veeve
Veeve offers an AI-assisted shopping platform for physical stores, featuring Retrofit Cart solutions with advanced functionalities like frictionless checkout, personalized deals, and GPS tracking.
AI-Assisted Shopping Platform
veeve offers an AI-assisted shopping platform that enhances the in-store shopping experience. The platform supports personalized deals, interactive store maps, and shopping lists. It provides frictionless checkout options, allowing shoppers to scan items as they go and pay directly on the cart. The platform can also analyze in-store traffic patterns, dwell times, and the effectiveness of coupons. Utilizing loyalty data and shopper location within the store, veeve's platform directs targeted offers and delivers promotions and coupons to increase basket size by an average of 20%.
Retrofit Cart Solution
veeve’s Retrofit Cart solution is designed to attach seamlessly to existing shopping carts. The AI-assisted shopping device features a 48-hour battery life and incorporates smart battery-swapping technology, making it highly efficient for continuous use. The carts are weather-resistant, theft-resistant, and equipped with GPS tracking for both indoor and outdoor locations. This solution enhances shopper engagement with aisle-aware promotions and ads without necessitating retailer integration, and can be operational in just 10 days.
In-Store Shopper Engagement
The platform significantly boosts in-store shopper engagement by offering personalized shopping experiences. Features include search and locate products, find nearby deals, and clipped coupons, all accessible through interactive screens on the cart. Shoppers benefit from tailored ads and promotions based on their location in the store, with an average of 500 ad impressions per device per day. The company reports a 95% customer satisfaction rate from a survey of 2800 shoppers, indicating the platform's effectiveness in enhancing the shopping experience.
Frictionless Checkout and Loss Prevention
veeve's platform leverages computer vision for frictionless checkout and loss prevention. The built-in payment system supports contactless checkout with end-to-end encryption, aiming to eliminate lines and reduce shrink. Integrated with store catalogs, deals, coupons, and digital planograms, the platform can be set up in 7 days. This integration creates a seamless shopping experience, reducing the typical trip time to an average of 24 minutes while increasing average spend to $65 per trip.
Media Coverage and Funding
Based in Seattle, veeve has been featured in prominent media outlets such as Forbes, CB Insights, and Grocery Dive. The company has successfully raised $6.7M in funding to develop and deploy its smart shopping cart technology. This financial support underscores the market's confidence in veeve's ability to revolutionize the in-store shopping experience and enhance customer loyalty through innovative, AI-driven solutions.