GroupBy Named 2023 Modern Retail Award Finalist

Originally published here in Business Wire

TORONTO--(BUSINESS WIRE)--GroupBy Inc., a SaaS-based B2C and B2B eCommerce product discovery technology leader, has been shortlisted for the Modern Retail 2023 Awards in the Best Back-End eCommerce Technology category. The company's AI-first Product Discovery Platform powered by Google Cloud Discovery AI is revolutionizing eCommerce by empowering merchandisers to work on revenue-generating business initiatives while optimizing search results for revenue and boosting key sitewide metrics like AOV, conversion rate and revenue per search.

The Modern Retail Awards recognize the companies and campaigns modernizing retail in the digital age. The program honors a range of categories, including ‘Best Use of Emerging Technology,’ ‘eCommerce Executive of the Year,’ ‘Best eCommerce Experience,’ and ‘Best Personalization Strategy.’ Judges from Walgreens, Unilever, Dyson and more evaluated each of this year's entries to determine the list of finalists.

“We’re honored to be one of Modern Retail’s finalists for Best Back-End eCommerce Technology in 2023,” said Roland Gossage, GroupBy CEO. “Our AI-first product discovery platform is truly revolutionizing the retail experience for both back-end talent and the customer. By leveraging the power of AI to deliver relevant, personalized and buyable search results, merchandisers are regaining valuable time that allows them to better focus on revenue-generating activities and improving the customer experience. We’re excited to be recognized leaders of this next wave of retail innovation.”

GroupBy’s next-generation eCommerce Search and Product Discovery Platform powered by Google Cloud Discovery AI is an all-in-one platform that encompasses data enrichment, search and recommendations, analytics and reporting and all the vital product discovery functions an enterprise-level retailer needs. It supports B2B and B2C brands in providing customers with relevant, buyable and hyper-personalized search results and product recommendations that are optimized for revenue.

GroupBy was the first to market with a platform fully built around Google’s next-generation retail search engine, which is AI-first from the ground up. In comparison, other solutions layer AI over keyword-based legacy technology, using manually curated search rules to engineer relevant search results. By leveraging the power of AI to optimize search results, retailers dramatically reduce the work required from merchandising teams while optimizing their entire site at scale. This frees up merchandising teams to focus on revenue-generating initiatives instead of curating search rules.

Brands utilizing GroupBy’s next-gen product discovery platform have experienced significant revenue increases of 10 to 15%. In addition to top-line gains, GroupBy users experience bottom-line benefits. By drastically reducing the amount of time spent curating search rules, GroupBy’s platform creates productivity and efficiency gains for merchandising teams as well. The platform’s composable architecture seamlessly integrates into retailers’ tech stacks with minimal disruption and can be up and running in as little as seven to 12 weeks, minimizing time to market and maximizing ROI.

Modern Retail award winners will be announced on December 12, 2023. To view the full shortlist of finalists, please visit: https://www.modernretail.co/announcement/awards/instacart-poshmark-intuit-mailchimp-best-buy-and-poppi-are-finalists-for-this-years-modern-retail-awards/.

About GroupBy Inc.

Founded in 2013, GroupBy is an eCommerce Search and Product Discovery SaaS technology provider that powers some of the largest B2B and B2C brands. GroupBy’s AI-first composable platform is bringing next-generation search technology to retailers worldwide, helping to bridge the gap between consumer and merchant. Powered by Google Cloud Discovery AI, the platform consists of Data Enrichment, Search and Recommendations, Merchandising, and Analytics and Reporting providing eCommerce merchants with access to a powerhouse of products and services designed to enhance the digital customer experience. Built on AI fundamentals, the GroupBy platform is transforming eCommerce merchandising from rule-based to revenue-generating, optimizing productivity and efficiencies, and reducing time to market - allowing retailers, wholesalers and distributors to focus on business strategic initiatives that drive revenue. To learn more about how GroupBy is shaping the future of eCommerce visit www.groupbyinc.com and follow us on LinkedIn, Twitter and Instagram.