Crisp, the open data retail platform for the consumer goods industry, has announced the acquisition of two separate entities: SetSight and Lumidata. Both companies are based in Minneapolis and work with retail agencies, brokers and consumer goods brands to provide sales and supply chain data to CPGs selling through Target, Best Buy, and other major retail chains.
SetSight’s and Lumidata’s agency and supplier customers represent over 2500 CPG brands, who will gain significant benefits as a result of the acquisition. Both companies bring deep retail and market insights and analytics capabilities to the Crisp platform, extending how CPGs and retailers leverage data for optimal supply chain management and business growth.
Following Crisp’s recent acquisition of Bentonville, Ark.-based Atlas from Advantage Solutions, these latest deals allow Crisp to ingest and share retail data and insights with CPG brands looking to optimize inventory, merchandising and marketing. Brands can now gain unprecedented visibility into their products’ performance across thousands of store locations to optimize operations and grow sales with multiple retail partners within one platform.
“For CPG brands to effectively use retail data to optimize how they meet consumer demand based on real-time behavioral changes has been challenging to implement at scale,” said Are Traasdahl, founder and CEO of Crisp. “Now it’s possible for thousands of brands working with the world’s largest retailers to leverage the latest data across the enterprise.”
Individual retail chains are increasingly making their data available to their CPG brands to benefit both consumers and their supply chain partners. It’s increasingly challenging for CPG brands to see the complete picture of their business in order to optimize inventory, keep shelves stocked and align supply with consumer demand across all channels.
Real-time access to a unified view across all channels within the Crisp platform allows every department within a CPG brand to identify out of stock and overstocks quickly, allocate inventory where it’s needed, and deploy accurate marketing campaigns. This ensures that consumers have a positive experience and reduces food waste while driving efficiency throughout the business.
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