Tag: Engage3

10 Oct 2017

Engage3 Presents at Imperial Distributors’ Spring & Summer 2018 Seasonal Show

Imperial Distributors, a long time Engage3 customer & partner, is recognized throughout the Northeast, South Atlantic and Midwest states as a leader in both distribution and merchandising of supermarket non-foods. The Spring & Summer 2018 Seasonal show provided retailers with an opportunity to complement their food business with non-food offerings to drive sales & improve customer experience.

Ken Ouimet, Engage3 Founder & CEO, was a keynote speaker at Imperial Distributors’ seasonal show this year and discussed The Art & Science of Managing Your Price Image with attending merchandising & marketing executives.

Reach out to info@engage3.com to request information on the session and if you are interested in learning how to leverage competitive data and advanced analytics to compete more profitably.

Other presenters included Tom’s of Maine and Tebo Store Fixtures.
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Left to Right – (1) Ken, (2) Jack Wisniewski, Managing Director – Tebo and (3) Seamus Conlin, Food, Drug & Mass Agency Manager – Tom’s of Maine.
Left to Right – (1) Ken, (2) Jack Wisniewski, Managing Director – Tebo and (3) Seamus Conlin, Food, Drug & Mass Agency Manager – Tom’s of Maine.
08 Feb 2017

Bob Ramsey on Online Retail, Amazon Competition and more

BobRamseyChief Operating Officer Bob Ramsey has had over thirty years of experience working in the retail industry. He currently manages pricing strategy and operations at Bailey’s, an internet retailer based in Woodland, CA that specializes in a unique assortment of professional outdoor work gear and equipment. Bailey’s pricing strategy isn’t to charge customers at the cheapest price, but rather to create a relationship between the consumer, product and price that eliminates price as being the decision-making factor for purchases. Bob says Bailey’s “will be profitable and will make money, regardless of the prices it charges.”

Bailey’s has a dynamic relationship with competitive intelligence, as the retailer’s niche marketplace doesn’t have as much access to competitive data as larger grocery retailers. Bailey’s collects most of their customer data through their shipping procedures and by accessing and watching their Amazon sales. The internet retailer thrives on being able to differentiate from Amazon by printing in-mail ads and having convenient shipping processes. Bailey’s will also be the first customer of Engage3’s new “personalized promotions” platform, and Bob hopes to work with Engage3 to expand customer relationships.

To learn more about Bailey’s online platform, Bob’s experiences in pricing strategy, and Bailey’s relationship with Engage3, check out Bob’s full interview.

20 Dec 2016

Six Reasons Why Retailers Need Dynamic Competitive Intelligence Solutions: Part II

Traditional Comp Shop Programs Don’t Account for Omni-Channel

Omni-Channel is no longer just a buzz word. Millennials now represent over 50% of retail spending. Both they and your traditional shoppers expect retailers to meet them wherever they like to go and however they prefer to interact. As a result, retailers are increasingly testing and rolling out click-and-collect and delivery programs. According to IBISWorld, online grocery sales are expected to increase 9.5% annually to become a $9.4 billion industry in 2017.

With all this in mind, retailers are beginning to realize that they can’t just look at the in-store data anymore—in fact now it’s much more cost-effective to use online data and augment with directed in-store checks. It becomes even more critical that retailers leverage solutions that help them understand where they can responsibly leverage online data (because sometimes the assortments don’t fully match) and where to use in-store data. Retailers’ online vs. in-store strategies are constantly changing, and so a hybrid approach becomes even more critical to maintain complete visibility.

Inflexible Programs

Woman-StretchingEngage3 market data demonstrates that while many categories and departments are still being priced at a national level, there is a strong trend towards increasingly localized pricing. It’s these location-specific products and categories that can be detrimental to a retailer seeking true visibility, because KVI lists and comp shop budget dollars are not allocated and reallocated appropriately. Far too often we see that many retailers’ competitive intelligence programs still leverage static, banner-level lists by which margin opportunities are missed and price reputation is threatened. It’s imperative that competitive intelligence programs be able to respond to market changes and leverage real-time analytics to maximize ROI.

Tactical, Rather Than Strategic Focus

Most retailers today put too much emphasis on the competition’s prices as they change, rather than the strategies that are being employed at the root of those changes. The comp shop processes of old produced data that was far too old and stale by the time it was received, and thus it has historically been much more difficult to discern the competition’s pricing and assortment strategies. Retailers need the ability to take a step back, see the bigger picture, and truly understand the competitive landscape and strategies that are being deployed around them.

Wrong Measurements

Confused Measuring Panda

We’ve seen that most pricing departments are responsible for managing a budget, however, oftentimes they aren’t responsible for measuring the quality or exact value that the program returns. How does your team measure the effectiveness or value of your competitive intelligence program today? We’ve seen over time the incredible value of appropriate Key Performance Indicators (KPI’s), or measurements, being defined and maintained to evaluate the program. KPI’s may include find rates, accuracy, competitive price visibility, completion rates, Return on Investment, and more.

12 Dec 2016
1st place Engage3 winners (Ken Ouimet and Edris Bemanian), 2nd place winners from PocketPoints Mitch Gardner and Rob Richardson), 3rd place winner Ken Kruszka from SnapCheck and venture capitalist judges John Dougery, Arjun Chopra, Ankur Jain, and Lokesh Sikaria.

Venture Capitalists Grant Engage3 1st Place at TiE Pitchfest in San Francisco

On November 3rd, Engage3 took to the stage to pitch their business plan and traction to a panel of venture capitalists and an audience of Bay Area entrepreneurs at TiE Silicon Valley’s San Francisco Pitchfest event to ultimately secure first place after the presentation and Q&A.

Judges at this year’s event included: John Dougery, Managing Partner of Inventus Capital; Arjun Chopra, Partner at Floodgate; Ankur Jain, co-founder of Emergent Ventures; and Lokesh Sikaria, Managing Director of Moneta Ventures.

The event was sponsored by DLA Piper and moderated by Rajiv Dharnidharka, a partner of DLA Piper’s Silicon Valley litigation group. Other TiE sponsors include Adobe, Cisco, SanDisk Corporation, IBM, VMware, Zoho Corp, Discover, HP, Mayfield Fund, Bank of America, Ernst & Young, KPMG, Morgan Stanley, Silicon Valley Bank, and more.

TiE was founded in 1992 and currently has 13,000 members, including over 2,500 charter members in 61 chapters across 18 countries. The non-profit’s mission is to foster global entrepreneurship and claims an economic wealth creation estimate of $200 billion. TiE’s annual professional conferences, TiECon are regarded as the largest entrperneurial forum in the world and held in over 15 cities globally each year. Click here to learn more about TiE.