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The McClatchy Co., publisher of such news brands as the Miami Herald, The Kansas City Star and The Sacramento Bee, among others, has made an investment in Engage3's ShoppingScout personal shopping app. The investment amount was not disclosed.
ShoppingScout is the next in an evolution of algorithm-based personal shopping apps that allows consumers to find information on brands and retailers, and access promotional offers via social, digital and print. ShoppingScout identifies shoppers' intent to buy and provides that information to partnering grocery retailers and manufacturers.
“Engage3 is bringing the same pricing transparency to retail that companies like kayak.com have bought to travel and McClatchy as a partner and investor sees the value of that process for consumers and its advertisers,” Ken Ouimet, CEO of Engage3, told Progressive Grocer.
According to Christian A. Hendricks, McClatchy's VP of interactive media, "Engage3 is at the forefront of transforming the retail shopping experience by empowering consumers with personalized, timely shopping information." She noted that the commerce platform's vision aligns "nicely with McClatchy’s commitment to providing our audiences with information relevant to their daily lives and connecting shoppers and advertisers.”
As we’ve seen, younger generations value convenience and personalization, and harness technology during the path to purchase more so than any other age group. As Millennial consumers gain more purchase power -- they're likely to outspend Boomers by 2017, according to a 2013 study by Berglass + Associates -- those companies that understand shoppers' purchase behavior, and leverage that information to keep them in-store, will likely remain on top.