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Froomle has been named among the top 40 retail tech start-ups operating globally in Retail Week World Retail Congress’ (RWRC) second annual Discovery report, published two days ago.
Most retailers know they need to work with tech start-ups to give them a competitive edge - it is understanding which firms are going to truly add value that is the challenge. Judged by an a panel of retail and start-up experts*, the Discovery report tells retailers all they need to know.
Virtual try-on assistants, vertical farming, ‘save now, buy later’ payments, in-store marketing robots and bookable shop space are just a handful of fresh-thinking players featured.
And it is this fresh thinking that is required if retailers and brands are to remain competitive and balance bottom lines with customer expectations as disruption from the pandemic persists.
Drawing on case studies from Discovery, the ROI from retailer-start-up partnerships is clear:
Featuring solutions from supply chain and store innovations to personalisation, AI, data and marketing, the report looks at how retailers have benefited from adapting their businesses - and their thinking - to lean into a whole new set of disruptions, trends and challenges.
The start-ups operate across all parts of the world, from Europe and the US to Singapore and Israel, and have worked with more than 30 retailers and brands including Tesco, M&S, Nespresso, Asos, Carrefour, Samsung, Depop, AO.com and John Lewis Partners.
Koen Verstrepen, CEO and Co-Founder at Froomle added: "We're very excited and honored to be selected as one of the top 40 global retail tech start-ups. We're looking forward to continuing to support retailers in their personalization journeys in the most meaningful way possible for their specific consumers."
Ian Shepherd has been one of the Discovery judges for the past two years. Shepherd is non-executive director at Bensons for Beds, former CEO at retailer Game, author of The Average is Always Wrong and runs the consultancy Moving Tribes where he advises retailers, digital start-ups and consumer businesses.
Shepherd commented: “This year’s Discovery cohort – just like last year’s – are going to be critical to the future of our sector. A different retail sector is possible, a million miles from the old world of ‘how many stores are you going to open?’ and ‘what was your like-for-like last quarter?’ – a retail sector that marries the instinctive customer understanding any good retailer has with the innovation and laser-like focus that new technology allows.”
You can download the report here.
*The judging panel included Co: Cubed chief executive Jeremy Basset, Founders Factory managing director - retail and beauty, Isabela Chick, Bensons for Beds non-executive director, former Game CEO, and author of Ian Shepherd, NBK Retail founder and retail analyst Natalie Berg, Retail Economics chief executive Richard Lim, research director, consultant and author Miya Knights, Retail Week head of content Grace Bowden, Retail Week head of insight Lisa Byfield-Green, and Retail Week commercial content editor and former Startups.co.uk projects editor Negan Dunsby.
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