RETAIL TECH PICKS FROM 2019: A ROUND-UP

Point of Purchase|January 2020

RETAIL TECH PICKS FROM 2019: A ROUND-UP
Technology is fast emerging to be the game changer in retail. While this has been increasingly becoming evident in the last few years, what is interesting is the variety of applications and usages of technology in retail with a whole eco-system of technology solution providers emerging, catering to a plethora of retail needs. We at Point Of Purchase have been consistently featuring many of these technology players this year, and in the process highlighting the opportunities and possibilities with technology to improve efficiency, shopper experience and brand presence in store. Here is a round-up of what we covered this year and in the process try to pick out some key trends.
N Jayalakshmi

Data Analytics - Variety is the spice

Data is no doubt the holy grail today; we all know that. The interesting part comes in the varied ways in which data is being analysed - the objective being increased precision in shopper understanding for targeted communications and enhanced in-store experience for shoppers. Solution providers have been arriving at different permutations and combinations to map the shopper journey and this cuts across different mediums and platforms - from in-store video cameras and sensors to mobile apps and billing information. Bangalore based technology and OEM agnostic company One X for example offers customised and curated solutions that help retailers observe and analyse critically. The idea is to generate deeper consumer insights through their IOT integrated platforms. The services include customer recognition, data capture from POS, customer traffic analytics, and real time remote operational management all, of which help retailers make smart decisions.

Similarly, retail analytics start-up Veda Labs founded in January 2018 offers a deep technology platform for retailers. With the help of computer vision, deep neural network and custom technology libraries, Veda Labs helps to identify footfalls, and age and gender of each customer who walks into the retail space.

Another B2B start-up Infilect Technologies also offers AI driven tools for intelligent processing of visual data generated from retail stores. The company uses state-of-the-art algorithms to process visual information (images and videos from stores) with a high rate of accuracy regarding their product and brand performance. Then there’s New Delhi based Aaryahaan International (P) Limited, which captures the shopping journeys and behaviour of physical shoppers and are able to target these visitors on the basis of their location-based preferences. The solution matches offline customer data with online profiles and allows marketers to target more relevant ads to users

Back-end - Improved planning & operational efficiency

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January 2020