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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
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podcasts
Future of retail is here: from in-store flying-blimps, shelf edge messaging, computer vision, robotics, smart checkouts to hyper local assortments
Apr 28, 2021
In this podcast you will learn: • What new retail trends we can expect to stick and which ones are temporary and would go back to what they were pre-COVID. Specifically, Ken shares interesting insights into reimagining how the stores will evolve and what it means for brick and mortar retail. • The research that is being completed by Coresight around economic benefits of assortment localisation and what it means for both retailers and CPG companies. • Ken shares his predictions regarding what stores of the future would look like and challenges some of the old assumptions we often hold as true. Some surprising insights. • Who is experimenting with such things as in-store flying-blimps, shelf edge personalised messaging, computer vision, robotics, smart check out, and hyper local assortments. • How technologies such as AI and AR are being used by retailers, and how latent demand will change the way we predict shopper demand. • Interesting startups who are bringing amazing innovation to retail spaces from USA to Israel to Australia.
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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
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blogs
HIVERY climbs to rank 77 from 82 in The Financial Times Asia-Pacific High Growth top 500 Companies of 2021
Apr 14, 2021 | By

HIVERY

The Financial Times (FT), in cooperation with international data partner, Statista and its sister publication, Nikkei Asia, has released its third edition of the FT High-Growth Companies Asia-Pacific ranking. Our team is honoured to announce that HIVERY has once again made it to this prestigious list – climbing 5 points from last year to position 77, ranking us amongst the top companies in the region. We are pleased to be included in this latest FT ranking, which celebrates 500 companies in the Asia-Pacific region that have achieved the highest compound annual growth in revenue between 2016 and 2019. This is mostly powered by our HIVERY Curate solution - transforming category management with hyper optimized assortments for our global retailers and CPG companies. This also comes with the news of Gartner Research naming HIVERY Curate in their annual retail assortment optimisation industry guide. Maxine Kelly, FT Editor, shared that many countries in Asia-Pacific continue to struggle due to the effects of last year’s COVID-19 pandemic, along with further challenges around inequality, unemployment and gaps in social welfare. She has noted, though, that these 500 companies are well-prepared to overcome such crises, being in a strong position to take their organisations to even greater heights. “This gives them enough momentum or resilience to survive — or, in the case of some tech start-ups, to thrive.”  We’re proud to embody these attributes both this year and going forward. At HIVERY, we aim to take full advantage of our ongoing growth and blaze new trails – not just to accomplish breakthroughs for our business, but also to help our clients generate impressive returns from their retail shelf space investment through the power of AI in category management. Using the world’s most advanced machine learning and operations research techniques, we will consistently empower global FMCGs, CPGs and retailers to make more informed decisions that will enhance customers’ shopping experiences, optimise shelf space utilisation and maximise profits.   Hyperlocal retailing, our solution that offers simultaneous localization and optimization of product mix, space and promotion/price at the individual store level, will guarantee that data has a better idea to help you succeed. If you would like to know more about this solution and our other products, contact us here. We’d love to hear from you.  We wish to express our gratitude to everyone who has helped us get this far and thank you our incredibly talented team of scientists, engineers and designers are all overjoyed to know that we are creating a positive impact.
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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
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case-studies
What do we mean by "AI" optimized category assortment
Mar 26, 2021 | By

HIVERY

HIVERY Curate Q&A Series At HIVERY, we get a lot of questions about HIVERY Curate and how an AI-driven true store-specific category management solution can transform category and brand professionals' roles at major CPGs and retailers. In the below video you will find Heather Martin, Vice President of Sales at HIVERY, answering: What do we mean by "AI" optimized category assortment. Watch the video below and see a live demo by Heather
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blogs
Win or retain category captaincy: How AI can augment category management with a two-sided “Protect & Grow” strategy
Mar 23, 2021 | By

