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Retail Reinvented: Navigating AI, Next-Gen Commerce, and Startup Strategies
- There is continued interest in AI and next-gen commerce in the retail industry, with startups in these areas still receiving funding.
- Startups face challenges in getting traction and convincing retailers to do trials and proof of concepts.
- Retailers are looking for data-driven insights and actionable insights that they can generate themselves.
- Returns are a significant issue in e-commerce, and reducing returns is a priority for retailers.
- Regulation is driving innovation in specific sectors and geographies.
- Startups should focus on the problem they are solving and make their messaging simple and clear.
- Instead of doing proof of concepts, startups can offer intro pricing or guarantees to make it easier for retailers to say yes.
- The relationship between startups and corporates is evolving, with corporates seeking innovation and startups needing to be flexible in their approach.
- Simplicity and storytelling are important in telling the startup's story and getting recognized in the market.
- Startups should adopt a test and learn mentality and be open to trying different sales and marketing approaches.
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By Deborah Weinswig
5
1010 ratings
- There is continued interest in AI and next-gen commerce in the retail industry, with startups in these areas still receiving funding.
- Startups face challenges in getting traction and convincing retailers to do trials and proof of concepts.
- Retailers are looking for data-driven insights and actionable insights that they can generate themselves.
- Returns are a significant issue in e-commerce, and reducing returns is a priority for retailers.
- Regulation is driving innovation in specific sectors and geographies.
- Startups should focus on the problem they are solving and make their messaging simple and clear.
- Instead of doing proof of concepts, startups can offer intro pricing or guarantees to make it easier for retailers to say yes.
- The relationship between startups and corporates is evolving, with corporates seeking innovation and startups needing to be flexible in their approach.
- Simplicity and storytelling are important in telling the startup's story and getting recognized in the market.
- Startups should adopt a test and learn mentality and be open to trying different sales and marketing approaches.