Kaustubha Phene, Founder & CEOIn today’s world where consumers have more shopping options than ever, retail chains such as supermarkets and drug stores must work extra hard to retain and attract more customers. Their plans, however, often fall short as they are built using ’backward looking’ approaches to shopper insights that don’t leverage the detailed predictive purchasing patterns of individual shoppers. Also, these plans are often managed in silos, as separate teams manage everyday prices, mass promotions and personalization and new channels such as in store pick-up and home delivery.
Having worked in the trenches with several retail chains for almost three decades, Kaustubha Phene, an experienced entrepreneur, is well versed with every nook and corner of the industry. To help retail chains keep pace with evolving customer expectations, he laid the cornerstone of Pristine Infotech, an advanced retail consumer behavior science firm. With an aim to help retailers ‘grow happy and profitable customers,’ Pristine offers holistic solutions that enable retailers to deliver personalized experiences to individual shoppers. The company’s solutions help retailers set the right combination of product choice, price, and convenience for each shopper to improve shopper experience and engagement.
“We designed an intuitive SaaS platform that leverages the capabilities of advanced machine learning and artificial intelligence to predict customer behavior with high accuracy,” says Phene. The platform generates ‘Real-time Customer Intelligence’ (updated every minute), so that retail chains can analyze the shopping patterns of individual buyers and accurately predict each shopper’s next purchase in terms of visit date, total spend, and individual products that will be bought and provide a tailored response in real time. The platform depicts the purchase profiles and behavioral trends of each household and the upcoming spend and margin the retailer can expect given its upcoming everyday prices, promotions, and personalized offers. Based on these insights, the platform generates recommendations to take suitable actions.
We designed an intuitive SaaS platform that leverages advanced machine learning and artificial intelligence to predict customer behavior with high accuracy
These actions can be everyday prices, advertised promotions, or personalized discounts and content. Recommendations can also include product assortment and in-store placement.
To ease the onboarding process, Pristine offers its SaaS platform as a web application. The platform accepts client data as is, in its existing format, processes it, and delivers the results in the client’s preferred format. The platform provides detailed insights and prescriptive recommendations at shopper level, store level, or market level insights to leverage customer growth opportunities.
Pristine leverages the deep retail expertise of its employees to deliver the right solutions to clients. Having supermarket veterans as part of its workforce, the company brings a deep understanding of the market, and it approaches clients with ready but highly configurable solutions. In one instance, Pristine enabled a reputed supermarket chain to implement a new pricing approach within a 4-week timeframe without any customization.
As an independent, self-funded company, Pristine re-invests a majority of its profit in applied Research and Development to create solutions for the future. With an aim to expand its footprint, Pristine is making sure that its vision is aligned with the objectives of senior management of evolving and existing retail chains. The company is focused on venturing into other retail sectors for improving its sales, marketing, and outreach services in the future.