2015 has seen a lot of startups trying to tackle the challenge of the digital transformation of retail. We have listed 8 that we met during the InnovFest UnBound conference in Singapore in May 2015.
Trax, monitoring shelves in the stores using image recognition technology
The main concern of retailers today is how to improve the in-store customer experience, and how to provide them a seamlessly connected experience on- and offline. The startup Accufind, with its software Buzzign, tries to connect social media with the physical stores, while Ksubaka offers touch screen displays to bring “moments of joy” in the stores.
But the big data is the real driver of innovation in retail. A better understanding of the consumer behaviour at the physical store is nowadays possible by using technologies such as image and video recognition. This is what Graymatics, ABEJA or Trakomatic are offering to retailers. Data-centric as well, Tapidata tries to replace the paper receipts into e-receipts to gather more insights about the clients purchase behaviour. Finally, image recognition technology can also be used for in-store shelf monitoring, what offers the 15M$ Singaporean-Israeli startup Trax.
Let’s have a closer look at the future of retail !