21 startups that could change the way retailers do business
Retailers are looking outside their own walls for the next big thing.
Competition is fierce and the stakes are high. To stay ahead, Iterate Studio co-founder Jon Nordmark says retailers must capitalize on existing strengths, stay open to new ideas and be nimble enough to act quickly.
Nordmark’s company is “a global ‘speed dating’ platform for enterprises and startups,” a sort of innovation marketplace where larger companies can partner with pioneers in emerging technologies like deep learning, robotics, 3D printing and drones.
Here’s a look at the startups that pitched retail executives at NRFtech’s inaugural “Tour of the Possible” in San Francisco.
- Tapcentive — Mobile engagement platform creating new customer experiences in physical locations
- Fiverun Commerce Cloud — Next-generation inventory and point-of-sale data that syncs with existing legacy infrastructure
- Balam — A platform that tracks and analyzes real-time user behavior and movements in a physical environment
INTERNET OF THINGS
- Twyst — Smart shopping bags that make self-checkout as easy as walking through a store’s exit doors
- Electric Imp — “Amazon Web Services for IoT” that make it simple to connect devices to the Internet
- HiKu — Smart kitchen tool that uses voice recognition and bar code scanning to help consumers build digital shopping lists
BIG DATA AND ANALYTICS
- IBM Watson — A cognitive computing system that recognizes natural language and now has an open API with 300+ partners developing thousands of new applications
- Nara Logics — Real-time personalization that uses “neuroscience-based AI” to outperform segmentation, popularity-based algorithms and curated recommendations
ONLINE AND MOBILE
- Yottaa — A platform for managing and securing web apps, improving mobile site speed and user experience
- Fanplayr — Dynamic promotional offers generated by advanced segmentation and real-time insights
- Brandlock.io — Anti-malware and anti-adware tools that improve site performance and protect online brands
- Elevaate — “Digital shelf space” management that connects on-site activity to supply chain inventory
- SecondFunnel — Content-focused landing pages that boost discovery and inspire gift-givers
- Chute — Social commerce platform that helps retailers collect, curate and display user-generated content
- Captivate.ai — Automated emails with personalized content and relevant messages at each stage of the shopping journey
- Thrive Commerce — White-label option for centralized management of online deals and coupons
- Brand VO2 — Analytics software that monitors social and e-commerce data to determine a predictive “brand health” score
Opportunities for innovation
When Intel needed help exploring the human side of the technologies it was pioneering, the company turned to Australian anthropologist Genevieve Bell.
Now a vice president and research fellow at Intel, Bell has identified 10 components of the human condition that can help digital companies make a lasting impact on consumers and culture. Building for the “stable” list ensures moderate success, but building for the “in flux” list opens up opportunities for enormous innovation.
Get all the details in STORES Magazine’s recap: “Being Human in a Digital World.”
How retailers can create a culture of innovation inside their organizations and across the industry.nrf.com
This story was originally published as part of the NRFtech 2015 Playbook. Download playbooks and other free resources from the NRF Retail Library and learn more about NRFtech 2016, the conference for retail CIOs, CMOs and senior digital leaders.