Artificial intelligence is emerging in certain consumer-facing sectors. Robots in the restaurant industry and Retail sector It is moving further into deeper analytics. One PE shop believes AI is ready to help independent grocery stores, and sees a huge opportunity.
With more than 21,000 independent grocers accounting for one-third of all grocery sales, this group represents a large portion of the sector. But many use manual processes to track inventory and manage price adjustments, creating significant inefficiencies.
“Independent grocers work with hundreds of vendors on hundreds of thousands of SKUs,” he says. Christopher GrecoPresident and CEO By storing. “Various vendors, including wholesalers and direct store suppliers, change their prices or pass out promotional offers. Independent grocers must change their own store prices based on those vendor changes. Manual processes may miss these price changes. To help automate the management of all these vendors and direct store delivery pricing They need software to facilitate changes and offers.
Nexa Equity-Supported by the store Recently found MarginMax. Target is a supplier of vendor management and pricing software for independent grocers. Storewise offers automation software for the same industry.
Nexa Equity, The opening fund recently closed.found in the store In May. The San Francisco-based company was founded in 2021 Vlad BesprozvaniThe software and fintech investor has previously led several buyout investments in the Insight Partners And Thomas Bravo.
As for grocery automation, Greco says the industry has a lot of room to grow. “The bottom line is that the industry is so fragmented, it adds complexity to the independent grocer. Storewise is working to unify grocery retailing technologies into one unified software platform so that the independent grocer can manage their entire operation.”
– Demitri Diakantonis
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