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Changing consumer behavior and expectations, competition from major e-retailers, evolving cybersecurity challenges, inflationary pressures, sustainability and environmental concerns, and the pressure to take advantage of AI are all very real concerns for retailers today.
CEOs, CIOs and CFOs are finding that deep tech is actively driving business innovation and profitability. Specific use cases illustrate how AI drives value: Customer engagement and sales: Retailers and banks use AI-driven personalization to recommend products and services, increasing conversion rates and customer loyalty.
AI and Machine Learning will drive innovation across the government, healthcare, and banking/financial services sectors, strongly focusing on generative AI and ethical regulation. These trends underscore the Middle Easts ambition to become a global technology hub through strategic investments, innovation, and partnerships.
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To many people, e-commerce is synonymous with shopping on Amazon, but the reality is that a retailer has the option to use a bundle of different channels to sell and market products, and many do. In order to succeed in this ever-changing landscape, retailers need a solution that can manage these channels seamlessly.”
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Thanks to cloud, Internet of Things (IoT), and 5G technologies, every link in the retail supply chain is becoming more tightly integrated. Shanthakumar, Solution Architect – IoT, Retail Business Unit, TCS.
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The new round from Cowen Sustainable Investments (CSI), labeled a Series B, follows the company reaching profitability in April 2020 and gives Quip more than $160 million in total funding since the company was founded in 2015. Quip is focused on growth, innovation and community building among its over 7.5
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To reduce that waste, and give retailers another option for their used goods, Richter has launched FloorFound. “We are trying to put retailers in the resale business with their own return inventory.” The company is designed to manage furniture returns and resale for online merchants.
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Launched in 2016, the startup works with a network of agents, who recruit farmers and retailers to its platform. It has a network of “over a thousand” retailers and 5,000 agents spread across the country. It is this importance to the country’s economic livelihood that makes the sector a key area of focus for innovators.
Nature’s Fynd, which raised $350 million in a Series C round in 2021, created Fy, a vegan protein that can be used as a solid, liquid or powder to make sustainable foods, like meat and cheese. Meet retail’s new sustainability strategy: Personalization. To date, the company raised $187 million in total.
Last fall, delivery startup goPuff made a big splash by raising $380 million in funding and acquiring West Coast beverage retailer BevMo shortly afterwards. We believe that the company’s vision and differentiated model drive industry-leading economics and sustainable growth. billion in funding at an $8.9 billion in October).
Kenya has the largest and most thriving furniture industry in East Africa, but the sector’s potential is hindered by several challenges among them production inefficiencies and quality concerns, forcing most major retailers to settle on imports. The company is now eyeing its next phase of growth, following a $6.5 Digital-first brand.
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The innovation and ingredients, all rooted in the company’s R&D, are what differentiates the company from its competitors, he added. This year, the company launched a line of Keto protein bars, starting on its direct-to-consumer and Amazon channels, with plans to expand into retail stores by the end of the year.
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We have a supermarket, too, but we married it with local butchers, fishmongers, bakers, fruit and veg sellers, things you can’t buy in mass retail,” said ?upr. Some are building their supply chains from the ground up, while others are working with existing retailers, big and small.
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With a large fish deficit and retail prices reaching $5 per kilo, Victory Farm says it uses technology to produce more fish and drive down costs simultaneously for the thousands of market women who buy fish in small batches to cook and sell in local food markets. billion fish deficit.
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At the hub of affairs is Dhaval Mankad, Vice President of Havmor’s IT operations running like a well-oiled machine as its 72,000 retail stores dispense sweet goods in 18 states and 5 union territories across India. Could you tell us how digital innovation works in the backend of a customer-facing business like Havmor?
If you’re a CIO for a city, for example, it can apply to your city’s strategic goals , including economic growth, diversity and inclusion, quality of life, health and wellness, safety and security, efficiency and resilience, mobility, and sustainability and environment. Digital Transformation, Government IT, Innovation
The good news for the company is that even as customers are returning to retail including bookstores, Bookshop hasn’t seen a downturn. SEO isn’t exactly a skill you learn in the traditional retail industry, but it’s crucial online to stay competitive. “We After a year and a half, how is it all holding up?
The potential for telehealth across Africa is vast and promising as mobile connectivity deepens, and innovations that could potentially bridge the doctor-patient ratio gap increase according to a Deloitte report. They include Helena Foulkes , former president of CVS, the largest pharmacy retail chain in the U.S.
When retailers jumped on the trend, offering in-store and digital buying experiences, they struggled to deliver the frictionless and secure omnichannel journey that consumers expect from purchase to doorstep. We are at the very intersection of a sustainable consumer experience and the digital supply chain,” Perini says.
percent of all retail sales (2.3 eCommerce share of total retail sales worldwide from 2015 to 2021. To remain competitive, retailers must allow in-store customers to enjoy the benefits of online shopping. The country’s second largest online retailer JD.com is one the companies making the idea of checkoutless shopping a reality.
He considers proptech still in its infancy with much of the innovation coming from home buying, selling and maintenance rather than accounting. 10 proptech investors see better era for residential and retail after pandemic. It also doesn’t have a “champion company” yet leading the way.
And, it plans to invest in more innovation around its rental services. “Now more than ever, consumers value convenience, flexibility and sustainability when they shop for and use products. “Now more than ever, consumers value convenience, flexibility and sustainability when they shop for and use products.
Choose the overall experience At the same time, e-commerce is moving more toward ultra fast fashion, a development led by Chinese fashion retailer Shein. We believe in the range, to create a holistic experience for customers where we offer the best combination between fashion, quality, price, and sustainability.
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In a bid to position its brand as more tech-forward — and, in the process, foster new culinary innovations — Chipotle today announced the launch of Cultivate Next, a venture fund run by Curt Garner, the restaurant chain’s chief technology officer.
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