Adrian J Cotterill, Editor-in-Chief
DPAA member Popspots claims to be building the operating system for grocery retail in order to improve the way brands and retailers manage and market their products in store.
Founded back in 2016, the retail tech company aims to solves some of the core challenges in the grocery industry, such as out-of-stock tracking, planogram management, and in-store marketing. With over 25 retail partners and on track to be in over 1,500 stores nationwide within the next year, Popspots is expanding their operations with a USD 5 Million Series A funding round led by Silverton Partners.
Under the trade name ‘Grocery TV’, Popspots smart displays provide video advertising in grocery checkout aisles and merchandising services such as out-of-stock tracking and planogram management. Brands and retailers use video advertising on the displays to engage customers at the checkout and lift sales on average by 13%. The displays also use integrated cameras to monitor the shelves for missing or out-of-stock items.
Popspots Co-Founder and CEO Marlow Nickell said “Out-of-stock products cost retailers billions each year, so we created a product that not only reduces losses, but also encourages sales at the checkout. We chose that location because every customer visits the checkout and spends more time there than any other area of the store.”
Paired with the displays, the Popspots web platform gives brands and retailers visibility into how their products and advertising campaigns are performing in stores. On the advertising platform, brands like Red Bull and Ferrara create campaigns, track engagement with creative, and view audience targeting. On the merchandising platform, brands and retailers like Bashas’ and SpartanNash monitor out-of-stock and planogram compliance rates at the retailer, store, and product levels.
Silverton Partners led Popspots’ Series A round alongside private investors including Texas-based accelerator Capital Factory. Based in Austin, TX, the VC firm works with entrepreneurs in high-growth industries to build lasting companies.
Roger Chen, Principal at Silverton Partners said “We’re impressed by the growth Popspots has achieved both with brands and retailers so far. Our team is excited to be their partner, and support them as they continue to scale”.
Led by co-founders Marlow Nickell, Donald Oelke, and Edward Cates, the team of 14 includes two grocery veterans, Lance and Crest Oelke with over 40 years of industry experience. Their expertise has supported the company in creating a product that simplifies retail. While they are initially focused on solving a specific set of core issues at the checkout, Popspots aims to streamline product management and marketing throughout the store.
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