BeMyEye, provider of crowdsourced retail execution monitoring services, has announced the acquisition of Russian crowdsourcing and Image Recognition provider, Streetbee.
The combination of crowdsourcing and Image Recognition allows BeMyEye to launch Perfect Shelf, a game-changing retail execution monitoring product that enables Consumer Goods companies to obtain objective and actionable in-store insights, such as share of shelf and planogram compliance, from a much larger universe of stores than traditionally visited – at a fraction of the current cost using internal resources and technologies.
With mounting pressures to find growth and efficiency, many Consumer Goods companies’ investments in IR technology are coming under increased scrutiny as the Total Cost of Ownership (TCO) has proven to be much larger than originally anticipated and the ROI has been disappointing as field forces are still spending precious sales time collecting data to effectively “mark their own homework”. This limits time to fix issues in-store and, crucially, sell. Luca Pagano, CEO, BeMyEye commented, “Field forces should not be burdened with data collection tasks, instead they should be empowered with action orientated in-store insights so they can focus 100% on selling and taking remedial action when and where it is needed” Pagano continues, “Perfect Shelf enables Consumer Goods companies to adopt a Lean Go To Market strategy, progressively eliminating waste and enhancing field performance at a time when they are under huge pressure to find growth and demonstrate a positive ROI on their field force investments”
The move extends BeMyEye’s reach to Russia and the CIS countries. With existing coverage in Europe the companies’ combined crowd of more than 1.5 Million data gatherers now enables Consumer Goods companies to get a consistent view of in-store performance in 21 countries.
Andrey Eliseev, Co-Founder of Streetbee, and now joining BeMyEye as CMO, comments, “We’ve been working with large CPG and Life Science brands across Russia and CIS since 2013, to develop one of the most advanced Crowdsourcing and Image Recognition (IR) technologies in the market. We’re excited to be joining BeMyEye and see our integrated crowd + Image Recognition solution, Perfect Shelf, deployed over such a large geographical expanse.”
Eliseev’s Co-Founders will also be joining BeMyEye in senior roles; Kirill Nepomnyashchiy, will be joining BeMyEye as VP Sales Russia and CIS, and Vladimir Lyzo will be joining as Head of Image Recognition Development.
This news comes after BeMyEye’s acquisition of their largest French competitor, LocalEyes, in 2016, and UK operator, Task360, in 2017, in moves to consolidate the industry and deliver a single international view of Perfect Store execution to its CPG customers.