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…
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North State Grocery, a fully employee-owned and operated neighborhood grocery chain operating as Holiday Markets and Sav-Mor stores in Northern California and Southern Oregon, will increase their competitive visibility and sharpen their Key Value Items (KVIs) using Engage3’s pricing solutions.
North State Grocery, a fully employee-owned and operated neighborhood grocery chain operating as Holiday Markets and Sav-Mor stores in Northern California and Southern Oregon, will increase their competitive visibility and sharpen their Key Value Items (KVIs) using Engage3’s pricing solutions.
Engage3 will allow Heinen’s to achieve the most comprehensive competitive pricing visibility, while leveraging its ML-powered product linking capabilities to attain a contextualized view of their competitors’ equivalent items at the localized market level.
Thad Reuter of Progressive Grocer, in a recent article titled Getting Pricing Right in 2021, writes that price optimization will be undergoing significant changes in 2021 – and that retailers who don’t get on board will face problems sooner than later.
“Price optimization will need to shift to be able to deal with smaller trip sizes, households with less money to spend on each trip, shifts to private label, and smaller pack sizes,” Edris Bemanian, Engage3 CEO, predicts. “Historical price optimization models of increasing price to drive profit won’t work. Retailers will need to focus on the items that drive their Price Image to keep traffic up.”
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