RETAILIGENCE is a totally AI-driven category management solution for the retail industry. It uses data and customer shopping missions to determine the right amount of space and the exact product set to be stocked at each retail store in a chain.
Through AI, the solution tells a company how effective its category management is in pounds or dollars, utilising the RETAILIGENCE machine learning CUBE to analyse terabytes of retailer data in order to answer retailer queries.
The company has seen revenue growth of 2,500 per cent since launching in 2019 and serves major retail names including MediaMarkt Satum.
What inspired you to start the business?
I was inspired to start the businesses due to my experience in commercial divisions of retail. I found the existing solutions frustrating to use as a business user. They hadn’t evolved in over a decade and the market leaders’ solutions were frustrating. I knew I could do better.
I’m driven by game-changing innovations that have an industry-wide impact and through connections in the business world across the US, US, Europe, Africa and Asia, I knew I’d be able to create a solution that truly solves this global industry issue.
Combining experience, education and expertise, it was a no brainer to start RETAILIGENCE and it’s been great to see how far the business and I have come, influencing policy makers in Parliament and judging industry competitions with organisations such as TechRound.
How has the company evolved and what problem does it solve for clients?
After rapid growth, the RETAILIGENCE product has now been deployed across the globe in America, Europe, the UK, Asia and Africa, supporting the global retail industry.
Using AI and ML, it automatically fits the right products in each store, uplifting sales and reducing waste by over 5 per cent.
Across the industry, it’s estimated that £822 billion is lost due to inefficiency and poor category management processes from the current market leaders, highlighting a costly issue for the industry and one that RETAILIGENCE is here to solve.
What can we expect to see from RETAILIGENCE in the future?
RETAILIGENCE has already enjoyed global growth but our Series B funding should enable us to go global in an even bigger way, reaching new networks and more retail providers than ever.
We have ambitious plans to expand our sales, deployment support and consulting capabilities to grow by 10 times in the next 18 months.
Key to this growth will be expanding our presence in the US, working with industry leading companies to expand our digital logistics and technology infrastructure to revolutionise the industry.