Countdown to Groceryshop 2019: Innovator Spotlight Profiles — Pick ‘n’ Watch
- 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 Pick ‘n’ Watch, which offers a solution that uses motion sensors to detect consumer interaction with products, then automatically display relevant promotional or informational videos.
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.
Pick ‘n’ Watch at a Glance
Founded in 2017, Pick ‘n’ Watch offers a subscription-based smart-shelf solution that is compact, modular and easy to deploy. The smart shelves use motion sensors to detect consumer interaction with products, then automatically display relevant promotional or informational videos in response.
The system doesn’t require a specific shelf fixture or camera to provide a seamless experience. Moreover, the solution also provides real-time analysis on customer activity. Pick ‘n’ Watch’s solution can boost in-store customer engagement up to 60%, according to the company.
What Problem Does Pick ‘n’ Watch Solve?
Retailers want to educate customers about products, but having enough staff on hand to constantly attend to every customer would be impractical. Pick ‘n’ Watch shows the right product video and promotional deal when customers interact with products and helps brick-and-mortar stores close the innovation gap between offline and online shopping experiences.
San Jose, California.
Founder and CEO Erhan Ark has 19 years of technology market experience in product development, sales and business development. He is also the CEO of Federal Smart Solution.
Forrester forecasts digital marketing spend in the US will reach $120 billion by 2021.
Pick ‘n’ Watch’s is currently working with several notable customers which include Microsoft, Constellation Brands, McKesson and Ace Hardware and will look to expand its reach further to other brands looking to close the gap between the online and offline shopping experience.