What would you like our conference attendees to know about your brand/company?
The decision-making process in the retail industry often begins at the corporate level, involving customer research, shopper panel data, etc., where brand teams create portfolio strategies and category plans. These plans are often designed to be comprehensive, but actual growth today needs to happen from the bottom up. We need to consider the intricacies of individual stores to inform strategy. The current top-down approach can sometimes lead to inefficiencies, missed growth opportunities, and an inability to adapt to local market demands.
At HIVERY, we are redefining the landscape of retail analytics through our unparalleled ability to harness store-level data. Our sophisticated AI-driven solutions like HIVERY Curate enable our clients to delve deep into their portfolio or category to answer strategic business questions that were previously unattainable. Questions such as: “How can I maximize the productivity of existing space?” or “How incremental will my new items be to the stores where they’re assorted?” become answerable with our technology.
We go beyond traditional analytics to offer tailored insights, whether it’s optimizing pack size architecture, testing innovation items, or exploring edge assortment strategies. We are constantly expanding the limits in terms of what business questions we can help solve. With HIVERY, you’re not just analyzing data; you’re unlocking the potential of each retail space and every product.
Our theme this year is ‘Trailblazing Retail’s Bold Future.’ What is the one thing you are most excited about as you think about the next 2-3 years in retail?
As we look towards the next 2-3 years in retail, what excites me the most is the burgeoning role of AI and data analytics in transforming retail decision-making. The retail industry is on the cusp of a major shift, where data is now table stakes and the speed at which you can take that data and make impactful changes is the new competitive advantage. With tools like HIVERY Curate, the potential to unlock hyper-local, store-specific insights and simulate various strategic scenarios opens up endless possibilities for real-time, actionable innovation. We’re moving towards a future where complex business questions, such as optimizing space productivity or identifying the best locations for new product launches, can be addressed with precision, confidence, and speed. This evolution heralds a new era of efficiency and customer-centricity in retail, and HIVERY is at the forefront of driving this transformation.
What does Trailblazing Retail’s Bold Future mean to your company?
For HIVERY, “Trailblazing Retail’s Bold Future” signifies a paradigm shift in how retail strategies are formulated and executed. It’s about leveraging technology to augment our thinking and uncover growth and operational opportunities previously inconceivable. Our approach goes beyond traditional customer research or shopper panel data. By analyzing granular store-level data, we empower CPG brands and retailers with a deeper understanding of shopper behavior, preferences, and trends specific to each location. This means moving away from one-size-fits-all strategies to truly localized, data-driven decision-making.
Our vision, “Unleash the transformational power of data,” aligns with pioneering a retail future where asking powerful, previously impossible questions leads to groundbreaking discoveries and strategies. Furthermore, this vision is underpinned by our belief that ‘Data Has A Better Idea™.’ Shoppers vote with their wallets in stores, and we make this visible to retailers and CPG brands.
What current retail and consumer trends do you feel people should be paying particular attention to right now?
One of the most intriguing trends in retail and consumer behavior is the divergence between consumers’ stated intentions and their actual actions. This gap, influenced by factors such as traditional category management tools and practices, the impact of social media on purchasing behavior, transient shopper patterns, as well as longstanding human assumptions and industry dogma, presents a unique challenge in predicting behavior and crafting effective category strategies. At HIVERY, we see the utilization of AI and store-level sales data as key to bridging this gap. These technologies provide accurate, store-level consumer insights, highlighting trends such as unexpected product correlations, the bifurcation effect, and regional preferences. By harnessing these insights, retailers, and brands can make more precise decisions, leading to optimized assortment planning and a deeper understanding of their customers.
What kind of solutions will you be showcasing at the 2024 CMA|SIMA Conference?
At the 2024 CMA|SIMA Conference, we are excited to showcase HIVERY Curate, our flagship SaaS solution, designed to allow retailers and CPGs to answer the most powerful business questions, and design winning assortment and merchandizing strategies, all in a user-friendly interface. HIVERY Curate empowers retailers and CPG brands to unlock deep shopper insights, ask questions, and quantify each response, uncovering unprecedented growth opportunities with transparency and precision. By providing a comprehensive analysis of store-level data, our solution enables businesses to make informed decisions that align with their strategic goals, ensuring they remain competitive in an ever-evolving retail landscape.