Countdown to Groceryshop 2019: Innovator Spotlight Profiles — Retail Aware
- 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 Retail Aware, a startup that makes micro and wireless smart sensor systems to measures audience and engagement in relation to a product or area in a physical environment.
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 for 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.
Retail Aware at a Glance
Founded in 2018, Retail Aware makes a micro, wireless smart sensor system deployed on retail shelves. The company collects data through its micro sensors. These sensors can be attached to product displays to track how many people walk by (footfall), how long they dwell, engagement (how many times a product is picked up) and more.
The solution is cameraless and does not collect any personal identifying information. Retail Aware then applies machine learning to the data to deliver actionable insights which help retail manufacturers and their supply chain operation teams optimize merchandising and increase sales.
What Problem Does Retail Aware Solve?
Retailers want to understand how customers interact with products: who is picking up the product, who visits certain parts of the store – and most importantly, which behaviors point to the consumer converting to a buying customer. Retail Aware says its micro sensor system can estimate consumers’ age, gender, ethnicity and income to provide valuable shopper data to help retailers refine their omnichannel strategies and digitally target shoppers.
Founder and CEO Keith Fix has experience in marketing and sales. He founded DailyMav and Blabfeed prior to founding Retail Aware.
According to Global Market Insights, the global retail analytics market is set to grow from US$3 billion in 2018 to over US$8 billion by 2024.
In March 2019, Retail Aware received $450,000 in seed funding.