HIVERY's AI uncovers latent shopper insights & gains industry recognition
SYDNEY, Australia – June 7, 2023 - HIVERY has been garnering recognition in the retail technology sector, making significant appearances on Fast Company’s list of the World's Most Innovative Companies, CB Insights’ Retail Tech 100, and Gartner's reports. The secret behind this success? A unique blend of proprietary AI and operations research techniques, transforming store-level data into actionable insights for retailers and CPG category management brands and marketing teams.
Is Turning store-level data into actionable Insights the next big thing in assortment planning?
Traditional consumer research methods, including primary customer research and shopper insight panel data, often fail to deliver actionable business insights. They might answer the "who" and "why" of shopping behavior but frequently stumble on the "what" to do in stores. The task is further complicated when consumers aren't entirely truthful, omit crucial information, or when the consumer and the shopper are two different entities. This, in effect, complements "who" and "why" approaches and now, with AI, provides the "what" to do in stores.
HIVERY is helping the retail industry by addressing these challenges in ways not possible before. The company's technology has earned them a prominent spot in Gartner's report, highlighting the significance of customer-oriented, bespoke store assortments and localized space planning in the future of category management and hyperlocal retailing. With recommendations executed in stores, retail and CPG clients experience, on average, 5% category growth.
Fast Company acknowledged HIVERY as one of the World's Most Innovative Companies for 2023, a testament to their pioneering approach in retail. HIVERY's AI model leverages store-level data and applies a bottom-up approach to uncover latent shopper segments, providing better store and assortment arrangements in stores. What sets HIVERY apart is its ability to provide actionable store-level insights within minutes, enabling users to test any assortment strategy and assess its impact before rolling it out in stores. This unique approach also earned recognition from CB Insights, which named HIVERY to their Retail Tech 100 List for 2023.
At HIVERY, the guiding principle is that data has a better idea. By harnessing the power of store-level data, HIVERY is assisting retailers and CPG manufacturers in making superior decisions, and optimizing locally relevant product assortments, effectively merchandised and operationally efficient. This approach fosters transparent, data-driven retailer-supplier collaboration.
The accolades and recognition HIVERY has recently received affirm its store-level approach's effectiveness and role in bringing Hyperlocal retailing to life. By decoding store-level data to identify latent shopper segments and inform retailers and CPG category management brands' strategies, HIVERY is paving the way for the future of retail.
You can learn more about HIVERY's offering, HIVERY Curate.
HIVERY is a pioneer of next-generation hyper-local retail assortment strategy simulation & optimization solutions. These proprietary machine learning and applied mathematics algorithms were co-developed with Australia's national science agency - CSIRO's Data61. HIVERY was founded on the vision that Data Has A Better Idea™ - and we’re working with our clients to uncover its full potential. For more information, visit www.hivery.com.
Press Contact: Franki Chamaki, VP of Marketing, Ground Floor, 483 Riley St, Surry Hills, NSW 2010Australia
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