Festival Foods Boosts Price Optimization Capabilities

Wisconsin indie expands partnership with Engage3

8/30/2023

Festival Foods depends on Engage3 for complete omnichannel data visibility through professional in-store audits and online web scraping, as well as Lighthouse, an AI-powered product linking module.

Festival Foods has renewed and expanded its partnership with Engage3 Powered By Dexi, which aims to help retailers and brands grow revenue and drive store trips by tracking and optimizing their price image. The expanded partnership adds Engage3’s Price Image Management capabilities to Festival’s omnichannel competitive intelligence program.

Engage3’s Price Image Management suite uses advanced data science and proprietary machine learning to identify and optimize the items with the greatest influence on customers’ price perception, generating price recommendations that spur revenue and margin growth while increasing customer loyalty.

“The customer is at the heart of everything we do at Festival Foods,” said Benjamin Plaza, Festival Foods’ manager of business analytics. “Engage3’s Price Image solution gives us unprecedented insights into customer psychology that help us deliver exceptional customer experiences while growing revenue and trips.”

Festival Foods depends on Engage3 for complete omnichannel data visibility through professional in-store audits and online web scraping, as well as Lighthouse, an AI-powered product linking module. Lighthouse created 50 million unique links for Engage3 customers in 2022 alone, at a 99.3%-plus customer acceptance rate.

“We’re happy to build on our previous success with Festival Foods and provide new tools to help them build trust and loyalty with their customers,” noted Edris Bemanian, CEO of Davis, Calif.-based Engage3. “The addition of Price Image Optimization gives Festival Foods a completely new way to balance customer engagement with bottom-line growth. On average, our customers see a 2% lift in trips and a five-point increase in margin.”

Engage3 supports more than $4 trillion in annual retail revenue globally and works with 350-plus retail and brand customers, including seven of the world’s top 10 retailers as ranked by the National Retail Federation.

Festival Foods employs more than 8,000 full- and part-time associates at 40 full-service supermarkets across the state of Wisconsin. The De Pere, Wis.-based grocer is No. 94 on The PG 100, Progressive Grocer’s 2023 list of the top food and consumables retailers in North America.