Countdown to Groceryshop 2019: Innovator Spotlight Profiles — Simporter
- 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 Simporter, whose AI-based tool helps predict product sales before and after they enter the market by analyzing factors such as historical sales, customer reviews, social media sentiment and more.
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.
Simporter at a Glance
Founded in 2018, Simporter uses artificial intelligence and machine learning to predict demand for product before and after launch. It analyses historical sales, social media sentiment, customer reviews, and micro-variables (such as pricing) and transforms this information into simple analytic solutions to validate concepts and forecast volume. According to Simporter, companies using the technology increase organic revenue by 22%. The company also claims its technology makes accurate predictions up to 93% of the time.
What Problem Does Simporter Solve?
Retailers and brand owners want to accurately predict which products to launch, which will be best-sellers, and which products will fare poorly to better manage inventory and manufacturing. Simporter offers an easy-to-understand tool to help retailers more accurately predict product demand. On average, companies generate 12% more revenue with these predictions.
- Cofounder and CEO Tim Hall has two decades experience in consumer products. He was founder and CEO of Digital Blue, a company that designs and markets specialized consumer electronics for niche markets, for 14 years.
- Cofounder and COO Dillon Hall cofounded Brillify.com prior to Simporter with Tim Hall prior to Simporter.
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%.
The company raised a seed round founding in January 2019. It won in the sales and marketing vertical at the ABSL Startup Challenge in June this year.