As Hackquarters, we have reached out to thousands of startups combined through our various projects and programs. So it is natural that we also put “our” startups into spotlight. BuyBuddy was the winner of MediaMarkt Startup Challenge ’18, which was one of our most exciting programs for 2018.
We are accepting applications for MediaMarkt Startup Challenge ’19. MediaMarkt Startup Challenge provides countless opportunities to retailtech startups, in various verticals. Same as last year, this year MediaMarkt and associates are looking for retailtech startups specializing in 3 categories: Retail Sales Technologies, Post-Sales Technologies, and Digital Transformation Process. You can apply here.
BuyBuddy is a retailtech startup, producing smart tags to be used in physical stores. With their product, retail stores around the world get the chance to get data about their customers, as detailed as e-stores get.
You can find more detailed info about BuyBuddy from Turkey in the following sections, with their founders’ own words.
You can always apply for Startup Spotlight from this link. We will also include you into our network and you will be notified about our upcoming events, calls for programs and get exclusive invites.
What is the name of your startup?
What is the website address of BuyBuddy?
Where is your startup based?
What are your targeted verticals for your startup?
RetailTech, IoT, Enterprise SaaS, SmartCity
Tell us what your startup does.
BuyBuddy is the developer of smart shopping tags designed to help retailers manage their inventories easily and safely. Our smart tags also gather product metadata, which is analysed by our machine-learning software to provide retailers with product data similar to those obtained from online marketplaces.
Tell us about your team.
We are 7 hardworking, committed and motivated people that will change the way we understand retail.
When and why did you found your startup?
When we first started our goal was to design smart security tags that also doubled as a checkout point. We wanted to help brand create their own stores of the future. Along our journey, we discovered that retailers were in desperate need of customer and product-level data. We then were able to upgrade our product to its all-in-one state it is today.
What are your key and unique features?
• Security: Our devices offer a smarter protection. They are active devices that sense and alert the store when the product is removed without payment authorization.
• Inventory: Our partner stores can count their inventory with just tap of a button.
• Data: Buy Buddy Hitags are data points for the products they’re attached to. This way offline retailers can discover previously hidden information about their customers.
• Payment: We empower customers to pay anywhere in the stores.
What is your growth like?
After couple successful runs at startup competitions, we’ve developed our product into its final and market-ready design. We’re currently piloting with MediaMarkt in one location while our other partners are on their way integrating our solution to different platforms like Farfetch
Tell us about the numbers that matter to you.
We have manufactured and deployed more than 16K devices.
What are your plans for next year and the next 5 years?
We want to grow in clothing and consumer electronic retail in Europe and then Asia. We believe there is a huge market potential in retail. Next 5 years will be the years that retailers will invest on digitalisation and we want to be the high standard for this market.
Did you receive any investments?
Yes, we don’t want to disclose the details.
Tell us 3 startups that excite you, and why?
Aifi & Standard Cognition: Camera and AI will improve many points for the retailers.
Logistic startups: Every product we use has a cost of logistic on it, decreasing the logistic cost will save lots of profitability.