If there’s any clear-cut trend the retail industry has noticed over the last year, it’s that companies that can innovate in unique ways are more likely to thrive amid the challenges of the last few years.
As online shopping continues to be a popular choice for consumers, physical stores can offer shoppers perks that e-commerce can’t replicate.
This week we look at startups to keep your eye on this year and look at how retailers are implementing computer vision into their stores.
THIS WEEK’S HIGHLIGHTS
- Startups to watch: Startups to keep your eye on in 2023.
- Computer vision retail: Increase foot traffic with simple changes.
- Old dogs new tricks: Networking and personalization to rule the retail industry in 2023.
FOOT TRAFFIC INDEX
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
Hottest Startups to start 2023
If there’s any clear-cut trend the retail industry has noticed over the last year, it’s that companies that can innovate in unique ways are more likely to thrive amid the challenges of the last few years.
For RIS’ fifth annual showcase of retail startups, editors highlighted retailers that are inspiring consumers in innovative ways.
Of the startups that made the list, Sunday for Dogs is by far one of my favorites. Soft launched in 2020, Sunday for Dogs is an air-dried dog food retailer that is quickly gaining popularity. Although the food is pricey, Sunday compares the price of the dog food to the price of everyday goods you buy such as Starbucks or eating out, putting the price into perspective.
Computer vision and retail
Retailers who successfully leverage computer vision with diagnostic, proactive, and predictive analytics are gaining the much-needed competitive edge.
Computer vision provides video and audio for additional context, complementing other types of data. No matter if you are at your store for 9 hours a day, or an hour a week, it is impossible to see everything the way artificial intelligence can comprehend every second of the day.
The combination of foot traffic data and AI allows you to not only see exactly how long a customer was in a store, but you can see exactly where customers are spending their time.
Click HERE to learn more about the benefits of computer vision in retail.
Retail Snippets.
Old dog new tricks: Networking and personalization to rule the retail industry in 2023.
Retail Trends: 8 DTC retail trends to watch in 2023.
Security upgrades: NRF partners to enhance cybersecurity in retail industry.
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