Artificial Intelligence SaaS for prescribing optimal retail merchandising decisions

Descripción del proyecto

Inteligencia artificial para impulsar las estrategias de promoción de las pymes

Las grandes actividades y eventos de promoción son todo un negocio para los minoristas. Lo cual es todo un escollo para la industria minorista de tamaño pequeño y mediano incapaz de competir con gigantes como Amazon. El proyecto financiado con fondos europeos FORMULATE trabaja en el desarrollo de una tecnología para minoristas de cualquier tamaño. Esta plataforma de servicios se basa en inteligencia artificial y una Nube Decisoria. Este software ayuda a los minoristas a optimizar sus tiendas y atraer clientes. Les ayudará así a elegir la promoción ideal y la técnica de tarificación más y las campañas de publicidad más adecuadas. Gracias a la automatización aplicada al proyecto se logrará que sea además asequible.

Objetivo

During the fall of 2018, retail sales broke new records throughout Black Friday, Cyber Monday and Single’s day. This should be good news for retailers, but the reality is that there’s a dark side to these triumphs - a large part of growth is driven by an increase of promotions, which is eroding the margins of many retailers. In fact, our data suggests that more than 70% of all supplier promotions and well above 30% of all retail promotions are unprofitable, even after adjusting for supplier funding. Particularly this hits the SMEs that feel much pressure from large players such as Amazon or Alibaba but do not have necessary competence and capacity to survive the competition.

Formulate aims to provide a solution to these challenges by offering its DecisionCloud, a platform that combines our AI with company’s transaction data to create better stores and more satisfied customers. Whether it comes to selecting promotion items, the optimal price tactic, right media, or campaign timing, we empower the right decision for any retailer’s business. Based on our findings and our collaboration with academia, Formulate can double the impact from the merchandising decisions.

With its full automation of AI, distributed analytics capabilities, low IT cost and easy on-boarding, Formulate stands out of competition. But most importantly, the product creates a much-needed market change and generates great positive impact on the retailer-supplier dynamics. Our ultimate goal is to enable retailers of all sizes – not only the largest tech giants – to have access to advanced AI that automates merchandising decisions.

The key objective of our project is to transform an initial business plan into a robust strategy for international commercialization and to prepare for a Phase 2 development. With this objective in mind, our Phase 1 project will consist of a more precise market evaluation, assessing technological needs for further scaling and optimizing our go-to-market strategy

Ámbito científico

Programa(s)

Tema(s)

EIC-SMEInst-2018-2020 - SME instrument

Convocatoria de propuestas

H2020-EIC-SMEInst-2018-2020

Consulte otros proyectos de esta convocatoria

Convocatoria de subcontratación

H2020-SMEInst-2018-2020-1

Régimen de financiación

SME-1 - SME instrument phase 1

Coordinador

FORMULATE AB

Aportación neta de la UEn

€ 50 000,00

Dirección

Tegnergatan 34
113 59 Stockholm
Suecia

Pyme

Sí

Región

Östra Sverige Stockholm Stockholms län

Tipo de actividad

Private for-profit entities (excluding Higher or Secondary Education Establishments)

Enlaces

Contactar con la organización

Participación en los programas de I+D de la UE

Red de colaboración de HORIZON

Otras fuentes de financiación

€ 21 429,00