World News: 17:00 GMT Friday 11th January 2019. [Mystore-E via Businesswire via SPi World News]
Mystore-E today announced the US launch of Tore-E, an AI-based personal assistant platform that empowers retail store managers to merchandise in real time using data analytics and insights. Retailers James Allen and Value City Furniture are already using Tore-E to create more relevant in-store experiences—collecting, analyzing and delivering data-driven insights to improve store performance. Mystore-E, an AI-based retail intelligence solution operating in top retailers in Israel, recently secured seed funding of $2.2 million, led by Signet Jewelers, the world’s largest retailer of diamond jewelry and owner of JamesAllen.com.
To give brick-and-mortar stores the same analytical data advantages as their e-commerce sites, the Tore-E app is an invaluable communications tool that continually monitors and aggregates data from multiple digital channels to provide real-time merchandising recommendations from headquarters to the stores. The platform’s data analytics can pinpoint the items most likely to sell in-store based on the current top sellers on a company’s website, customer engagement on social media sites, in-store planograms, and local and regional factors.
“Tore-E gives store managers immediate access to insights that many consumers already have at their fingertips, including products trending on Instagram and current online best-sellers,” said Mystore-E Founder and CEO Asaf Shapira. “This wisdom gives sales personnel up-to-the-minute merchandising insights on the most in-demand products—not only boosting store performance but delivering a more engaging and relevant customer experience.”
Diamond bridal jewelry retailer James Allen, which recently opened its first brick-and-mortar store, in Washington, DC, and Ohio-based retailer Value City Furniture are using Tore-E to personalize and elevate the customer shopping experience. Store associates rely on the Tore-E app to translate real-time customer insights into product recommendations most likely to appeal to shoppers.
“Retailers have been in need to make their brick-and-mortar stores function more like websites; connecting touchpoints across channels by gathering, interpreting and translating omnichannel analytics into real-world solutions on the sales floor,” said Oded Edelman, Chief Digital Innovation Advisor at Signet Jewelers and President of JamesAllen.com. “We quickly recognized how Mystore-E can help close this gap and we are excited to partner with them.”
Mystore-E Founder and CEO Asaf Shapira will be speaking at NRF 2019: Retail’s Big Show in New York on Sunday, January 13th from 11:00 – 11:30 AM. Mystore-E was recently the recipient of Shop.org’s 2018 Top Exhibitor Award.
Mystore-E’s Tore-E platform helps stores function more like websites by using big data to deliver a more personalized shopping experience through recommendations and dynamic visual displays. The AI-based platform uses a combination of computer vision and data analytics to deliver actionable insights and predictions regarding retail product performance, enabling brands to maximize the value of every product and update and improve in-store displays in real time. The platform’s algorithm creates prediction models that pinpoint the items most likely to sell, improving sales and operational productivity and elevating the customer experience.
Business Wire: 17:00 GMT Friday 11th January 2019
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