Retail sector has experienced a radical change during the pandemic and the amendments are here to stay. Widespread disruption due to the pandemic caused inefficiencies in retail supply chain, in turn compelling both businesses and users to turn to technology for assistance. Artificial Intelligence (AI) driven analytics is helping retailers to make informed decisions and unlock new pockets of growth by studying patterns in consumer behaviour and preferences. AI when backed by machine learning and deep learning help in analytics for demand forecasting, supply chain management, CRM software and chatbots. Data for analysis is retrieved by IoT devices enabling retailers to meet consumer demands, such as using RFID for inventory management and more accurate service-level optimization.
Digital transformation in its wake is changing the way brick and mortar shops operate. E-commerce has been a popular trend for a few years now and is being transformed with disruptive technologies such as augmented and virtual reality (AR/VR), interfacing humans and machines. Virtual shopping using AR/VR is revolutionizing the ways in which consumers buy, allowing them to take part in the human experience of the physical store from the comfort of their homes. This service extends to packages being delivered automatically by drones that are replacing delivery personnel, which carry out the task in a fast and safe manner. The standard is no longer last-mile delivery but last-meter delivery. Customers are looking for fresh and innovative ways to engage with products and technology is finally in place to offer high quality solutions at an accelerated time-to-market. To ascertain that applications continue to benefit the market, retailers must create significant advancements in the shopping experience and deliver on the promises.
To help retailers and solution providers strengthen their operational capabilities and enable accelerated growth in the sector, Retail Tech Insights Europe has compiled a list of the Top 20 Retail Tech Companies in Europe. Besides, the magazine also includes insights from thought leaders in the sectors on the industry trends, recent innovations, best practices and their advice for aspiring CIOs and CXOs.
We present to you Retail Tech Insights’, “Top 20 Retail Tech Companies in Europe - 2021”