UST Global, a digital transformation solutions company announces a strategic investment into Tastry, a sensory science company. Both organizations intend to bring innovative technology to the clients to aid them to understand customer preferences.
Tastry has accurately programmed the computer to find the taste. The company has broken the barrier from direct-to-consumer selling by its sought-after technology that analyses products chemically and determines the flavors present in the product, even if it present in tenuous forms. The cutting-edge technology introduced by Tastry matches the preferred flavors and variations using its chemical analysis of products and swiftly identifies the flavors present in them. Using this algorithm the customer would be provided recommendations on which products to be purchased.
Commenting on the investment, Sunil Kanchi, Chief Investment Officer, UST Global states, "We are very excited to partner with Tastry - a true game-changer - completely innovating the way taste and flavor-based products are sold and actually matching products to people. They provide a unique, innovative way that guides selection based on recommendations that align with unique individual tastes. The CEO of one of our clients - a global top retailer - told us this is one of the best innovations that he had recently seen." He further adds, "Changing the way choices are made expands the possibilities for direct-to-consumer selling, a new way of thinking, and ultimately changes the customer experience."
On the other hand, retailers use the patent-pending method to optimize product mix, which might inflate sales, margins, and store loyalty. But, this technology serves the brands and retailers by providing science-based suggestions for product development, inventory purchase, and direct-to-consumer recommendation. Furthermore, Tastry technology also offers science-based insights for businesses to improve their strategies.
The new technology could also reverse the process to offer a chemistry fingerprint to the manufacturers to produce the products that could cater to an individual or an aggregate of individuals. Thus, the manufacturers could use this fingerprint to guide the development of new or modified products.
"Having UST Global as our strategic investor and partner expands our reach and allows us to offer our unique offering to retailers looking for a true competitive advantage," says Katerina Axelsson, CEO & Founder of Tastry. "We leverage sensory science and artificial intelligence to improve every aspect of a store's sales."