PRESS RELEASE – Davis, CA – July 20, 2021 – Engage3 Enhances Price Image Management Suite to help Independent Retailers track and optimize their Price Image at the local level in near real-time
“In our competitive environment, speed and accuracy of data is essential. Engage3’s Price Image Management Suite allows us to price retail with agility and confidence, raising us to an enhanced level of competitiveness and algorithmic pricing,
Darren Renwick, Sr. Fuel Procurement Manager
Engage3, which helps retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their Price Image, today announced the launch of its Price Image Management Suite for Independent Grocers and Convenience Stores. The Engage3 PIM Platform helps independent retailers track their competitive price position on Center Store, Perishables, Private Label and Fuel and optimize prices to maximize traffic and margin. Leading independent retailers including, but not limited to: Woodman’s Markets, Pyramid Foods, Carlie C’s, Yesway, Village Beach Market, and others have all selected Engage3’s Price Image Management Suite to help them monitor competitor’s prices and optimize price to increase revenue.
Independent retailers face the same pricing pressures as national retailers, but due to budget constraints many have had to rely on using their own store personnel to collect competitive prices and intuition to set prices. Through the Engage3 Price Image Management Suite, Independent Retailers now have access to highly localized competitive prices that are refreshed as frequently as hourly for high velocity items like fuel. Advanced AI and ML combines the retailer’s own data with rest of market competitive data to set optimized prices that maximize Price Image and drive increased traffic while protecting and growing margins.
Yesway, an independent Convenience Store chain, turned to Engage3 to track competitive fuel prices every hour to ensure competitive prices and to save their in-store associates’ time. “In our competitive environment, speed and accuracy of data is essential. Engage3’s Price Image Management Suite allows us to price retail with agility and confidence, raising us to an enhanced level of competitiveness and algorithmic pricing,” said Darren Renwick, Sr. Fuel Procurement Manager.
“We are thrilled to be able to bring the industry’s most complete competitive intelligence data and our next generation Price Optimization solution—that is proven to drive both trips and margin growth—to independent retailers,” said Edris Bemanian CEO Engage3. “Independent Grocers and Convenience Stores face a highly competitive environment, and we are excited to partner with them to help level the insights playing field with world-class competitive pricing intelligence and advanced shopper-based price optimization models.”
About Yesway
BW Gas & Convenience Retail, LLC d/b/a Yesway is headquartered in Fort Worth, Texas. Yesway has recently been named the “2021 Convenience Store Chain of the Year” by CStore Decisions and is currently ranked #19 on the “2021 CSP Top 202 Chains” list by total portfolio size. Yesway ranked #2 in year-over-year relative store growth on the Convenience Store News “2020 Top 20 Growth Chains” list, after being ranked #1 on the “2019 Top 20 Growth Chains” list, , was named a “2017 Chain to Watch” by Convenience Store Decisions, was awarded a Bronze for Loyalty & Advocacy in the 2018 Loyalty360 Customer Experience Awards, and its CEO has been named a “CSP 2020 Power 20 Deal Maker.” Yesway’s portfolio currently consists of 402 stores located in Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma, and Nebraska, including most recently, the Allsup’s Convenience Store chain. http://www.yesway.com
About Engage3
Engage3 was founded by the creators of KhiMetrics (acquired by SAP), who are credited with inventing the retail price optimization space. Engage3’s leadership team is composed of former KhiMetrics, SAP, Revionics, dunnhumby, KSS Retail, IBM/DemandTec and Nielsen executives.
Engage3’s Competitive Intelligence Management (CIM) is an AI-assisted, attribute-based, and data science-driven solution that provides accurate, granular competitive data (30 billion product pricing records collected annually in the U.S. and Canada) and like-item-linking visibility. CIM helps retailers reverse-engineer their competitors’ pricing and assortment strategies across channels, markets, and items. Price Image Management (PIM) is a next generation pricing solution that defines the impact of strategic pricing alternatives and unlocks pricing recommendations based on a retailer’s objectives for Price Image, sales, and profitability. Engage3’s Price Image management solutions help retailers understand and manage their Price Image and align it with their sales and profitability objectives using predictive modeling.
