Stor.ai, the end-to-end digital commerce solution for grocers, today announced the launch of a new product suite designed to equip grocers and CPGs with state-of-the-art analytics tools which glean insights on data acquired from ecommerce transactions.
Grocery stores and chains of all sizes can now present a more relevant, and therefore lucrative, offering to CPGs, widening their ecommerce profit margins and tailoring their digital experience to their customer base.
Amid the rise of online grocery shopping in recent years, a trend significantly expedited by the Covid-19 pandemic, grocers have had to adapt the way they sell to CPGs. Whereas previously retailers would market to CPGs and wholesalers with in-store advertisement space, prime shelf locations, and tasting samples, a significant part of that relationship has now shifted online – creating a growing need for grocers to sell ‘online space’ to CPGs in order to expand their revenue stream and increase the profitability of their ecommerce operations.
Stor.ai’s latest product suite enables retailers to strengthen their value-add for CPGs by offering them anonymized, real-life data about the extent to which particular campaigns and promotions generate clicks and purchases. Moreover, with customer data an increasingly valuable commodity in the ecommerce industry, Stor.ai’s new analytics capabilities offer retailers a means of leveraging and monetizing the data they possess and improving their online value proposition.
“In an era characterized by rapidly changing consumer preferences and habits, it’s increasingly vital for the grocery industry to understand how customers respond to promotional campaigns,” said Orlee Tal, CEO, stor.ai.
“Stor.ai’s latest innovative offering provides a win-win outcome for both retailers and CPGs alike: retailers can harness the vast amounts of data at their disposal to provide useful insights for CPGs, while CPGs themselves can analyze the tangible value derived from promotional activities. These new capabilities will prove game-changing in accelerating and facilitating the shift towards customer-first online commerce in the grocery industry.”
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Stor.ai’s data analytics product suite will grant CPGs access to in-depth insights, gleaned from across Stor.ai’s network of hundreds of partner grocery stores and chains, which correlate customer engagement with store preference or demographic factors such as geography.
In this way, CPGs can accurately assess the impact of their online promotions, boost their understanding of consumer preferences, and strengthen their ability to cater to different customer demographics. Automated, real-time communication between retailers and CPGs can identify bottlenecks, helping the latter immediately withdraw promotions for out-of-stock products.
Stor.ai’s new product forms part of its holistic ecommerce, picking, and fulfillment offering for grocers seeking to manage their digital transformation while maintaining their unique brand identities and preserving the loyalty of their customer base.
In an increasingly competitive ecommerce landscape where major players such as Instacart are also developing ways to leverage consumer data in order to reduce shoppers’ loyalty to individual brands, stor.ai helps retailers use that data in a way that enhances their ability to personalize ecommerce in line with customers’ preferences and maintain customer loyalty.
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