Festival Foods, a Wisconsin-based grocery chain with 40 stores, is expanding its partnership with Engage3 powered by Dexi to implement the Price Image Management technology. This tool utilises artificial intelligence and machine learning to help retailers set prices on products to enhance sales and customer loyalty by analysing customer data to determine the ideal price for competitive products. The technology aims to bridge the gap between customer perception and actual pricing, providing retailers with insights into customer psychology. Customers have reportedly seen a 2% increase in traffic and a 5-point margin increase after adopting the price image tools. Festival Foods initially partnered with Engage3 in 2021 for competitive intelligence technology.
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