A Quick Dive into Retail Tech Startups In Europe…
Europe is becoming a haven to some very prominent tech Unicorns and is turning into a hub of innovation in technology. Berlin, London, Stockholm and many other cities have transformed themselves into tech hubs today.
Statistics say that since 2015, nearly $130 bn has been invested across the continent in nearly 23,600 equity deals to tech startups in the European continent alone. It is interesting to note that despite the Covid-19 pandemic and the impact of the same on the global supply chains, 2020 still managed to produce major tech breakthroughs along with some profound startup launches and growth stories.
From shelf monitoring to increasing brand engagement, retail tech startups in Europe have developed amazing solutions for the global market. European Retail Tech Startups have driven $26 trillion revolution and the retail tech landscape in the continent seems to be at its peak.
The Retail Tech landscape includes technologies that are used both online and offline, they might be used at the same time. Some of the prominent European Retail Tech startups:
Nextail is an AI based start-up, which is bringing a massive transformation to retail merchandising. The team offers an agile, data-drive approach for robust operational efficiencies and quick results. Nextail helps to reduce excess inventory, improve revenues along with empowering the store teams. It caters to everything from buying & reorder, allocating stocks, transferring stocks among stores coupled with data engagement.
It is one of the most promising retail tech start-ups to watch in 2021.
Recoshelf offers smart cameras for efficient sales in order to help retail stores keep an eye on their stock continuously. The out of stock position will make you lose 40% or more customers. We are not in the era where you would rely on manual audits, which are expensive and error-prone. Get the latest eyeing technology and monitor everything constantly with Recoshelf. The main features of the smart cameras are OSA monitoring, price monitoring, planogram checking and shelf auditing.
The CEO of this retail-tech start-up from Europe has created a unique way of gathering and processing in-store data by utilizing the power of crowdsourcing. It is time to supercharge your retail execution powered by image recognition and machine learning (ML) technologies. A few benefits of using BeMyEye is tracking analytics stack for consumers, monitoring in-store performance and identify problems and issues in the real-time. Trusted by more than 300 companies like Dyson, Nestle, Unilever, PepsiCo and so on, BeMyEye helps your store force deliver impactful sales.
Mercaux is already on its way to make its mark in 2021 by bringing digital in-store, transformed shopping experience for the consumers. Mercaux is essentially a B2B SaaS in-store tech platform for retailers. The platform is capable of offering AI-driven styling tips, streamline store communication, and offer advanced analytics. It offers smart solutions for sales associates, consumer and HQs. Mercaux can be your merchandise partner that will offer practical and flexible solutions.
The main idea behind starting this retail tech startup is to deal with the problem most of the retail stores of today are facing – GeoBlink comes with advanced capabilities, predictive analytics to add robust and actionable insights for the retailers. Based on such insights, their clients like KFC, Iceland, Ikea, Danone and so on are able to manage location from end-to-end.
MishiPay is the most popular among European consumers as it enables them to complete their shopping from their smartphones. The system works in a way where the consumer doesn’t need to stand in the checkout queue, helps create a shopping checklist and collect things at home. It is just a scan, pay and go model. The system saves time of the consumers as well as the store managers. If a customer tries to sneak away without scanning the barcode, the strong alarm system will sound immediately. It offers smart, secure, safe and quick ways to transform the retail business in Europe.
Until now Europe’s startup scene was overshadowed by Silicon Valley tech innovators, but things will change. The continent has given rise to enough tech startups with more than 60 tech startups valued above $1bn.