AI-Powered Pricing Company Credits 9 Years of Growth to Product Innovation and Doubles Down on Vision for Personalized Pricing
DAVIS, Calif., Aug. 13, 2024 /PRNewswire-PRWeb/ -- Engage3 powered by Dexi, a leader in helping retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their Price Image, proudly announces its recognition as one of America's fastest growing companies for the 9th year in a row across the National and Regional lists. This accolade coincides with the expansion of Engage3's innovative patent portfolio covering the company's Personalized Pricing AI Commerce System.
Celebrating a Decade of Growth and Innovation
"Congratulations to our team for their unwavering dedication to our growth and a heartfelt 'thank you' to our customers for their partnership and trust, which make awards like these possible," said Edris Bemanian, CEO of Engage3. "Our expanded patent portfolio, continued investments in our Price Image Management Suite, and ongoing breakthroughs in our AI capabilities underscore our commitment to helping customers achieve their financial and customer loyalty objectives. Retailers leveraging our Price Image capabilities typically see 2-4% revenue growth, 1-2% traffic gains, 5-8% margin improvement, and 2% price perception increases. These achievements are a testament to our innovative Price Image science and seamless integration with our competitive intelligence capabilities."
Transforming Trade Promotions with Personalized Pricing
"Over $100B is spent annually in the U.S. on trade promotions," said Tim Ouimet, Engage3 Co-Founder. "However, research indicates that 50-75% of this spending is ineffective due to poor planning and execution, inadequate targeting, and a lack of effective measurement and analysis. Our expanded patent portfolio and advanced personalized pricing capabilities are poised to transform how trade promotions are managed by leveraging individual Price Image drivers and targeted personalized messaging to deliver promotions that are both relevant for shoppers and profitable for the retailers and brands funding them."
More News & Thought Leadership from Engage3:
- Retail Technology Innovators Select Engage3 to Power their Pricing Intelligence: Qsic and SetSight tap into Engage3's Pricing Marketplace to Deliver Integrated Pricing and Assortment Insights to their Customers
- Engage3 Continues Expansion: Now Supports 8 of the Top 10 Retailers in the World
- Innovation Table: Mastering Price and Purpose with Mark Semprini
- Innovation Table: Leadership, Culture, and Innovation with John Gomez
- Innovation Table: The Sociology of Competitive Intelligence and Navigating the Pricing Landscape with Scott McNeely
- Innovation Table: Creating Value for the Customer with Juan Rodriguez
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. In all, this year's Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
"One of the greatest joys of my job is going through the Inc. 5000 list," says Mike Hofman, who recently joined Inc. as editor-in-chief. "To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year's honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce."
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.
More about Inc.
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.'s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit http://www.inc.com.
Media Contact
Katrina Marie Odsinada, Engage3, (530) 220-1102, [email protected], www.engage3.com
SOURCE Engage3
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