Fleet Farm Selects Engage3's Solutions to Power Pricing Strategy
DAVIS, Calif., Jan. 20, 2021 /PRNewswire-PRWeb/ -- Engage3, which helps retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their Price Image, has today partnered with Fleet Farm, a leading Mid-Western retail chain of high-quality, value-priced merchandise and services, to enable expanded omni-channel competitive visibility and analytics through its cloud- and mobile-based Competitive Intelligence Management (CIM) solution.
To maximize their competitive pricing visibility, Fleet Farm will leverage Engage3's ML-powered product linking capabilities to gain contextualized visibility. This capability links their unique item assortment to each competitors' equivalent items at the localized market level. CIM will allow Fleet Farm to leverage the contextualized item catalogue to track their price position and identify risks and opportunities to improve Fleet Farm's Price Image.
"Engage3 has pricing expertise and cutting-edge science and technology capabilities that align perfectly with Fleet Farm's pricing strategy and our roadmap for success," said Randy Mangum, Fleet Farm's Sr. Director of Pricing & Data Integrity. "I've had great success using Engage3's competitive intelligence solutions over the years and am looking forward to introducing it into our day-to-day activities and in support of our long-term pricing strategy."
CIM is currently in use at 6 of the 10 largest retailers in North America and provides the most comprehensive view of competitive pricing activity to retailers. By combining in-store data collection, online webscrapes, and ad-hoc data collection within the Missions App, retailers can see store- level pricing for all of their competitors.
"Fleet Farm has played a tremendous role in their communities since 1955, taking great care to curate their assortment to the needs of their loyal customers," said Edris Bemanian, CEO of Engage3. "We are honored to be chosen as their partner in enhancing their analytics capabilities and Price Image."
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.
International Data Corporation (IDC) recently positioned Engage3 as a Leader in its MarketScape Vendor Analysis Report for changing the game and leading the next frontier in strategic pricing solutions. Engage3 has also been listed in the Inc. 5000 for 4 years in a row since 2017.
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.
More information is available at http://www.engage3.com.
About Fleet Farm
Fleet Farm has served hardworking Midwestern families since 1955, offering a unique mix of high-quality, value-priced merchandise and services for active, outdoor, suburban and farm communities. Customers can find fishing, hunting and outdoor products, auto parts, farm and pet supplies, home improvement and household goods, clothing and footwear, toys and food, plus services like gas, car wash and auto repair. Fleet Farm has 47 stores located across the Midwest. The company's headquarters is in Appleton, Wisconsin.
For more information, visit http://www.fleetfarm.com.
Media Contact
MARIELLE FONG, Engage3, 9166903664, mfong@engage3.com
SOURCE Engage3
