Which Greek startup is changing retail (photos)

By | May 9, 2023

Solutions that promise change and improve the relationship between suppliers and retailers -and by extension also with consumers- its platform provides Keyvote. it is fast growing tech retail company.

familiar one Greek startup based in Ptolemaida and co-founded by brothers, CEO Giorgos Papadimitriou and Aspa Papadimitriou, chief marketing officer (CMO).

HE dynamic development of e-commerce Since the pandemic period, it has brought important investments in the specific sector and high turnover in the online channel, from supermarkets to any other sector, but “the issue is that there is no adequate communication of the products in electronic commerce,” as he emphasized. at a press conference.

By filling this void, the expectation of further boosting digital shelf sales is created.

“Our platform offers the ability to automate the distribution of product information, ending the manual import and export of data“, said the CEO of the start-up George Papadimitriou, which aspires to become a “retail browser of the future” by adding codes from the supermarket, technology, clothing, pharmaceutical sector, etc. to its system.

Keyvoto brings significant new data to the management of product information available through retail channels and data from “packages” of electronic stores and online business pages.

With its innovative system, it operates in the field of Product Experience Management (PXM), offering the possibility of vendors, retailers, and third-party partners to update and manage product information across all channelsthrough its platform.

keyvoto collects all features for each retail product (ingredients, product description, packaging, promotions, weight, etc.) and for millions of codes, it standardizes the information and makes it available in a uniform way – for suppliers and retailers, regardless of the platform or sales channel they will use.

As an example it was mentioned the great difference of Skroutz compared to the large supermarket chains, since it has more than 200 content creators which creates the digital product information and continues to invest in this part.

According to Mr. Papadimitriou, the Greek e-commerce faces two problems, your organization at the logistics level and that people do not buy as much as they should because they are not offered the required customer experience and are given insufficient information about the product of their choice.

Not from the moment that enter into an agreement between a retailer and a producer, He added, to unlock the code and sell the product, the process can take up to 6 months and is now speeding up.

SE Europe, S.Arabia and VCs

HE The Greek startup started making its platform available to customers in Greece from 2022. Although it is only a year old, its clientele includes at least 20 of the largest providers of retail products (Procter & Gamble, Nestlé, Henkel, Reckitt, AS Company, Barilla, etc.), which handle more than 200 brands and collaborate with large supermarket chains, Amazon, Skroutz, etc.

Keyvoto’s investment so far amounts to 1 million euros, with own fundsthere is an equal amount of his investment plan growing, and in addition, he is in contact with domestic and foreign VCs to raise Pre Series A funds within the next 3-4 months, as long as his team is included in the next day of the company. .

The problem of incomplete product information was identified by the Keyvoto team (which is a Deva spin-off, with 15 years of experience and full service in the digital transformation of Retail and AI Loyalty systems) when in 2019 it created the Galaxy chain bonus card.

The first West Macedonian start-up employs 30 people and the number of employees is estimated to increase to 50 by the end of 2023. His plans include immediate expansion abroad, where the PXM market is growing extremely fast, targeting late 2023 to early 2024 Southeast Europe and Saudi Arabia.

It is even estimated that this market will move in the coming years with an average annual growth rate of 20%to be -worldwide- at 68 billion dollars in 2030. Its income comes from annual subscriptions, the amount of which depends on the size of the client.

“valued partner”

Keyvoto’s platform’s advanced data structure and comprehensive API automatically aggregate all product information, making the connection between suppliers and retailers extremely easy and user-friendly, according to its executives.

“Despite our relatively short activity in the marketwe have already managed to become a valued partner to many of the largest companies active in the field of retail sales,” said Aspa Papadimitriou.

The Keyvoto platform consists of a number of modules, including:

  • MDM (Master Data Management)), to access data relating to a product.
  • DAM (digital asset movement), to manage data in one place.
  • PIM (Product Information Management), It offers a complete and clear view of product information for retail customers.
  • PIDS (Product Information Distribution Services)to link product information across all the different channels of commercial interest.
  • ACI (Automated Trading Outlook)through which the user can monitor the price, availability, location of the products on the digital shelf of the e-commerce retailers, as well as the content compliance of the merchants.

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