Countdown to Groceryshop 2019: Innovator Spotlight Profiles — Adrich
- The Coresight Research team will be attending and participating in the Groceryshop 2019 conference, which runs September 15-18 in Las Vegas. The conference is expected to bring together over 3,000 attendees and more than 200 speakers.
- We’ll be talking about the transformation of the retail industry, shifts in consumer behavior and innovations that are helping retailers keep up with fast-changing consumer expectations.
- On September 15, Coresight Research CEO and Founder Deborah Weinswig will emcee the Emerging Technology Spotlight session in which 20 innovative, early-stage technology companies (pre-Series A) will present solutions that solve major retail problems. The companies include: Adrich, Datasembly, ShopperMotion, Simporter, Oriient, Pick ‘n’ Watch, SuperUp, Tastry, Tiliter Technology, BrandChat, CoupDog, RetailAware, Shopperations, AGTools, Babylon, Gather AI, Leaf Logistics, Macondo Ventures, MeisterDish and Simplista.
In this report we profile Adrich, whose solution provides a smart usage tracker and a post-purchase engagement platform.
This report is part of our 2019 Countdown to Groceryshop: Innovator Profiles series. To view the other reports in this series, click here.
The Coresight Research team will be attending and participating in the Groceryshop 2019 conference, which runs September 15-18 in Las Vegas.
The conference is expected to bring together over 3,000 attendees and more than 200 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.
The event also covers the rapid shifts in how consumers discover, shop and buy — from the use of new technologies and business models to the latest shopper trends.
Emerging Technology Spotlight Session
This is the second year the Coresight Research team will support Groceryshop’s early-stage technology startup event: On September 15, Coresight Research CEO and Founder Deborah Weinswig will emcee the Emerging Technology Spotlight, which features 20 innovative technology companies presenting their solutions to solve major retail problems.
Groceryshop selected the participating startups based on their solutions, looking for companies that solve some of the most pressing challenges in grocery, e-commerce, food and CPG. All participating startups offer business-to-business (B2B) solutions. Over 130 companies applied to present at the event: From that group, we selected the 20 using a rigorous vetting process.
These are some of the selection criteria:
- Early-stage, defined as pre-series A funding.
- Relevant to the grocery and/or CPG industries.
- B2B solutions (not consumer-facing).
- Scalable (good growth prospects).
- Highly innovative (deep differentiation).
- Important (solving a major industry problem).
The companies span several countries, although most are based in the US:
- US: 14
- Canada: 2
- Israel: 2
- Australia: 1
- Spain: 1
We categorized the 20 companies into four buckets of retail disruption:
Data and Insights: Digital technology is creating new metrics and capabilities to glean insights and understand the best way to meet and exceed customer expectations.
Improved Shopping Experiences: Shoppers demand intuitive and more seamless grocery experiences, both online and in-store. Grocery retailers face challenges in keeping their assortment up to date and in sync with fast-changing consumer demand.
Next Generation Marketing: With so many different touchpoints and channels to reach consumers, engagement has become more complex than ever. And, there are rapid shifts in how consumers discover, shop and buy. New marketing technologies help grocery retailers and CPG’s engage and acquire customers.
Operations and Supply Chain: Over the next few years, new omnichannel grocery offerings will likely go mainstream, giving consumers new experiences as well as more convenient delivery and pickup options. Simultaneously, technologies such as robotics, AI and IOT are changing how grocery items move from producer to store to consumer.
Adrich at a Glance
Founded in 2015, Adrich provides a post-purchase engagement platform that draws information from smart labels on products. The company’s labels track product usage after the customer has purchased it and taken it home. With consumer consent, Adrich’s labels and custom software create a stream of real-time product usage data that enables manufacturers to offer features such as automatic reordering, predicting order lead times more accurately and identifying opportunities for product improvement and targeted communications.
The company leverages machine learning and draws information from a tracker placed on products inside the label. Data is aggregated and presented visually on Adrich’s Dashboard.
What Problem Does Adrich Solve?
Post-purchase behavior is notoriously difficult to track – but can be a goldmine of information. How often does the consumer use the product and at what time? How long does it take the consumer to finish the product after purchasing? These important insights can inform design and creation of new products and management of existing ones. Adrich’s technology enables manufacturers to increase sales, automate reordering, predict order lead times more accurately, and identify opportunities for product improvements and targeted communications.
Founder and CEO Adhithi Aji has more than six years of related industry experience, including product management and technical research and development experience. She has a master’s degree in engineering and technology management from Carnegie Mellon University.
According to IDC, global big data and business analytics will grow from $130.1 billion in 2016 to over $203 billion in 2020, at a compound annual growth rate of 11.7%.
In February 2019, Adrich received undisclosed seed funding from the Sony Innovation Fund. In July 2019, Aldrich’s Smart Label products launched in Paris.