pricing remains the most powerful lever on the P&L," said Edris Bemanian, CEO of Engage3. "As such, it remains our distinct privilege to be trusted by leading retailers across the globe to power their pricing strategies. The recognition we received in 2023 for our product innovation is a testament to the value we are driving for our customers. Our retail customers, for example, see a 340% improvement in competitive visibility versus their legacy programs and a 5-8% increase in gross profit dollars while our Brand customers see an 8% increase in market share and a 5% increase in brand loyalty. Though we are proud of our progress, we are even more excited about what's ahead for us and our customers in 2024."
Engage3's Omnichannel Intelligence Module—announced in February and part of the company's Price Image Management Suite—is already trusted by many of the world's largest brands across the globe. The world's largest players across the following industries are also leveraging Engage3's solutions: Finance, Healthcare, Private Equity, Media & Entertainment, Property Tech, Accounting, Fast Food, and more.
"Data is the lifeblood that powers AI algorithms," said Anup Doshi, PhD, CTO of Engage3. "In support of our customers, we more than doubled the amount of data flowing through our platforms on a year-over-year basis, pushed the boundaries of generative AI in our data harvesting and product linking algorithms, and optimized our infrastructure to improve time-to-data and time-to-insights for our customers. In 2024, we will be deploying significant enhancements to our Price Image promotional targeting capabilities that further enhance mass market, targeted, and personalized offers."
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About Engage3 Powered by Dexi
The price optimization pioneers behind KhiMetrics (acquired by SAP in 2006) created Engage3 to revolutionize how brands and retailers engage with their shoppers. Engage3 provides the industry's most comprehensive omnichannel competitive 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 over 300 customers in 182 countries, including 8 of the world's top 10 retailers, and supports over $4 trillion in global retail revenue. Engage3's leadership team comprises former executives from KhiMetrics, Mozenda, Dexi.io, SAP, Revionics, dunnhumby, KSS Retail, IBM/DemandTec, and Nielsen.
Media Contact
Katrina Marie Odsinada, Engage3, (530) 220-1102, [email protected], www.engage3.com
SOURCE Engage3
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