Shopin, which dubs itself as the “Bloomberg Terminal for retail,” was just named the “Moonshot of the Year 2019” by retail research firm The Lead in collaboration with The Robin Report. Shopin offers retailers and brands a “universal shopper profile” solution built on a blockchain platform and powered by proprietary artificial intelligence tools.
Eran Eyal, chief executive officer and founder of Shopin, told WWD that his company aims “to deliver shoppers the most personal experience in every site and app, as well as in-store, by working with retailers to give shoppers control of their purchased data.”
“As we built out the modules, we realized there was a massive inaccessibility to purchase data-driven insights like there are in Amazon’s closed ecosystem for the rest of the world of retail, resulting in an unlevel playing field,” Eyal said. “This inspired us to create our patent-protected Retail Intelligence Data Engine [or RIDE].”
Similar to the Bloomberg Terminal, the Shopin RIDE platform serves as a one-stop solution for intel. But in this case, it’s customer data, not market insights. Shopin said it is “powered by over 3.5 billion purchase data transactions, 30 million SKU co-occurrences, 6.4 million products and tracking 71,000 fashion brands.”
Eyal said the solution won accolades at a recent GDS Summit that convened Fortune 100 retailers. Attendees ranked Shopin RIDE “either nine or 10 out of 10.” And regarding the recent citation from The Lead, Noah Gellman, chief executive officer and founder of the research firm, said Moonshot of the Year “is reserved for the early-stage company that we believe will be the highest growth company with the most impact across the industry.”
Eyal said at Shopin, “Our goal is to ensure that timeless brands stay timeless. We have looked to the rich tapestry and legacy of retail for guidance, and to the innovative leaders of [e-commerce] for inspiration to scale in order to bring these worlds into harmony in a retail renaissance.”