Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on innovative solutions for the FMCG sector. As there is a large number of startups working on a wide variety of solutions, we want to share our insights with you. This time, you will discover 5 promising personalization solutions.
Heat Map: 5 Top Personalization Solutions
Using the StartUs Insights Discovery Platform, covering 1.379.000+ startups & scaleups globally, we looked at innovations that enable personalization in the FMCG sector. For this research, we identified 474 relevant solutions and picked 5 to showcase below. These companies were chosen based on a data-driven startup scouting approach, taking into account factors such as location, founding year, and relevance of technology, among others. Depending on your specific criteria, the top picks might look entirely different.
The Global Startup Heat Map below highlights 5 startups & scaleups developing innovative personalization solutions for FMCG. Moreover, the Heat Map reveals regions that observe a high startup activity and illustrates the geographic distribution of all 474 companies we analyzed for this specific topic.
Adrich – Big Data and Analytics
With more consumers buying online, Big Data-based personalization is becoming a major trend and a powerful tool for the FMCG industry. Big data enables analyzing customer preferences and behavior at every point of interaction with brands. This allows FMCG players to offer personalized experiences through targeted messaging, customized offers, and optimize communication across all their channels. Going one step further, data mining and intelligence tools, as well as predictive analytics of consumer interactions enable product development teams to create new offerings based on customer insights.
The US-based startup Adrich develops a smart consumer platform that combines sensor technology, real-time customer communication, and data-as-a-service (Daas). The platform leverages machine learning (ML) and analytics to generate consumer usage behavior and support FMCG companies in understanding trends, customer behaviors, and usage patterns to get closer to consumers.
Yosh.AI – Smart Assistants
Artificial intelligence (AI)-powered smart assistants employ natural language processing (NLP) to search for product information and provide customers with recommendations tailored to their needs. This also makes for easy and convenient customer experiences and helps FMCG companies to gain a competitive advantage.
Polish startup Yosh.AI develops voice assistants for product search and customer support. Yosh.AI empowers brands with direct-to-customer communication through voice recognition. This further helps brands engage with customers, discover new customer insights, and eventually increase revenue. The AI-based personalized smart assistant allows brands to grow sales and optimize cost through automation.
Matrix and Vectors – Omnichannel Solutions
Nowadays, most customers interact with brands across multiple channels. As a result, FMCG companies collect and analyze data from multiple sources including various social media platforms, web, and mobile applications. To deliver personalized experiences, brands need to utilize data they already have in addition to real-time customer data. AI and ML technologies integrate this data to create powerful omnichannel solutions to optimize customer experiences and thereby increase sales.
Indian startup Matrix and Vectors develops omnichannel solutions for the retail and consumer packaged goods (CPG) sectors. The startup optimizes business growth by tracking customer experience, sales, and supply chain movement using retail analytics tools. The solutions include online and offline interaction mapping and cross-channel contextualized marketing, as well as localized demand estimation.
Elegance.Io – AI-based Customer Loyalty
AI and ML enable marketing automation to strengthen brand personalization capabilities. Artificial Intelligence-enabled platforms create unique consumer profiles using data from all channels in real-time. This later empowers FMCG companies to offer their optimized content, personalized recommendations, and reminders.
UK startup Elegance.Io offers AI-based personalization systems enabling FMCG companies to detect anomalies and improve customer loyalty. The startup utilizes AI to detect when customers are losing interest in products. Retailers then use this data to take action before their customers switch to their competitors’ products.
Cellr.wine – Connected Packaging
Interactive packaging, such as temperature-controlled packaging and video & augmented reality packaging, brings the next generation of personalization in the FMCG sector. Moreover, these packaging solutions enable brands to communicate directly to the customer, increasing the chances of converting them. By adding value to their packaging, FMCG companies increase the visibility of their products. Interactive packaging is also highly customizable and aids in improved data collection.
Australian startup Cellr.wine offers winemakers a direct to consumer (DTC) platform to directly engage with their clients. The Cellr Platform uses near field communication (NFC) chips built into lids and labels, so brands get more opportunities to connect with their consumers directly. The platform also enables brands to activate campaigns such as giveaways, competitions, loyalty programs, virtual tasting bookings, among others
What about the other 469 solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence and enable you to achieve your goals faster. The 5 personalization solutions in FMCG showcased above are promising examples out of the 474 we analyzed for this article. To identify the most relevant solutions based on your specific criteria, get in touch.