Swiftnlift
By: Swiftnlift Business Magazine- The 10 Most Prominent Retail Startups In 2019
- Published on December 9, 2019
- Swiftnlift Business Magazine
- Issues 20
- Language - English
- Published daily
About this issue
The retail industry has a long legacy in India. In olden times, markets and fairs used to get set up over weekends and holidays. These were the primary source of entertainment for villagers, but slowly they became the hub for transactions of goods where people used to exchange and buy things they needed. As the country developed, a more common form of retail business came into existence. Most of the retail business started happening through convenience stores, also known as mom and pop stores, or neighborhood stores. The retail market is growing at quite a fast pace in India. With a population of over 1 billion people, India is a highly attractive market for domestic and global retail players. The total retail market in India is estimated to be around $780 billion, which accounts for 10% of the country’s GDP. Out of this, 90% is unorganized retail business and around 10% is organized. Kirana stores form the major chunk of unorganized retail market. These shops dominate the Indian retail market, as most Indian consumers still prefer to go to the nearby neighborhood shops to buy daily groceries and consumable items. However, with the growth of e-commerce, fast free deliveries and organized retailers, this is starting to change rapidly. This is further confirmed by the projected growth rates. While Unorganized Retail market is expected to grow at just about 11%, the organized retail market is far ahead with expected growth rate of 19%. It is clear to retailers that will have to adopt latest technologies to stay competitive. Sensors and cameras are now being used to provide hassle free shopping experience to consumers. Amazon has launched a chain of convenience stores called Amazon Go in select cities where feedback from cameras and sensors is integrated with technologies like Computer vision and Deep learning. This combination of cutting edge hardware and algorithms allows users to simply pick an item and leave the store – no need to pay at the counter, no facial recognition required, no product scan required. This technology is not only automating the purchase process, but it is also providing very important data to Amazon that forms the basis of further intelligent solutions. For instance, the cameras installed in the Amazon Go stores not only capture what the users are picking, but they also store information about products which were picked up by the user, but were placed back on the shelf. Artificial Intelligence (AI), Machine Learning, Robotics and Internet of Things (IoT) are pushing retail and commerce into the next phase of the connected experience. The result would be superior customer service, easier and safer shopping experience, lower costs, better inventory and logistics management, and a lot more exciting innovation in retail. Swiftnlift brings you “the 10 Most Prominent Retail Startups In 2019 ” A distinguished panel of the industry’s topmost CIOs, CEOs, VCs and industry experts including Swiftnlift’s editorial board has scrutinized the list of companies in different business touch points. The list intends to help Retail Startups to address the current market challenges and businesses to enhance their digital user experience.
About Swiftnlift
Swiftnlift magazine is one of the fastest growing business magazines in the world. Swiftnlift has cemented the US-INDIA technology boom and provided the most relevant and critical content for this ecosystem by projecting stories of burgeoning entrepreneurs, outstanding technologists and accomplished CEO’s, along with business analysis, leading technology trends and opinions specifically impacting business and technology in India and the U.S. This US-INDIA technology has now resonated globally and created global demand for tech products and services. Covering everything from fast-growing start-ups to companies who’ve been in business for years, Covering a broad, each range of subjects issue contains articles that will prove useful to CEOs and individual investors alike. Articles include profiles of companies and private investors, as well as helpful statistics. Swiftnlift Magazine is an innovative about the current business revolution. With technology and business practices changing more rapidly than ever, Designed for young executives and entrepreneurs of small to high-size companies, Swiftnlift Magazine is filled with advice and practical answers to your business questions. The Swiftnlift is one of the most widely recognized and well-read current affairs publications. Swiftnlift Magazine is a publication designed to help you manage and grow your company. In Swiftnlift Magazine, you’ll also read inspiring stories from successful entrepreneurs. Swiftnlift Magazine is dedicated to bringing readers the latest news on the high-tech businesses that are changing our future. With Swiftnlift you’ll have the insights you need to take advantage of the new reality and thrive in today’s complex global economy. Swiftnlift magazine reaches out to all the founders,co-founders,managing directors, CEO, CFO, CMO, CTO, CIO, CHRO, VPs,VCs,consultants, and HRs of various industries. What has made swiftnlift the default platform is its editorial coverage of some of the most powerful and promising entrepreneurs from the community over the years such as Satya Nadella, Ajay Banga, Sundar Pichai, Shantanu Narayen, and Kenneth Kannappan, to name a few. Our editorial excellence and vast bandwidth has brought insights from industry leaders from firms such as Tibco, Netscout, Microchip, Logic, Syntel, and Cavium Networks from their early entrepreneurial journeys to becoming public companies. These big foot prints have become the quintessential links on swiftnlift to lead the next generation of entrepreneurs and technologists.