SAN FRANCISCO, Oct. 16, 2024 (GLOBE NEWSWIRE) -- The retail industry is embracing technology at an increasingly rapid clip, applying AI and automation to accelerate growth. However, automation is only as effective as its data foundation, underscoring the critical need to address the data desert that exists on store shelves and impacts the entire retail ecosystem. In response, Simbe, the only provider of multimodal Store IntelligenceTM solutions, today launched Simbe Brand Insights, a groundbreaking solution that equips retailers’ vendor partners with near real-time shelf intelligence for the first time, redefining the traditional retail operations model. This addition to Simbe’s product lineup cements the company’s position as a data powerhouse and the sole retail technology provider delivering unmatched shelf insights to retailers and, now, vendors via multiple solutions.
With Simbe Brand Insights, retailers can generate new revenue streams and increase ROI by converting the invaluable data Simbe collects into daily, actionable intelligence for vendors and manufacturers of all types – such as Direct Store Delivery partners (DSD), Consumer Packaged Goods (CPG) brands, national brand manufacturers, and smaller brands represented by brokers and agencies. This includes insights for their own brand(s) on SKU level shelf availability and out of stocks, precise item location, restocking and promotion execution and more, which vendors can use to improve inventory, product placement, pricing, shelf share, and the overall customer experience.
“For years, our retail partners have run their businesses with Simbe’s platform’s item-level data, and it’s become clear that this information also has immense value beyond store walls,” said Brad Bogolea, Simbe’s Co-Founder and Chief Executive Officer. “By sharing store intelligence with vendors, Simbe Brand Insights puts the retail ecosystem on the same side of the table, leading to stronger relationships and performance across the board.”
Empowering Retailers and Vendors Alike Through Data
Historically, data syndication companies have aggregated information from various sources, such as retailers’ point of sale systems, and provided it to vendors the following month. This information lag subjects vendor partners to imperfect and stale data – limiting teams ability to act when it matters the most. Such visibility delays and gaps make it difficult for vendors to verify pricing & promotion accuracy and detect when products are low or out-of-stock, which ultimately forces missed sales opportunities, limited promotional effectiveness, and poor shopper experiences.
By eliminating these challenges, Simbe Brand Insights empowers all parties with the visibility and tools to enhance operations and differentiate shoppers’ experience. With Simbe Brand Insights’ reports and dashboard, retailers equip vendor partners with high-frequency, reliable information on promotional execution, shelf space needs, and product performance trends for their own brand(s).
- Store Category Managers use precise, store-level insights and measurable KPIs to hone strategies that drive product category performance and guide resets or schematic changes.
- Merchandisers use actionable insights to understand product availability across stores and adjust inventory plans before arriving.
- Brands and Account Managers gain in-store visibility to understand product performance, promotional compliance, execution, and in-stock rates. These insights support negotiations on shelf space and improve promotional strategies for both their brands and retail partners.
“We want our partners to experience the tangible benefits that Simbe provides in the same way we do,” said Tom Henry, Chief Data and Deputy Chief Information Officer at Schnuck Markets, Inc. “With Simbe Brand Insights, we now have data that vendors like Pepsi and Coca-Cola can use to stock shelves, optimize resources, and make sure our customers' needs are met collectively.”
Simbe Brand Insights is available to vendor teams through Simbe Mobile, which streamlines work by putting a near real-time, prioritized list of pricing and restocking tasks in the palm of their hands.
Increased Visibility Leads To Strong Market Benefits
Simbe digitizes the store interior to provide top retailers with true visibility that elevates every aspect of their business. By offering a seamless, innovative way for retailers to translate item-level and location trend information to their vendors, Simbe drives stronger outcomes and empowers all parts of the retail ecosystem to work off the same, precise dataset.
“Accurate, always-on inventory data is no longer just an asset. It’s a must-have for retailers and vendors to keep competing,” said Chris Walton, Analyst and Co-CEO At Omni Talk. “Retailers and CPGs both want to elevate shoppers’ experience. With daily item-level insights, they stay in lockstep to stock shelves with well-priced items that shoppers want.”
Simbe’s multimodal technology solutions, including Tally, the world’s first autonomous item-scanning robot, deliver store intelligence to retailers around the world, such as recently announced new and expanded deployments with Albertsons, United Supermarkets, Northeast Grocery, TOPS Friendly Markets, Price Chopper Supermarkets-Market 32, SpartanNash, Wakefern, and many more. Only Simbe has the proven technology capabilities, global production resources, multiple chain-wide deployments, and customer successes to meet today’s surging demand for retail technology. With significant traction across three continents, Simbe’s global customers achieve substantial profitability improvements, while delivering top-grade store team and shopper experiences.
To learn more about its newest offering, Simbe Brand Insights, visit our website or view the video.
About Simbe
Only Simbe’s Store IntelligenceTM platform offers multimodal solutions to increase retail brands’ performance with unprecedented visibility and near real-time insights. Cutting-edge AI and robotics power business-critical intelligence that streamlines inventory management and store operations, while elevating store teams and shoppers’ experiences.
Simbe’s comprehensive platform includes the world’s first autonomous, item-scanning robot, Tally, which identifies exact product location, stock level, and pricing & promotion information with market-leading computer vision. Simbe works with top worldwide brands in the US, Europe and Asia. For more information, visit www.simberobotics.com.
Contact
Caitlin Allen
SVP of Market
press@simberobotics.com
