Innovating Category Management - Groceryshop 2023 and the Future of Retail
Groceryshop 2023 was an excellent conference for being exposed to new solutions, making new connections, and strengthening old ones — three days filled with nonstop great content and efficient networking meetups—a view of established solutions and a glimpse of tomorrow's.
The solutions expo covered a broad spectrum of products. Indeed, the traditional solutions in category management were present. The infusion of artificial intelligence and computer vision into legacy solutions was at the center and focus of offerings. Below is a recap of the solutions that stood out to me most.
Space Management
As I entered the exhibitor hall, the strategic and expanded presence of RELEX Solutions was immediately noticeable. It is making itself known throughout the solution space — it’s worth looking at its recent client acquisition — and it made a good appearance at Groceryshop with an impressive booth size and location as well as good associate attendance. What was also apparent was the absence of Blue Yonder, the current leader with the majority market share in this space.
It was encouraging to see the progress 345 Global has made with a goal to reimagine retail. The company is on track to build a space management solution for the future. With the gaming platform at its base, it was eye-catching as you walked by its booth, which focused on showcasing live working software.
Robots
Although the leading robot companies with solutions for the front of the store were in attendance, only Badger Technologies had a booth to showcase its solution. It included an actual robot scanning products on shelves.
As for Simbe Robotics's CEO, Brad Bogolea participated in a technology-transforming retail panel session.
We are slowly seeing the robots scale in front of the store. Where is the journey headed for robots in retail? I have more to share on this topic in my next expanded report on Robots in Retail.
Image Recognition
One common feature noticeable throughout the conference hall was product identification using handheld devices for shelf compliance and on-shelf availability. Companies showed the numerous approaches you can use to tackle the problem and to collect and process images. Differentiation will continue to be critical in tandem with clear messaging.
For handheld devices, Google hosted the weR solution in its booth. It is a planogram collection and store digitization solution built on an AR platform. Although it is not the first company to use this approach, the implementation and experience certainly got attention. I liked the immediate feedback they provided while using the app, but what stood out was the ability to digitize a store.
I look forward to learning more about this capability. Several other new handheld data capture companies were present and are worth further review.
Another new startup, coming out of stealth mode, is Augmodo, which uses augmented reality glasses for more efficient picking.
Some of the other newcomers worth learning more about and tracking include:
- Picadeli, with an emphasis on reducing food waste.
- SmarteX, which delivers better data for compliance, operations, and sustainability.
- Standard AI, with a complete retail platform to create an autonomous retail experience.
- Veeve, with a shopper engagement platform for the physical store using a smart cart.
Computer vision and artificial intelligence inclusion in legacy and new solutions were evident in various applications. Applications range from operations and ordering to insights, sales, and compliance.
Not your traditional newcomer
Denso, a major car part and technology provider with a history of innovation, having invented the QR code as we know it, is testing some of its car technologies in retail with a focus on enhancing shoppers’ experience.
User Experience
I can’t emphasize the element of user interface and experience more stringently. We are finally starting to see gamification take hold in retail with immersive shopping platforms from the likes of Obsess. However, a large segment of industry solutions still exists in a time warp and must find an exit door quickly.
What’s surprising was seeing the dated user interfaces of some of the legacy applications still in circulation or new ones with poor, unintuitive design.
Startup Presence
The presence of Microsoft and its bold encouragement and support of startups and new solutions in the retail space was noticeable. Microsoft is in a unique position, showing leadership in the retail technology space, as an enabler helping the startup ecosystem of solutions grow on its cloud.
Future
We are undergoing a significant wave of solution evolution in retail. Although offerings are ample and some of the messaging is erratic, it is part of the process of refining products, leading to collaboration and mergers. Then, the value of these solutions becomes more evident.
From shopping patterns and traffic to product engagement and personalization, the overall focus at the expo was clear — more solution options to provide more capabilities to enhance shopper experience and provide near real-time insights across platforms.
It is abundantly clear that innovation is taking hold in retail, covering every aspect of the omni-shopping experience. New generations are making themselves known; it is only a matter of time before the capabilities mature and they become the new standards.
Related
Retailwire - Startups Disrupt Traditional Retail Solutions with Computer Vision and AI
Progressive Grocer - Time to Reinvent Space Management - Discussion
About the Author
Georges F Mirza has been ahead of trends in developing retail/CPG market-leading industry-changing solutions. He led the charge and established the roadmap for robotic indoor data collection, image recognition, and analytics for retail to address out-of-stock, inventory levels, and compliance. Georges currently advises companies on how to strategize and prioritize their roadmaps for growth. Follow him on LinkedIn and Twitter or visit InnovatingCategoryManagement.com.
Robotics l Logistics and Supply Chain Change Management l Strategy Consulting l LinkedIn Writing l Marketing
6moThis is a great article. I was incredibly impressed with 345 Global and their founder Mark Edwards. The company is in discussions with the leading retailers, pharmacies, and CPG companies globally. They’re in the process of updating their new website with their videos and more information about the company. I plan on writing an article about 345 Global once the website is live. I’d have to say what I like the most about 345 Global’s platform based on what I saw and what I was told at GroceryShop, is that retailers who leverage the software can eliminate five different software vendors. 345 Global’s platform is so well designed and capable that it’s all-inclusive. It’s a much better system for retailers to use than having to maintain so many disparate systems.
Senior Strategy Consultant | Retail Space & Assortment Planning | Category Management | Project Management | Strategic Leader driving Operational Excellence | FMCG | CE | Pharmaceutical | Q- commerce | F&B
7moThank you Georges F. Mirza for wonderful insights. Looking forward to join next year.
Thought Leader, Futurist & Retail Technology Strategist
7moThank you Georges F. Mirza for a thorough and insightful summary! So many events, so little time - was disappointed to miss it but really appreciate the call outs!
SVP Cross-Industry/Cross-Border and Technology at Kantar Consulting
7moFor me the most disruptive paragraph Georges F. Mirza: " DENSO, a major car part and technology provider with a history of innovation, having invented the QR code as we know it, is testing some of its car technologies in retail with a focus on enhancing shoppers’ experience."