Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the retail industry. This time, you get to discover 5 hand-picked food retail solutions.
Out of 669, the Global Startup Heat Map highlights 5 Top Food Retail Solutions
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 669 exemplary startups & scaleups we analyzed for this research. Further, it highlights 5 retail startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these 5 startups & scaleups in this report. For insights on the other 664 food retail solutions, get in touch.
Wasteless optimizes Dynamic Food Pricing
Presently, the increasing number of online grocery stores and supermarkets is making food and food items more accessible. However, a large portion of perishable food items in online grocery stores and supermarkets goes to waste. Introducing dynamic pricing helps in shelf clearance as well as maximizes profits for retailers. Therefore, startups are developing dynamic pricing models to aid retailers in minimizing food waste.
Dutch startup Wasteless offers dynamic food pricing. The startup’s solution employs reinforcement learning to identify and learn the customer’s buying behavior. The system analyzes customer’s responses to dynamic pricing and develops the optimal discounting policy. This helps online grocery stores and supermarkets to map a series of optimal prices based on inventory stock and time of day.
Robomart develops a Contactless Food Retail Store
With the lockdown due to the COVID-19 pandemic, the footfall to the grocery stores and supermarkets decreased. This led to losses borne by the store owners. Online channels have gained traction. However, with small purchases like snacks, it becomes a hassle to stack the carts and bear delivery fees. Therefore, startups are developing mobile grocery solutions to help food retailers reach a wider consumer base.
US-based Robomart offers an autonomous contactless food retail store. The startup provides Snack Robomart that carries candies, chocolates, chips, cookies, and more. The user hails the robot through an app, picks the items from Robomart, and the system automatically generates the receipt using radio frequency identification (RFID) sensors. The system is enabled with a cooling system for segmented temperature control of products. This enables retailers to stack the vehicles and provide customers with a hassle-free shopping experience.
FreshToHome offers an Online Seafood Marketplace
Presently, fish retailers rely on their knowledge about local demand and seasons for managing supply according to demand. However, they face challenges due to unpredictability in supplies and orders, resulting in wastage. Besides, due to a lengthy supply chain and short shelf life, maximizing profits is challenging for retailers. To this avail, startups are developing solutions to optimize the seafood supply chain.
Indian startup FreshToHome builds an online seafood marketplace. The startup’s online marketplace allows fishers an online marketplace to sell fresh seafood, as well as chicken and meat products directly to the consumers. This reduces the dependence of the fisherman on the intermediaries for sales and increases profitability.
YourLocal provides Food Surplus Retailing App
The stock inventory of perishables piles up with local food retailers and supermarkets towards the closing of the day. Only discounting the products to clear the shelf is ineffective as it is limited to consumers who visit the retail store. To increase consumer reach and reduce wastage, startups are developing platforms helping retailers gain access to a wider consumer base.
Danish startup YourLocal provides a food surplus retailing app. The startup’s solution enables local retailers to list perishables and surplus food at a discounted price on the app. The app notifies the consumers when the selected restaurants post surplus food availability, enabling them to book their food via the app and pick them up directly from the outlet. This enables retailers to manage perishable goods while helping local economic boom and carbon footprint reduction.
Le Bread Xpress creates Micro Bakeries
Presently, bakery products are available either in grocery stores or bakeries. The limited availability of freshly baked items at retail centers presents an opportunity for food retailers as consumers prefer freshly baked items. To this avail, startups are developing automated bakery solutions by upgrading vending machines to provide customers with freshly baked food items.
US-based startup Le Bread Xpress creates robotic micro bakeries. The startup’s solution integrates refrigeration and quick bake capabilities in a vending machine. The robotic machine bakes pastries and other bakery items on demand. The solution provides consumers with freshly baked bakery items on demand while reducing wastage.
Discover more Retail Startups
Retail startups such as the examples highlighted in this report focus on direct-to-consumer (D2C), food distribution, and demand forecasting. While all of these technologies play a major role in advancing the retail industry, they only represent the tip of the iceberg. To explore more retail technologies, simply get in touch to let us look into your areas of interest. For a more general overview, you can download our free Retail Innovation Report to save your time and improve strategic decision-making.
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