Retail is certainly one of the most endangered sectors by ICT, AI, VR,.... physical stores market share is reduced gradually and taken by e-commerce. But this is half the picture, in some case technology is helping retails shop solving some problems or improving the quality of their services.
in this post we will see how startups are developing solutions for retail on and off line.
e-commerce efficiency
AI assisting e-shoppers
On the 13 August 2021, commonwealth bank's X15VENTURES published an article announcing SPLASHUP as the winner of XCCELERATE21 with an AUD 150k SAFE note. SPLASHUP is a artificial intelligence software or a plugin that integrate with e-commerce software like : shopify, magento and big commerce. SPLASHUP use AI capabilities to understand shoppers search and assist them by providing granular level preferences relevant alternative products which can increase sales.
Livestream shopping
On the 1 October 2021, ARCH GRANTS published a press release announcing ONEKIN as 2021 Global Startup Competition winner. ONEKIN is a mission-driven, retail-tech company that builds low-cost e-commerce tools to help small businesses scale and operate cost effectively.
ONEKIN allow small and local business to access or do:
- live virtual retail events,
- live demos,
- chat with customers,
- sell products to customers,
Food and beverage optimization
Vending space concept
On the 13 September 2021, venture.ch twitted BOOSTBAR as the VENTURE COMPETITION first place winner in the Retail & consumer service category. BOOSTBAR is a self-service food & beverage solution that radically simplifies how companies cater to their staff & visitors out of one hand, at a lower cost than alternatives.
Dynamic pricing
On the 11 June 2021, the university of Chicago published a post announcing MATCH POINT as the 2021 GLOBAL NEW VENTURE CHALLENGE third place winner with $20k prize. MATCH POINT is a comprehensive SaaS solution to help food and beverage retailers maximize operating margins through the use of dynamic menu pricing and the elimination of menu costs.
This may be a solution for perishable foods, freshness is very important for fish for example and storage and waste cost may complicate efforts made by managers to reach efficiency. A SaaS solution is a perfect match for this kind of complication.
Supporting physical stores
Virtual queueing
On the 11 May 2021, elevateventures.com published a post announcing that OURSAFEQ has received $20k in funding from ELEVATE VENTURES community ideation fund. OURSAFEQ use virtual tickets to help businesses manage lines of people waiting for their turn.
Empower individuals with disabilities
On the 21 September 2021, ADUSASC published a press release announcing INCLUDESIGN as the winner of future of grocery retail pitch competition with $25k grant. INCLUDESIGN is a product design firm, their product LAPSNAP is a shopping basket which can be used by wheelchair users to make an easier, more comfortable shopping experience.
Mobile backoffice
On the 9 April 2021, RICE UNIVERSITY announced the winner of 2021 Rice Business Plan Competition, it's SwiftSku, a mobile backoffice and business intelligence platform built specifically for independent convenience stores. SwiftSku will receive a $432,667 in cash and other prizes.
Space for physical community
Multi use space
On the 30 June 2021, KRICKER INNOVATION HUB published an article announcing COUNTING STAR'S BOOK LOUNGE as the ignite portsmouth competition grand prize winner with $5k award. COUNTING STAR'S BOOK LOUNGE is a physical retail space that serve beverages, sells books and hosts social activities for the community.
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