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Event Coverage

Countdown to Groceryshop 2019: Innovator Spotlight Profiles — Brandchat

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Coresight Research

Key Points

  • 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 Brandchat, a startup that leverages artificial intelligence (AI) to offer brands a conversational management platform to engage with shoppers via chat, voice and augmented reality (AR) channels.

This report is part of our 2019 Countdown to Groceryshop: Innovator Profiles series. To view the other reports in this series, click here.

Groceryshop 2019

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. There are also rapid shifts emerging in how consumers discover, shop and buy. New marketing technologies help grocery retailers and CPGs 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.

Brandchat at a Glance

Founded in 2018, Brandchat is an AI-powered conversational management platform. Brandchat offers conversation management platform to interact with customers through multiple messaging platforms (Facebook, WeChat, Kik) and across voice and AR applications. After developing a deeper understanding of product choices, pricing sensitivity and sales history across every transaction, Brandchat creates a conversation tailored to each consumer and his or her needs. The solution can help retailers and brand owners deepen customer relationships, driving incremental sales with each interaction.

Source: Brandchat

 

What Problem Does Brandchat Solve?

Retailers want to acquire as many as shoppers as they can, and one way to achieve that is to create a two-way conversation with consumers in order to listen to their needs. However, the continuously expanding landscape of social media is making it harder to hear the message through all the noise. Brandchat helps retailers to generate voice, chat and visual communication that is tailored to each customer.

Headquarters

New York.

Funding Stage

n/a

Management Team

Cofounder Adam Stave has over 15 years of experience in marketing, sales, consumer lifecycle and emerging technology. He also serves as VP of Strategy and Innovation at Brandshare, a shopper activation company with deep roots in sampling and brand experience.

Cofounder and CEO Magnus Erhardt has extensive experience in digital marketing. He is also the founder of Edge Cognitive Marketing, a company that uses augmented reality, virtual reality, AI and Amazon Alexa to power digital marketing.

Market Potential

According to BI Intelligence, about 80% of businesses will use chatbots – applications that engage in interactive conversation using natural voice or text – by 2020. Moreover, it is estimated that such technology will save businesses about $8 billion annually by 2022.

Company Outlook

Brandchat was founded in December 2018. The startup aims to offer brands a new and smarter approach to shopper engagement, relationship building and activation, as well as ways to discover new audiences more effectively than other digital prospecting tools.

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