Heather Martin

Category management is a highly competitive exercise in today’s face-paced retail environment, with each company seeking to increase their brands’ category market share and leadership presence through innovation and superior category strategy.  Rarely are brands distributed according to their fair share of space at any given retailer, especially when assortment is optimized using a top-down approach that leverages averages of averages to push assortment into space available at each store. Even a small percentage of growth or loss can equate to millions of dollars. Therefore, it is equally important for all brands and Consumer Packaged Good Companies (CPGs) to protect & grow shelf space, regardless of whether they are below or beyond fair share.   Artificial Intelligence (AI) is the ideal tool to optimize assortment from the bottom up, looking at each store individually and using this analysis to determine the right assortment for each store or cluster. This approach allows CPGs to protect and grow revenue by maximising retail space investment, all while uncovering growth opportunities for the category and improving the retailer / CPG strategic relationship. Sound too good to be true? Here’s how. Two-Prong Strategy: Protect & Grow category assortment  Category management and retail sectors have always been dynamic, and every (Points of Distribution) POD is fought for in every relay. Direct to consumer brands and new innovation are fighting for the same space you are, with less on the line. To cope with the evolving competition amongst brands, HIVERY Curate helps CPGs identify the right strategy based on a predictive analysis of the most granular of data points through the two-prong “protect and grow” strategy: Protect - Defending your category share & strategic value to your retailer At HIVERY, we are often asked what happens if the AI recommends reducing a CPG’s space - and usually this question comes from CPGs whose brands are well distributed and at (or above) a fair share of space. The answer is simple. With store-level assortment analysis taking into account store specific cannibalization, category advisors and non-advisors alike can protect their relationship and space by: Uncovering growth for their brand, optimizing existing space and recommending SKU rationalization of products whose demand will transfer within the brand portfolio. This newly created space allows for increasing holding power to reduce out of stocks, or swapping lower-performing products for those ‘sleeper products’ that will drive brand growth. Quantifying the value of each business and brand strategies through rapid SKU stimulation and seeing the impact before executing. AI can, in fact, provide data driven, revenue-quantified recommendations to execute the strategies. This levels up the conversation with the retailer in ways not possible today and ensures the strategies are executable in store and predicted to drive category growth. Identifying growth for their retailer, even within existing clusters which protects the strategic relationship and everything that comes with it.   Once existing space is protected, brands beyond their fair share can fight for additional space through new innovation, and HIVERY Curate can predict the success of the launch while pinpointing the best stores to launch in. Grow – Capturing more category sales and space AI-powered algorithms are able to optimize assortment at the store level by determining the unique ‘data fingerprint’ of each store, and leveraging this to identify the assortment needs of each specific store. Even when executed at a cluster level, using this bottom up analysis to identify what to add, remove or retain uncovers new opportunities for both brands and retailers.  Where brands are below their fair share of space and expanded distribution would grow not only your brand but also the category, HIVERY Curate’s AI optimization provides specific recommendations on where to expand points of distribution (PODs), it identifies which SKUs to expand, and quantifies the revenue impact to the retailer. And, because HIVERY Curate’s optimization is aware of the actual space on the shelf, the AI often identifies room for additional facings or SKUs just by knowing how many inches are available. Case Study: the two-pronged approach in action Working with a large multinational company across two categories at a single retailer, HIVERY Curate was used to identify and implement this two-pronged strategy. In one category where our CPG client had significant distribution, Curate identified growth for the category and a risk of reduced PODs to the CPG. With this information, our customer’s brand and sales teams have an opportunity to identify protective portfolio strategies, simulate their impact on the category and their revenue and use this data-driven story to propose their programs to the retailer. In another category where private label products have significant distribution, HIVERY Curate identified an opportunity for our CPG client to grow the category by also growing their distribution - a true win/win for all parties!  Backed by the power of machine learning and proprietary algorithms developed over 5 years, together with  an in-depth operations research method (often called applied mathematics)  within HIVERY Curate, the CPG client was able to effectively plan and distribute optimal product assortments for each retail store. As expected, the financial benefit was significant. Across both categories, HIVERY Curate identified a $16M revenue growth opportunity for the CPG Client. The next generation of category management solution With the constant battle between category leaders and non-category leaders, the brands that are able to protect and grow their market share are the ones that survive and thrive. HIVERY Curate offers businesses an efficient way to do this. As an intuitive AI-powered and user-friendly tool, it equips businesses with effective and compliant planograms that deliver the best results from physical retail space investment.  In the end, it’s not just about earning more slices of the pie, but rather about growing the pie itself. HIVERY Curate delivers accurate, effective and executable store-specific recommendations to improve and ensure the growth of the whole category. How can HIVERY help you?    HIVERY is the pioneer of hyper-local retailing – combining artificial intelligence, machine learning, optimization and design to help CPGs and retailers generate an increased return on physical retail space investment.     To learn more about me or schedule a chat, please visit my page here    
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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
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case-studies
What are some of the new benefits unlocked by retailers or CPGs that weren't the case before HIVERY Curate?
Mar 08, 2021 | By

HIVERY

HIVERY Curate Q&A Series At HIVERY, we get a lot of questions about HIVERY Curate and how an AI-driven true store-specific category management solution can transform category and brand professionals' roles at major CPGs and retailers. In the below video you will find David Buckley, Vice President of Retail at HIVERY, answering the question: What are some of the new benefits unlocked by retailers or CPGs that weren't the case before HIVERY Curate?
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