Hivery news

The latest from HIVERY....
news

HIVERY is mentioned in Valuer.ai's article The 50 Best Startup Cities in 2021!

May 17, 2021 | By

Valuer.ai

Australia is a vibrant country with exciting energy, and the local startup scene is booming. Australia’s economy is strong. It’s the world’s 13th-largest economy with the ninth-highest income. Sydney is the largest of the Australian startup hubs with 35% of the nation's startups, followed by Melbourne. The area is filled with incubators and accelerators with one spreading 11 floors and 16,722 square meters. Best of all, it's right in the heart of the city. HIVERY is mentioned in Valuer.ai's article The 50 Best Startup Cities in 2021! Read more
Read more Right Arrow
news
HIVERY, provider of retail simulation & optimization solutions, highlighted as involving new methods in precision category management  by Coresight Research
May 12, 2021 | By

HIVERY

HIVERY (Sydney, Australia) has been highlighted as a leader in providing category management simulation and optimization—using its novel approach to leveraging store-level data—by Coresight Research, a research and advisory firm specializing in retail and technology.  Coresight Research’s report on precision category management features discussion of HIVERY’s Curate solution, which leverages a novel store-level (bottom-up) approach, powered by advanced machine learning (ML) and data science (DS) technologies originated in laboratories run by the CSIRO and its data innovation affiliate, Data61 HIVERY’s solution effectively analyzes store-level sales data to discover “latent shopper segments”— purchase behaviors across different shopper segments — which cannot be seen by traditional methods used today. According to a Coresight Research survey of 200 global grocery retail decision-makers, more than half of grocery retailers globally (51%) lose 5–10% of sales due to poor in-store execution, including infrequent stock replenishment, non-compliance with planograms and cannibalization of demand due to the inability to leverage data and effective analytical tools. Global retailers such as Walmart have also started testing new, small-format stores, significantly increasing the importance of localization in product assortment planning to respond to consumer purchasing trends and behaviors. Coresight Research’s report highlights that HIVERY leverages store-level data, taking consumer preferences and merchandising rules into account at the store level, to help retailers better understand incremental revenue opportunities at each store. HIVERY Curate can generate optimized assortment and space recommendations as well as generate planograms at both cluster and store level. Because HIVERY Curate’s engine is able to be instructed with both assortment and space rules, the optimized assortment actually fits within the exact space available at each store. This is what truly unlocks store-level assortments and can then be rolled up into any cluster count. This report follows HIVERY’s recent listing in global agency Gartner’s Market Guide for Retail Assortment Optimization Applications in Merchandising. A shopper-centric, store-level approach to assortment and space planning can help CPG companies and retailers to ensure effective and rapid retailer-supplier collaboration and decision-making augmented by ML/DS. This improves the shopper experience, increases overall sales and builds brand loyalty. The Coresight Research survey found that increased sales conversion emerged as the topmost benefit of effective retail merchandising. Deborah Weinswig, CEO and Founder of Coresight Research, said there was much excitement about the discovery of new disruptive companies such as HIVERY that are looking for problems to address category management in retail chains through speed, accuracy, flexibility, extending bottom up and localizing assortment of consumer goods. “There is a clear gap between shopper expectations and retailers’ ability to understand or fulfill them. A data-driven approach to localization and product assortment planning is critical in today’s new retail environment. HIVERY’s ML/DS solutions can deliver significant benefits for retailers and CPG companies by leveraging store-level data in a unique way, discovering those latent shopper segments and optimizing assortment and space accordingly," Ms Weinsig said. Scott Anderson, Chief Revenue Officer at HIVERY, said that by leveraging cutting edge technology with store-level analysis, CPG manufacturers and retailers can simulate and execute effective category strategies during their joint business planning (JBP) process to create “win-win” category strategies that grow sales and improve the shopping experience. “We are absolutely honored to be highlighted by Coresight Research as a leader in AI solutions for category management. With HIVERY Curate, we can now help our customers predict the impact of assortment changes, planned price changes and the incrementality of their new product innovations. This powerful predictive capability enables brand marketing, sales, and category management teams to collaborate on strategies that will grow sales for both the brand portfolio and the category. We have seen a reduction in category managers' time to execute assortment recommendations and planogram generation from weeks to hours.” Mr. Anderson said. The Coresight Research report notes that effective localization of assortment and space planning is a challenging task, with many retailers falling short of harnessing the true potential of technologies such as modern approaches in ML and DS. “By adopting these technologies, category management and retail merchandising professionals do not need to change their planning process. The power of AI enabled analytics enables them to be faster, smarter, and more strategic in how they leverage store-level data” Mr Anderson said. You can download the full report here: https://www.hivery.com/age-of-precision-category-management  HIVERY is a pioneer of hyper-local retailing, and offers simulation & optimization solutions to a growing number of retail and CPG clients in North America.  For further information and media inquiries please contact: Franki Chamaki, Co-founder, Marketing Director M: +61 409 213 683 E: franki@hivery.com ABOUT HIVERY HIVERY is a multi-award winning pioneer of hyper-local retailing, combining machine learning, operations research, and human-centred design to help consumer packaged goods (CPG) manufacturers and retailers generate a return on physical space investments. HIVERY is transforming category management and retail trade promotion with innovative algorithms sourced from Australia's national science agency - CSIRO's Data61. HIVERY is venture-backed and headquartered in Sydney, Australia, with offices in the USA and Japan. HIVERY was founded on the vision that Data Has A Better IdeaTM - and we’re working together with our clients to uncover its full potential. ABOUT CORESIGHT RESEARCH Coresight Research, is a research and advisory firm that provides future-focused analysis and consulting to organizations navigating the intersection of retail, technology and fashion. The team, led by Deborah Weinswig, an award-winning retail and technology analyst, delivers cutting-edge research on topics such as the evolving retail landscape, changing consumer behavior, disruptive retail technologies and the future of supply chains in sectors such as apparel, beauty, grocery and furniture. Coresight Research, with a global presence, including offices in New York, Hong Kong and London. Its services range from research and consulting to partnership building and events.   Download PDF version
Read more Right Arrow
news
A high-tech aroma recovery manufacturer, a medical device innovator, a drone detection technology exporter and a dance company are among the fifteen NSW businesses to be recognised at the 2020 Premier’s NSW Resilient Export Awards
Apr 29, 2021 | By

