COVID-19 has had a strong global impact on supply chains and many other important business processes. Still, many strong and robust startups managed to achieve major tech breakthroughs and effectively cope up with the struggles presented by the pandemic.
Many startups are developing innovative solutions for brand engagement and shelf monitoring and are exponentially furthering the advancements in retail technology and grocery tech i.e., the technologies that can reduce customer churn, increase footfall and engage customers better in the retail industry.
In this blog, we have presented the leading retail and grocery startups handpicked based on a data-driven approach.
Data Annotation and Labeling
With the increasing evolution in the eCommerce and social media platforms, digital shop flows are playing an active role in disrupting the industry. It is creating a hurdle for retailers to manage their dynamic product portfolios. There comes, US-based startup Squared AI. It develops machine learning models that help startups to conduct data mining, text analytics, information extraction, and mathematical modeling. With the help of machine learning and artificial intelligence algorithms, retailers can understand consumer sentiments, use data to increase footfall, and plan strategic advertising campaigns.
Prose makes a better pathway for those who buy hair care products in mass. The startup provides customized hair care solutions and believes in the idea of giving personal care. This US-based startup offers a unique way to make things personalized. A team of proficient chemists combines natural ingredients innovatively and create shampoos as per the customer’s requirements. The high-performing formulas by Prose are giving experiential retail benefits for individual hair needs.
With a unique vision in mind, the startup comes up with a sustainable and high-quality solution devoid of slogans and labels. The founders aim to reduce the frustration with choices in children’s apparel and launched a non-perspective clothing brand. One can find clothing options in every color for every kid, no girl/boy sections. Another pinch of uniqueness offered by the brand is inclusive photography shot by real families at their respective homes. The founders of this US-e-commerce retailer intend to open their brick-and-mortar stores shortly.
It was a much-needed solution the world had been waiting for. Imperfect Foods have found out the best solutions for the overwhelming issue of wastage of food. They envision building a better food system by eliminating food waste. The startup offers edible and affordable dairy, pantry items that are delivered to customer’s doorsteps. The best thing is- they offer a discount of 30% in comparison to other grocery prices. This grocery retail business delivers conventional, organic grocery items weekly. They want to support farmers and producers by making the most of every food grain. In addition to that, the company now rescues and redistributes shelf-stable goods, seafood, meat, dairy, etc.
The Inside offers a huge range of home décor choices. It provides “custom furniture for cookie-cutter prices.” Founded in the year 2018, the retail startup gives access to a traditionally high-end decorating experience. The zero-inventory supply chain empowers the company to deliver a customization approach. The shoppers can choose ottomans, headboards, beds, chairs, sofas of any fabric style, and shape. They are creating imagery with the help of 3D rendering techniques taking shopper marketing to the next level.
The startup also offers an unprecedented range of textures, colors, patterns, textures, and considers minimalism. To date, they are known for compelling visuals, digital experience, collaborations, peer engagement, and many other technological enhancements in retail.
Tokinomo is another retail technology startup that is available for retailers and FMCG brands. It offers an in-store interactive robotic promotional display that facilitates POP sales and marketing. It is a wonderful customer engagement tool that advantages brick-and-mortar stores to stand out and experience an average 200% increase in sales. Their robot is able to make products talk, dance, and move while engaging with the customer.
Finally, we can say that the technological solutions presented by the startups in the retail and grocery fields are all set to give a new look to shopping in the 21st century. The better the retail technology, the more advanced the world would be.