LAS VEGAS--(BUSINESS WIRE)--Shoptalk Conference -- Grey Jean Technologies, the AI-powered personalization company that provides retailers with the most accurate predictions of consumer behavior, launched today with $2 million in seed funding from angel investors and company management. The lead investor is Grey Jean co-founder and president Cosmas Wong, who was also co-founder in his last company, ENSO Financial Management LLP (EFM), which he recently sold for an undisclosed sum.
Grey Jean also announced that Hiro Sake, a hand-crafted premium spirit company, and Namco Pool, America's largest dealer of quality swimming pools and related products, are two of the first companies to implement Genie, Grey Jean’s groundbreaking AI-powered recommendation engine.
Genie uses artificial intelligence (AI) to help retail marketers accurately predict consumer purchase behavior, making it easier to target customers and prospects with contextually relevant messages that drive desired actions, improving customer acquisition and sales across all retail channels. Genie uses data such as transaction history, demographics, location, time, social media activity, preferences and behavior to predict a consumers’ next product purchase.
“Today’s consumer expects a personalized shopping experience. They’re willing to provide personal information about their shopping habits, but expect marketing messages that are specific to their wants and needs in return,” said Carlos Arana, co-founder and CEO of Hiro Sake. “Genie is the first recommendation engine that can anticipate a consumer’s needs based on the factors that drive purchase decisions, including location, price sensitivity and more. We’re excited to roll out the technology for our customers to provide the ultimate personalized shopping experience.”
The proprietary algorithms powering Genie improve personalization and micro-targeting, resulting in more conversions; higher redemption of coupons and promotions; increased visit frequency, foot traffic, time in store and basket size; and greater brand affinity. With the ability to seamlessly plug into retailers’ point of sale, CRM and loyalty systems and receive customer transaction data, implementation is fast and uncomplicated.
“Artificial intelligence is dramatically changing every industry it touches. Retail marketing is no different,” said Craig Alberino, CEO of Grey Jean. “Our team is harnessing the power of AI and leveraging decades of experience in big data from Madison Avenue and Wall Street to go beyond just creating insights – we’re driving actual actions and creating behaviors that help retailers achieve real results.”
For more about how Genie uses personalization and AI to improve customer acquisition and sales, retailers can visit www.gjny.com.
About Grey Jean Technologies
Grey Jean Technologies is the personalization company that improves customer acquisition and sales across all retail channels. Genie, the company’s AI-powered recommendation engine, provides the most accurate predictions of consumer behavior, enabling retail marketers to target customers and prospects with contextually relevant messages that drive desired actions. The company is headquartered in New York. For more information, please visit http://gjny.com/.