Export Council of Australia

A high-tech aroma recovery manufacturer, a medical device innovator, a drone detection technology exporter and a dance company are among the fifteen NSW businesses to be recognised at the 2020 Premier’s NSW Resilient Export. HIVERY was one of the fifteen. The Premier’s NSW Export Awards have honoured the achievements of outstanding local exporters for the past 57 years. In 2020, the NSW Government adapted the awards program as a platform to celebrate and promote stories of resilience, perseverance and adapting under pressure from the NSW export community. Investment NSW CEO Amy Brown said the Awards shine a spotlight on stories of innovation and quick-thinking pivots by determined business leaders in the face of unprecedented challenges. Read more
Read more Right Arrow
news
HIVERY Curate is on track to grow client sales over $1 billion and has been named in the Gartner Market Guide for Retail Assortment Optimization Applications in Merchandising
Apr 28, 2021 | By

HIVERY

HIVERY Curate is on track to grow client sales over $1 billion and has been named in the Gartner Market Guide for Retail Assortment Optimization Applications in Merchandising SYDNEY, AUSTRALIA, April 30, 2021 - HIVERY has been recognized in the Market Guide for Retail Assortment Optimization Applications in Merchandising1  by globally recognized independent IT research and advisory company, Gartner. HIVERY is a multi-award winning pioneer of hyper-local retailing, combining artificial intelligence (AI), operations research, and human-centered design to help consumer packaged goods (CPG) manufacturers and retailers generate a return on retail space investments by discovering each store's space and product assortment digital fingerprint.  HIVERY Curate is the world’s first true category management software that offers store-level optimization and rapid strategic category simulation and planogram generation. The research report has pointed out that “assortment optimization applications can provide powerful inventory management that minimizes excessive and “dead” inventory, enabling dramatic improvement of free cash flow to fund broader digital investments.” What sets HIVERY Curate apart from others is that it can achieve this level of superior optimization by starting at the store level. HIVERY Curate identifies the unique fingerprint of each store’s consumption patterns, across all items sold, then recommends the optimal assortment for each store to meet the localized consumer demand. Additionally, HIVERY Curate leverages artificial intelligence to enable our clients to perform rapid testing of different assortment options or category strategies, and predict the financial outcome of each, with unparalleled accuracy.  Over the last year, clients have seen annual incremental sales growth of up to 10% by leveraging HIVERY Curate. In the coming months, projected client sales growth from using HIVERY Curate is on track to exceed $1 billion. In addition to incremental sales, clients have been able to streamline their category management processes and reduce resource hours by as much as 80%. The combination of sales growth and labor reduction has resulted in an unprecedented 10x return on investment for our clients  HIVERY CEO, Jason Hosking, said that the company’s recognition by Gartner demonstrates how HIVERY’s unique artificial intelligence capability drives new brand and sales value for major CPG manufacturers and retailers in the North American market. “HIVERY’s aim is to be the market leader in retail enabled AI solutions. Our background in deep tech and data science really sets us apart from other players. Our core focus right now is retail assortment and space optimization with our product, HIVERY Curate. Based on HIVERY’s significant growth in North America, the company plans to scale into other global markets over the next 18 to 24 months.”  According to the Gartner report, “by 2024, Tier 1 retailers in North America and Europe will reduce inventory carrying costs by 30%, dramatically improving free cash flow for digital investment while revamping balance sheets. By 2025, the top 10 retailers globally will leverage AI to facilitate prescriptive product recommendations, transactions and forward deployment of inventory for immediate delivery to consumers.” HIVERY is unique in that the business has the backing of the Australian Government through its national science agency, the CSIRO’s Data61. Additionally, HIVERY collaborates on research projects with universities, providing clients with unique access to the latest scientific data. HIVERY’s investors include The Coca-Cola Company, the CSIRO, and Blackbird Ventures (Australia’s pre-eminent Venture Capital firm) who successfully backed Australian billion dollar start-ups such as Canva, Zoox, Safety Culture and Culture Amp.  HIVERY has been operating for six years and has offices in Australia (Sydney), Japan (Tokyo) and the United States (Bentonville, Arkansas). You can learn more about HIVERY Curate and view the video explainer here https://www.hivery.com/products/curate or download the latest research report by Coresight Research titled “The Age of Precision Category Management: Hyper-Localized Assortment Optimization Using Advanced Technologies” https://www.hivery.com/age-of-precision-category-management  Source: 1 Gartner, "Market Guide for Retail Assortment Optimization Applications in Merchandising", Robert Hetu, October 2020  Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.  For further information and media inquiries please contact: Franki Chamaki, Co-founder, Marketing Director M: +61 409 213 683 E: franki@hivery.com ABOUT HIVERY Founded in Sydney in 2015, HIVERY uses artificial intelligence (AI) models to help retailers maximize revenue. HIVERY's solutions use technologies which originated in laboratories run by the CSIRO and its data innovation affiliate, Data61. These solutions generate AI-driven recommendations for CPG suppliers & retailers, enabling truly unprecedented hyper-local retailing, the simultaneous localization and optimization of product mix at the physical store level. Today, the company’s growing team of data scientists, engineers and designers are taking its applications to a global customer base. HIVERY has offices in Australia, Japan and the US.  hivery.com  HIVERY was founded on the vision that Data Has A Better IdeaTM - and we’re working together with our clients to uncover its full potential.   To learn more about how we help decision makers fuel the future of business, visit gartner.com. Download PDF Version
Read more Right Arrow
news
日経クロストレンド:  AIの指示で売り上げ最大約40%増 駅ナカ自販機のAI革命
Mar 30, 2021 | By

