Symphony RetailAI, the leading global provider of Artificial Intelligence-enabled decision platforms, solutions and customer-centric insights that drive validated growth for retailers and CPG manufacturers, today announced that in the last 12 months the organization has accelerated its growth by increasing its customer base, bringing innovative and industry-specific AI solutions to market, onboarding key leaders, and delivering thought leadership through research reports and events.
“We’ve been a leader in providing customer-centric marketing, merchandising and supply chain solutions to fast moving consumer goods (FMCG) retailers and brand manufacturers for many years,” said Dr. Pallab Chatterjee, Chairman and CEO, Symphony RetailAI. “Our revenues have grown at double the rate of other vendors in our space, and we have continued to attract top talent that share our commitment to leading in retail innovation as reflected in our product capabilities and customer relationships. I’m very excited about the coming year, as we will be launching many more AI-enabled solutions and technology that will have significant impact on the day-to-day lives of practitioners in grocery and their ability to compete with the constant disruptions of our industry.”
Company and customer growth
Symphony RetailAI was formed in January 2018, by incorporating Symphony GOLD and Symphony EYC as two new divisions. In the last 12 months, the company added more than 125 new customers, expanded and renewed relationships with over 100 current clients, and opened extra offices in India and the UK to support the rapid growth. In addition, its solutions are used by retailers and CPG manufacturers to help manage an estimated nine billion SKUs across more than 250,000 stores, support the dispatch of over 1 million warehouse orders each day, and the creation of more than 50 million planograms every year. Symphony RetailAI also holds a deep understanding of 175 million households from $160 billion of grocery retail, and its solutions provide more than 275 million personalized, high-precision targeted offers every month.
Some of its newest customers include Action, Blokker Holding, Dia Group, Giant Eagle, Pague Menos, Smart & Final, Takeoff Technologies, Tom & Co, and TopCo.
Symphony RetailAI is bringing AI-enabled solutions to the forefront of FMCG retail, and has developed a unique natural-language speech assistant built on an AI and machine learning foundation, CINDE (Conversational INsights and Decision Engine). CINDE is the first and only digital analytic assistant specifically designed for the demands of grocery and hard goods retail. The platform empowers business users through immersive visualization in a prescriptive analytics solution that supports a customer-centric retail approach.
Another key area of innovation over the last year is the development of the Symphony RetailAI Customer 360 platform, a first-of-its-kind interactive customer data-intelligence system that uses hundreds of shopper attributes for insights beyond just purchasing behavior. Moving well beyond just point-of-sale data, the company builds on this information by appending data elements that add both depth of shopper purchase insights and breadth of shopper profiles. This creates a massive data pool which gives the company’s AI-enabled solutions with machine learning access to uncover customer trends and anomalies.
Key leaders in the retail and artificial intelligence industry joined Symphony RetailAI’s executive team in 2017. Ryan Powell, VP of merchandising and category management, holds extensive industry experience surrounding category management. Matt Kistler, who spent 14 years at Walmart, now serves as EVP chief strategy & client partner. Dr. Adeel Najmi, chief product officer for CPG 360, was previously chief science officer at JDA Software.
Thought leadership and industry events
This year, Symphony RetailAI released Supermarket 2020, announcing the key trends that are forcing rapid changes in the grocery industry, and providing prescriptive information on how the industry can transform itself with a massive re-imagination of supermarkets. Additionally, the company released the findings of its “Customer-Centric Category Management Survey of Retailers.” The survey highlights the willingness of retailers to pursue a customer-centric approach and presents a clear gap between intention and execution, which can be addressed by artificial-intelligence capabilities that synthesize complex data to enable more robust and efficient strategies that drive sales and loyalty.
In 2017, Symphony RetailAI hosted Xcelerate Retail Forums in Paris and Las Vegas, events for senior executives of retailers and consumer packaged goods manufacturers to discuss how organizations must innovate to meet tomorrow’s challenges. Xcelerate saw more than 600 delegates from 156 companies, and 38 countries represented. With its growing success, what began as regional events has now moved to a global caliber. This year’s forum on Oct. 2-4 in Boston will host world-class industry experts and speakers to continue the conversation of innovation in retail, with an emphasis on how AI can help drive higher performance.
“This has been a year of radical change in FMCG and as I’ve met with many of our customers and prospects around the world, I’m reminded of how much evolution has taken place in the development of our solutions,” said Graeme Cooksley CEO & president, Symphony RetailAI, Retail Solutions Division. “This momentum that continues to drive us comes from our close relationships with our customers. We feel their urgency to get it right in terms of developing solutions that enable them to do their jobs better, more easily, and to have the confidence to build strategies based on solid customer and organizational insights.”