‘Tinder for retailers and suppliers’ lands big investment
Product Guru, an online platform described as ‘Tinder for retail buyers and product suppliers’ that has received interest from major brands including Tesco, has secured a £300,000 investment.
4 June 2019 | 0
Product Guru was launched in September of last year after founder Simon Coyle spotted a gap in the market. “After running my own companies for nearly 20 years,” he said, “I have first-hand experience of how difficult it can be for emerging brands to get their products in front of retail buyers.
“Retailers have lots of customer-facing modern technologies in their stores,” he continued, such as automated checkouts or digital ads – but Product Guru is the first technology platform to shake-up their back-office product discovery operations and make it easier to discover the latest trends and find exciting new products for their customers.”
Coyle says the £300,000 investment will allow Product Guru to develop its platform for both buyers and suppliers using analytics and intelligent recommmendations, while marketing the service too a much wider audience.
“Buyers are pushed for time,” Coyle added. “Product Guru makes it quicker, easier and – ultimately – cheaper for them to connect with potential suppliers.”
Product Guru operates a “freemium” business model, providing basic features free for suppliers and retailers, with a subscription service available to brands providing sales analytics, product engagement statistics, product trends and other rich-data analytics.
Could Product Guru be the next big thing? We’re certainly intrigued.