BetterBasket recently launched!
"Real-time automated price matching designed for YOUR business."
BetterBasket provides an end-to-end solution for merchandising teams at grocery stores to help with pricing and product assortment.
Founded by Leon Zhang and Vagelis Viskadouros
🍌 Problem
Grocers and food & beverage brands need data-driven recommendations more than ever because of…
Macro impacts from price volatility,
customer pull for more localized selection,
and shrinking pricing zones as local supply chains get impacted.
Even for established enterprises, analyzing data across hundreds of thousands of SKUs (“apples-to-apples” comparisons), daily price movements, and multiple margin targets, while balancing sell-through, profitability, and customer satisfaction (especially at a time when many are being accused of “greedflation”) is an impossible task.
Current solutions are to:
Make decisions without data,
Use a labor-intensive method such as mystery shoppers, or
Get by with tools that neither raise the level of sophistication that managers can operate at nor saves them time.
🍎 Solution
BetterBasket is an end-to-end solution for merchandising, encompassing (1) competitive data, (2) visualizations, and (3) recommendations.
🧺 How it Works
BetterBasket scrapes websites and flyers for in-store and online pricing and product info. The platform's matching algorithm then uses a combination of natural language processing and computer vision methods to create a centralized product repository across merchants, geographies, and categories that describes the items and the relationships between them.
This database allows BetterBasket to give customers up-to-date and accurate competitive information on the products that they and their competitors are carrying. This includes but is not limited to historical price changes, geographical pricing (zone maps), and Venn diagrams showcasing item overlap.
BetterBasket's pricing and assortment algorithms generate pricing recommendations (with the ability to automate pricing in online stores and physical stores that use digital price tags) as well as assortment recommendations (products to acquire or remove). The algorithms use data from competitive intelligence, customer’s unique strategies and targets, and external variables to achieve the optimal outcome based on current conditions.
Learn More
🌐 Visit www.betterbasket.ai to learn more
🛒 Know any groceries or food/beverage brands that need help with pricing or product assortment? Make the intro!
🍏 Ready to begin your journey with BetterBasket? Start your trial!
👥 Follow BetterBasket on LinkedIn
