Retail Week Live 2018: Top European Start-Ups
Retail Week Live (March 7-8), an annual conference for retail executives staged in London, saw a fleet of European retail tech start-ups pitching to attract investor interest and industry exposure. We highlight our favourites.
- Paper Planes – Hyper-Personalisation Drives Engagement: British personalisation tech start-up Paper Planes digitises leaflet advertising and helps brands individualise abandoned basket follow-ups. Plug-and-play online cookie software monitors consumers’ online browsing behaviour and detects when they abandon an online cart. This triggers an automated creation of a personalised print leaflet that displays a visual reminder of the products in the basket, alongside goods from the individual’s ‘most browsed’ product categories. Printed the same day, consumers receive the physical ‘nudge’ within three working days. The company is currently working with British fashion brand JD Williams, which has experienced a 14% basket recovery uplift since introducing the feature. See also Personalised E-Tail.
- Go-Instore – Live-Broadcast Advice: London software start-up Go Instore allows online browsers to connect with available in-store staff via live-stream video to discuss products in real time. Swedish footwear brand Axel Arigato has equipped its in-store staff with the software, alongside easy-to-use cinematography equipment including stabilisers to produce high-quality on-brand video content. British tech company Dyson uses the technology to live-stream product demos. Consumers can plug in and raise questions, with demo presenters answering in real time – changing the presentation flow accordingly. See our Hero case study in Reflexive Retail, part of our Liquid Retail Industry Trend.
- Yosh.AI – 360° Fashion Personalisation: Polish artificial intelligence (AI) start-up Yosh.AI has created a plug-and-play ecosystem of AI personalisation tools specifically for fashion retailers. Using fashion-specific proprietary algorithms (created in conjunction with Google), it features a visual search engine, an image recognition solution that automates image tagging, and an AI chatbot. There’s also a predictive recommendation engine connected to outside-sourced user profiles, providing a much clearer picture on consumer behaviour. All tools can be purchased individually, or as a package. Yosh.AI currently works with Elle magazine on a personalised chatbot to monetise its knowledge. See also Concierge Commerce.
- Iine Card – Closing the Inspiration & Action Gap: Polish visual recognition and commerce start-up Iine Card is helping content creators enable readers to buy the products shown in print magazines. Any magazine subscribing to the plug-and-play solution can recreate the magazine via an easy-to-use CMS system within a private-label app. Readers can then purchase all products shown in the magazine via an affiliated retailer network by simply hovering their smartphone camera over the pages. See also Solving Retail’s Search Conundrums.
- Increasingly – Smart Cross-Selling: London AI cross-selling start-up Increasingly deploys its proprietary ‘affordability’ algorithm to suggest a bundle of products that complement goods consumers have already bought. For instance, when buying a Nikon camera, the software suggests purchasing a flash and a camera bag by taking consumers’ previous spending habits into account – only showing ‘affordable’ options. The API solution can be downloaded and integrated with the retailer’s system within 15 minutes, and sits above their inventory software. It boasts a 12% increase in average order value.
- Zaptic – Gamified Workforce App: Manchester workforce tool start-up Zaptic has launched a mobile app specifically for front-line retail operation staff. Streamlining workload, users see all tasks in the form of ‘to-do’ challenges, showing what needs to be done, by whom and where – all on the user’s own smartphone or any other business device. Using the power of gamification, users can earn points (redeemable against brand-sponsored rewards) and achievement badges for completing activities, boosting productivity and engagement. Retailers have visibility of field activity and can track performance. See also Tech Flex: Retail’s Omni-Era Workforce.