Online Retail/RetailTech refers to any tech innovation that helps build the future of Commerce.
The journey of retailTech has moved from pure B2C/B2B commerce to AdTech/MarTech growth around 2010. Covid 19 has moved the segment into the new era of mastering the orchestration of cross-channel commerce with no silos and seamless end-to-end customer experience. It embraces innovation applied to offline as well as online shopping, with the critical reconciliation of both in the customer journey.
According to a Gartner Report, retailers are projected to spend $268 billion on IT products and services by 2023.
AI, analytical systems, social, video content and digital payments are addressing key challenges of merchandising strategies, pricing and promotion, inventory and space planning. This is creating the right conditions for RetailTech which is here to disrupt the way we shop and the retailers do their business. At smartData Enterprises we consider RetailTech as a major growth opportunity and are passionate about projects relying on complex technology that support retailers in improving their front and back-office operation.
The focus of our applications primarily rests on customer knowledge and experience, customer journeys, transport, delivery, business intelligence, analytics , supply chain and logistics. This also includes use of artificial intelligence (AI) algorithms, to establish the minimum and maximum inventory levels for stock holding units, as well as an automatic reordering system based on factors like lead time and long-term price patterns.
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