Mystore-E, a provider of AI-based retail intelligence, has announced the US launch of Tore-E, an AI-based personal assistant platform that enables retail store employees to manage, analyze, and track merchandise in real-time. The Israel-based startup has recently secured $2.2m in seed funding from Signet Jewelers, the parent-company of James Allen. James Allen, along with Value City Furniture, are the first businesses to incorporate Tore-E.
With Tore-E, retailers will be able to track in-store data the same way e-commerce sales can be tracked via brand websites. Tore-E works by continuously monitoring and analyzing data collected from all digital channels, resulting in real-time merchandising recommendations from corporate offices back to thier brick-and-mortar stores.
Idan Sergi, co-founder and head of strategy and business development for Mystore-E, said the idea for Tore-E came from the frustration of item unavailability in stores. Sergi explained how frequently his family would see an item online and go to the store, only to find that the retail associates were not familiar with the item or where it could be physically purchased.
Tore-E is able to narrow down the items most likely to be available in stores, based on their online performance, customer engagement, social media presence, in-store planograms, and area factors. The platform aims to enhance retailer to consumer communications and optimize the customer experience.
“Tore-E gives store managers immediate access to insights that many consumers already have at their fingertips, including products trending on Instagram and current online best-sellers,” said Mystore-E founder and CEO Asaf Shapira. “This wisdom gives sales personnel up-to-the-minute merchandising insights on the most in-demand products—not only boosting store performance but delivering a more engaging and relevant customer experience.”
Jewelry retailer James Allen has implemented Tore-E into its first brick-and-mortar store, which recently opened in Washington D.C, as well as Ohio-based retailer Value City Furniture.
“Retailers have been in need to make their brick-and-mortar stores function more like websites; connecting touchpoints across channels by gathering, interpreting and translating omnichannel analytics into real-world solutions on the sales floor,” said Oded Edelman, chief digital innovation advisor at Signet Jewelers and president of JamesAllen.com. “We quickly recognized how Mystore-E can help close this gap and we are excited to partner with them.”