The Coresight Research team will be attending and participating in the Groceryshop 2018 conference, which runs October 28–31 in Las Vegas. The team behind the Shoptalk retail and e-commerce conference founded this new event, which will cover the disruption of the grocery, consumer packaged goods (CPG) and related industries.
- The conference is expected to bring together 1,000 attendees and more than 150 speakers. Discussion topics will include the transformation of the retail industry, including convenience stores, supermarkets and e-commerce, and changes in the production and distribution of CPGs across multiple retail verticals. Additionally, the event will cover shifts in consumers’ shopping behavior and how they want to shop in the future in both brick-and-mortar and online formats.
- On October 28, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup pitch competition featuring 12 innovative, early-stage technology companies that provide solutions to solve major problems in e-commerce, grocery retail, and/or the food or CPG sector. The participating startups are Adrich, Forager, IceCream Labs, IntraPosition, Locai Solutions, Nextuple, Observa, Packyge, Shelf.ai, Simplista, Tastry and Tochize.
- In this report, our seventh in a series of dailyCountdown to Groceryshop 2018reports, we profile IntraPosition, which helps shoppers navigate stores by leveraging ultra-wideband wireless technology for highly accurate location tracking. The company’s infrastructure also helps retailers fulfill online orders more efficiently in stores and provides granular analytics data.
The Coresight Research team will be attending and participating in the Groceryshop 2018 conference, which runs October 28–31 in Las Vegas. The team behind the Shoptalk retail and e-commerce conference founded this new event, which will cover the disruption of the grocery, CPG and related industries. Coresight Research has previously partnered with Shoptalk to host that conference’s annual startup pitch competition.
Groceryshop is expected to bring together 1,000 attendees and more than 150 speakers. Discussion topics will include the transformation of the retail industry, including convenience stores, supermarkets and e-commerce, and changes in the production and distribution of CPGs across multiple retail verticals. Additionally, the event will cover the rapid shifts in how consumers discover, shop and buy—from the use of new technologies and business models to the latest trends in consumer behaviors, preferences and expectations.
According to Zia Daniell Wigder, Cofounder of Groceryshop and Chief Content Officer of Shoptalk, Groceryshop was created to meet the needs of a sector on the verge of a massive shift. The percentage of grocery sales made online in the US is only 2%–3%, significantly lower than for other categories such as apparel and electronics, where e-commerce accounts for about 20% of sales, Wigder said.
Over the next few years, new omnichannel grocery offerings will likely go mainstream, providing consumers with new experiences as well as more convenient delivery and pickup options. Digital platforms that offer the best mix of price, selection and convenience will see increased transaction volume, while physical stores will experience change and likely play a key role in online order fulfillment.
Startup Pitch Competition
On October 28, Coresight Research CEO and Founder Deborah Weinswig will emcee a startup pitch competition featuring 12 innovative, early-stage technology companies that provide solutions to solve major problems in e-commerce, grocery retail, and/or the food or CPG sector.
Each company will present its business to a panel of judges from the investment community and to the audience. Two winners will be announced, one chosen by the panel of judges and one by audience vote, and each winner will be awarded $10,000.
Groceryshop curated the participating startups based on their solutions to some of the most pressing challenges that grocery, e-commerce, food and CPG companies are facing. All of the participating startups have less than $3 million in funding, provide business-to-business (B2B) solutions and were founded in 2014 or later.
We categorized the 12 companies into four buckets of retail disruption:
- Sourcing, Merchandising and Cataloging:Shoppers are demanding more grocery choices than ever before, and grocery retailers face challenges in keeping their assortments up to date and in sync with consumer demand.
- Enabling Grocery E-Commerce:Providing engaging and personalized online experiences while meeting consumer expectations regarding fulfillment and delivery is crucial for retailers.
- Improved Shopping Experiences:Shoppers are demanding intuitive and more seamless grocery experiences both online and in stores.
- Tracking, Measurement and Insights:Digital technology is creating new metrics and capabilities for gleaning insights for grocery retailers and CPG manufacturers.
Below, we profile IntraPosition, one of the companies participating in the startup pitch competition at Groceryshop. We categorize IntraPosition as being in the Improved Shopping Experiences group.
IntraPosition offers an in-store geopositioning solution that uses ultra-wideband wireless technology. The company’s in-store location infrastructure and software offers pinpointing with 12-inch accuracy, enabling shoppers to better navigate stores and receive personalized messaging based on their in-store location, while also helping retailers fulfill online orders more efficiently in-store and providing them with granular analytics data on shopper behavior.
Indoor positioning and navigation systems use a network of devices to locate people and objects inside a building wirelessly, whereas indoor positioning systems use lights, radio waves, magnetic fields, acoustic signals or other sensory information collected by mobile devices. According to Market Research Future, the indoor positioning and navigation system market is expected to grow at a CAGR of roughly 30% from 2016 to 2022, to about $25 billion.
What Problem Is the Company Solving?
IntraPosition addresses three problems with indoor shopping.
First, grocery stores and supermarkets often have difficulty providing one-on-one assistance to customers. IntraPosition’s technology provides in-store shoppers with step-by-step navigation help and enables retailers to send shoppers personalized messages on the shelf level. IntraPosition helps make the in-store shopping experience more like the online experience, enabling shoppers to easily search for and find products in stores and making shopping more personal and engaging.
Second, retailers are looking to cut online order fulfillment costs, in part by designing the best pickup routes for staff collecting orders in stores. IntraPosition helps solve this problem by integrating its positioning services with retailers’ in-store picking apps, helping cut picking time by as much as 30%, according to the company.
Third, retailers want to know more about their customers’ in-store shopping behavior, but collecting that data can be challenging. IntraPosition’s Internet of Things system, which is powered by its positioning capabilities, can provide retailers with valuable customer data and insights.
Seed funding of $500,000 in December 2016 and pre-series A funding of $1.5 million in May 2018.
The company charges an initial installation fee and then a recurring monthly charge based on usage or number of tags in each store.
IntraPosition is led by Founder and CEO Yaron Shavit. Harel Gutgold is the company’s Head of Software Development.