Is Turning Store-Level Data into Actionable Insights the Next Big Thing in Assortment Planning?
SYDNEY, May 31, 2023 /PRNewswire/ — 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.
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.
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. 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.
HIVERY is a pioneer of next-generation hyper-local retail assortment strategy simulation & optimization solutions. 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.