Nikkei

駅構内などで自動販売機を運用するJR東日本ウォータービジネス(東京・品川)が、AI(人工知能)を活用して売り上げ向上、オペレーション最適化を図っている。AIの指示で品ぞろえを見直した自販機では、比較対象機と比べて最大約40%の販売増を記録。コロナ禍で移動需要が減少する中でも、好調な実績をたたき出している... learn more
Read more Right Arrow
news
HIVERY makes the Microsoft Retail Innovation Club!
Mar 10, 2021 | By

HIVERY

Microsoft has officially launched the Microsoft Retail Innovation Club. Discover HIVERY and 28 other innovators from Australia and around the world new technologies that are disrupting stores, supply chains, customer and employee experiences. From March to May 2021, you can access a series of videos showcasing what’s new from 28 of the industry’s most disruptive thinkers – and we’re very proud to be part of this club. Available on-demand for a limited time only, secure your spot! Visit the club
Read more Right Arrow
news
NSW Treasury & HIVERY are going global
Mar 04, 2021 | By

NSW Treasury

HIVERY is a multi-award winner pioneer of hyper-local retailing, combining artificial intelligence (AI), operations research, and human-centred design to help consumer packaged goods (CPG) manufacturers and retailers generate a return on physical space investments. NSW Treasury’s Global Markets team wanted to capture the story of what HIVERY is doing in international markets, especially in Japan and our participation in the NSW Going Global Program and Japan Innovation Leaders Summit 2021 HIVERY is only one of two companies in all of NSW to be selected to be part of this exciting program. What a great honour, and to celebrate and share our story, the team at NSW Treasury’s Global Markets have produced this video.
Read more Right Arrow
news
豪州AIスタートアップHIVERYがJR東日本ウォータービジネス社と事業展開〜「HIVERY Enhance」をエキナカ自販機に本格導入〜
Dec 23, 2020 | By

Nikkei

実証実験では最大50%※以上の売上増加も!全体では5.27%※の増加を記録!! 飲料補充の効率化で、業界の働き方改革も実現! ※近似環境でAIシステムを使用しなかった自販機との同一期間比較 ... learn more
Read more Right Arrow
news
Hivery, an Australia based artificial intelligence provider, will roll out its AI driven vending machine management solution to 6,000 machines across East Japan Railway's train stations, according to a press release.
Dec 17, 2020 | By

Vending Times

The two companies have been collaborating since 2017, leveraging Hivery's AI technology to optimize product assortment and column space for individual vending machines in Japan. Validated results from proof of concepts increased sales by 5.27%overall, up to a maximum of more than 50%, as well as reducing replenishment trips and improving operational productivity... learn more
Read more Right Arrow

Subscribe to HIVERY updates