New retail companies are rewriting the rules of how we shop and interact with brands. These trailblazers are not just responding to the changing retail landscape but are actively driving its transformation. With focuses on e-commerce innovation, customer experience enhancement, and data-driven retail strategies, these companies are setting new benchmarks for the industry. This article will explore:
- Trends Shaping the Future of Retail
- Profiles of 10 Emerging Retail Companies
- Tips for efficiently finding New Retail Companies
Key Takeaways
Based on insights from the Discovery Platform’s comprehensive data set of over 3.7M+ emerging companies globally, the retail industry’s current state and emerging trends become apparent and reveal its trajectory:
- Retail Trends: Retail is being reshaped by AI, IoT, data analytics, supply chain innovations, RFID technology, in-store analytics, and big data.
- Industry Statistics: Despite 59K active companies, the retail sector has experienced a 0.07% dip in annual growth over the last five years, employing around 3.7 million people.
- 10 Retail Companies to Watch:
Top Retail Trends Transforming the Industry
Retail is evolving rapidly with the integration of technology and data-driven strategies, significantly impacting how businesses operate and engage with customers.
Artificial intelligence (AI)
Artificial intelligence in retail is enhancing customer experiences, from personalized recommendations to automated customer service.
Internet of Things (IoT)
Internet of Things technology is revolutionizing inventory management and in-store experiences, offering real-time data and connectivity.
Data Analytics
Analyzing customer data is key for personalized marketing, inventory management, and understanding consumer behavior.
Supply Chain
Advanced supply chain management ensures efficiency, from sourcing to delivery, adapting to changing demands and market conditions.
RFID
Radio frequency identification technology is improving inventory accuracy and loss prevention, streamlining retail operations.
In-Store Analytics
This trend provides insights into customer behavior within physical stores, optimizing layout and marketing strategies.
Big Data
Leveraging big data allows retailers to make informed decisions, predict trends, and enhance customer engagement.
Discover 10 New Retail Companies [Selection]
Explore the short profiles of 10 emerging retail companies that are reimagining the shopping experience. These companies aren’t just responding to changing consumer behaviors; they are driving these changes with innovative retail technologies, customer engagement strategies, and novel business models. They epitomize the future of retail in a digital world.
Note on Signal Strength
One of the unique metrics we feature for each company is Signal Strength, a proprietary data point generated by our Discovery Platform. Signal Strength gauges the extent to which a company’s influence has permeated the global ecosystem of startups, scaleups, and emerging companies. This proprietary metric serves as a valuable guidepost for understanding a company’s standing in the broader market landscape.
1. Retail VR
Founding Year: 2018
Employee Range: 11-50
Location: France
Signal Strength: Very strong
What they do: Retail VR’s 3D merchandising solution enables retailers to test store layouts and displays in 3D, facilitating team collaboration on merchandising strategies. It also integrates augmented reality (AR) to enhance in-store experiences, aiding retailers in optimizing customer paths and maximizing sales.
2. Wysupp
Founding Year: 2020
Employee Range: 11-50
Location: Portugal
Signal Strength: Strong
What they do: Wysupp specializes in supply chain optimization and consulting, allowing retailers to streamline operations through demand forecasting, inventory management, and efficient resource use. This engages suppliers in the process for improved performance across the supply chain.
3. Finiite
Founding Year: 2020
Employee Range: 2-10
Location: USA
Signal Strength: Very strong
What they do: Finiite’s retail marketing software utilizes AI for customer experience enhancement. It features virtual skin assessments and personalized product recommendations as well as integrates with retailers’ CRMs for targeted marketing and sales analytics.
4. FaindersAI
Founding Year: 2020
Employee Range: 11-50
Location: South Korea
Signal Strength: Very strong
What they do: FaindersAI offers AI-driven, checkout-free store technology to enhance retail experiences with its Super Swift store in Seoul. Customers benefit from fast, line-free shopping and swift payments while the store benefits from enhanced efficiency through real-time inventory and customer analytics. This innovation blends e-commerce’s digital convenience with the physical retail experience.
5. Cognitiwe
Founding Year: 2021
Employee Range: 11-50
Location: Estonia
Signal Strength: Very strong
What they do: Cognitiwe provides AI solutions for retail shelf monitoring. Employing computer vision, its platform analyzes data from store cameras to offer insights into product freshness, shelf stock levels, and fraud detection. This approach improves inventory management and customer service while also preventing losses. Consequently, the company’s solutions allow retailers to automate and optimize their daily operations.
6. VIVIDI
Founding Year: 2019
Employee Range: 11-50
Location: Czechia
Signal Strength: Very strong
What they do: Retail stores from VIVIDI offer a unique solution for retailers to gain insights into customer behavior. By analyzing customer data, businesses understand demographics and satisfaction levels to enhance their marketing strategies. This project, supported by the Czech Republic’s Technology Agency, respects individual privacy while providing valuable insights, allowing retailers to tailor their offerings to meet customer preferences more effectively.
7. Okkular.io
Founding Year: 2018
Employee Range: 1-10
Location: Australia
Signal Strength: Very strong
What they do: Okkular’s AI technology automates the generation of detailed product descriptions and tags, enhancing product discoverability and personalization. The AI analyzes visual product data, ensuring that search-relevant terms are accurately applied. This streamlines online retail operations and improves customer shopping experiences.
8. Facenition
Founding Year: 2019
Employee Range: 1-10
Location: New Zealand
Signal Strength: Very strong
What they do: Facenition specializes in smart retail analytics using GDPR-compliant facial recognition and AI. The company’s platform offers demonstrations of AI analysis capabilities, allowing businesses to upload photos for analysis or choose from preprocessed sample images.
9. Retellect
Founding Year: 2019
Employee Range: 1-10
Location: Lithuania
Signal Strength: Very strong
What they do: Checkout vision systems by Retellect use AI to recognize products at self-checkout lanes, notably improving efficiency by quickly identifying non-barcoded items like fruits and vegetables. This technology integrates with existing checkout infrastructure to enhance both staff productivity and customer shopping experiences.
10. Dayta AI
Founding Year: 2018
Employee Range: 11-50
Location: Democratic Republic of the Congo
Signal Strength: Very strong
What they do: Dayta AI’s Cyclops develops a comprehensive shopper analytics solution that analyzes vast amounts of security camera footage daily. Running on Amazon Web Services (AWS) cloud infrastructure, Cyclops provides real-time, accurate customer behavior analysis to better understand and respond to shopper dynamics. This AI algorithm, trained on actual retail data, adds an intelligent layer to existing security systems, scaling with the retailer’s expansion.
Emerging retail companies are at the forefront of changing how we shop and engage with brands. These organizations are redefining the retail landscape, blending technology with customer experience to create more personalized and convenient shopping environments.
Charting the Course in Retail – Quick Tip to Find New Retail Companies
Finding new retail companies like the ones in this article is more efficient using platforms like the Discovery Platform: Here’s why:
- Efficiency: Automated scouting tools streamline the research process.
- Comprehensive Data: Provides up-to-date information on retail industry trends and emerging companies.
- Customization: Filters searches based on specific retail interests, including e-commerce innovations or customer experience enhancements.
Preview: StartUs Insights’ Discovery Platform
Next Steps
To delve deeper into the retail sector, explore our detailed (and free!) Retail Report or get in touch for a personalized demo of the Discovery Platform to stay informed about the latest trends and innovative retail companies.
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