The competition in the retail industry grows each day making it hard for new players to stand out. However, the baseline issues are still the same. To succeed, a retailer should be able to be in his or her customers’ shoes in order to meet their requirements.
The idea is to implement customer-oriented approach not only to those who interact directly with your business but also to other clients’ categories that may still be your potential target audience with no chance to express their desires.
This is where in-depth research and analysis might come in handy. I am talking about data processing. The task may look a bit challenging at first sight. However, developers come up with new advanced platforms and tools that are aimed at solving prior business goals.
This time we will have a closer look at some promising startups in the field of automation tools and data processing platforms.
Wooqer All-in-One Retail Operation Platform
The startup has developed its self crafted SaaS-based platform letting store owners handle the process management using its ROP system. The key idea is to synchronize all interactions between departments, business components and headquarters within a single dashboard.
Although the idea is not quite new, the startup boasts $6 million of investments in addition to over 200 customers and 250,000 users in 14 different countries.
According to the latest rapports, Wooqer revenue has reached $7.4 million, which puts it in the list of industry top names such as ZeroedIn, Visier and SP SOFTWARE LLC.
The niche is overloaded with firs that deliver their solutions to retail. For this reason, Wooqer decided to focus on the startup extension creating multiple representations across the globe from NYC to Delhi.
The verdict: a “single-window” process management concept is becoming more and more popular in the retail industry. In other words, the startup is certainly a hit considering a growing demand in its functionality and features.
Satisfi Labs – AI Platform for Sports Events
The company has introduced its Answer Engine AI-based platform. Its main idea is to create an effective interaction channel between retailers and customers. The system works as a communication tool through various real-life events such as sports, shows, concerts, etc.
Answer Engine uses custom algorithms integrated with voice command assistants, messengers, contact forms and other customer acquisition tools implemented on the company’s websites. The firm is mainly focused on developing AI-based systems for mass events.
Hailing from the Big Apple, the startup has managed to raise over $6 million of investments. It is not surprising considering the popularity of sports events and shows among US spectators.
The verdict: it’s a hit but only in the United States. Other countries hardly boast the same interest to the student and lower sports leagues and entertainments alike.
Eversight Cloud – Experiment on Real Consumers
Enhanced functionality is delivered thanks to a combination of tools and instruments based on predictive analytics, cloud resources, big data, and customer behavior analysis.
Eversight Cloud brings a package of SaaS solutions that prevent risks resulted in false predictions. The system uses special micro testing algorithms to check how different marketing concepts and offers affect real customers. In other words, retailers will have a chance to pick the most successful one.
Eversight Cloud solution improves business productivity by 20-25%. As a result, it has already become a strategic partner of such big industry names as Unilever, BIC, AB InBev, and others.
The verdict: judging by $24 million of investments, global leaders in the partner list, and running solutions, the startup is obviously a bit. What other big names to partner the firm should we expect in the nearest future.
Customer eXperience SaaS Solution for Improved Customer Experience
This particular web solution is aimed at improving customers experience, which is clear from the startup name. The system generates data from various digital stores to proceed with in-depth analysis. It collects different vital parameters including product info, shipment options, preorder terms, refund policies, etc.
Then the system starts processing the collected data to identify the strong and weak spots requiring improvements or upgrades. In other words, CE lets you compare your online store with leading competitors and take your website to a higher level.
The verdict: probably a flop. The project was launched a year ago and nothing is heard from it since that time. It means failure, as leading competitors have gone unreachable during that period.
Smart Cart by Caper
A simple yet vital solution to ensure instant price calculation for consumers at the counter. Replicated from Amazon Go, the startup lacks investments for a boost. It has raised only $3 million. However, some New York retailers are interested in getting their share in the project.
The verdict: every tool is a hit in case it is aimed to improve customer experience especially if it is able to leave behind such giants as Amazon or at least get closer to them. If Caper establishes wise funding to expand the service, the project will succeed.