Walmart, Walgreens, and Sephora are all using artificial intelligence technology to improve the retail experience. While the majority of use cases for AI in retail have focused on enhancing the shopping experience for customers, forward-thinking analytics firms are innovating and developing new uses for their existing AI technology.
The analytics firm Fractal Analytics is pushing forward in the retail space with its own solution that relies on AI to forecast the cost of retail store remodels, as well as determine the ROI from large-scale renovation projects. Although Fractal works solely with Fortune 500 companies, the solutions it is developing could be adopted more broadly throughout the retail space.
Growers, dispensaries, and other businesses that operate in the legal cannabis industry are caught between federal and state regulations, which make banking and payroll a challenge. Despite marijuana being legal in many states, cannabis businesses are still on shaky ground at the federal level, and banks in particular are skittish about partnering with the industry. Without solid banking partners, local cannabis businesses can have trouble keeping up on payroll. So what’s the solution?
Rather than waiting for Congress to make a decision on potential regulations that would shield banks from federal punishment for maintaining accounts for cannabis businesses, more dispensaries and growers are moving toward using web-based cannabis payroll platforms designed specifically for their industry.
For years, marketers have used Google Trends to uncover insights based on search data. Now, executives at the advertising and marketing automation platform Gimbal are hoping their newest product will serve the same purpose for the physical world.
Built on top of an independent location data set, Gimbal Trends has been designed to provide marketers with a comprehensive view of consumer behavior in the real world. The product was released this morning, and already Gimbal is seeing interest from companies in the entertainment industry that are interested in leveraging the data to optimize their decision-making processes about upcoming events.
More than half of shoppers (57%) have used a retailer’s mobile app while in-store. In order for their apps to provide the greatest amount of value, retailers need to tap in to location features, including indoor mapping. When Street Fight first wrote about indoor mapping tools back in 2013, the technology was still relatively young. Now, the market has had time to mature and retailers looking at integrating indoor mapping technology into their mobile apps have an even wider array of vendors to choose from.
Here are seven companies with indoor mapping solutions for retailers.
Cannabis startups are struggling to recruit job candidates who understand the cannabis market, which is opening the door to an entirely new vertical for technology firms with recruitment platforms. With the market itself still in its infancy, a handful of key players are vying to become the go-to recruiting sources for the cannabis industry as they work to match employers with job seekers who understand the state-by-state rules and regulations that govern the marijuana market.
New cars are incredibly expensive, and most people don’t feel comfortable picking a vehicle based exclusively on two-dimensional images and whatever data they can pull up on the Kelley Blue Book website. Consumers don’t want to go into dealerships, either, so they end up delaying their purchases for as long as possible.
RelayCars thinks it has a solution.
The company has put together a program that uses augmented reality (AR) and virtual reality (VR) to help consumers research new cars and trucks. Getting a realistic view of a vehicle from their own homes helps users narrow down their selections and decreases the time shoppers need to spend test driving multiple cars.
As the industry continues to evolve, Geopath’s Kym Frank predicts that two-way communication between cars and advertisers will become even more commonplace and OOH strategies that involve connected vehicle data will be the norm among major brand advertisers.
“The car itself can communicate with digital displays to trigger optimal creative, and the billboard can communicate with the dash to trigger in-app ads,” Frank says. “We are at the very beginning of seeing what is possible and measuring those impacts.”
In order for consumer-facing companies and outside technology firms to take complete advantage of the data that’s being generated by automakers, the data coming from today’s connected vehicles needs to be aggregated and normalized.
Automotive data services platforms are stepping in with technology designed to take connected vehicles to the next level. By ingesting and cleansing data from connected cars, these platforms are helping minimize the development work that’s needed to launch a wide variety of third-party apps and services.
Here are six companies that are innovating in the space.
As operator of three of the most recognized brands in the industry — Avis, Budget and Zipcar — Avis Budget Group represents a mobility ecosystem of more than 11,000 locations in approximately 180 countries. The company recently partnered with the connected-car data firm Otonomo to manage its connected cars on Otonomo’s automotive data services platform. Otonomo will help ABG derive insights from its large connected vehicle fleet, including anonymizing, standardizing, and delivering data from Toyota, Ford, Peugeot and GM vehicles.
The deal between ABG and Otonomo is expected to generate more than 4 billion road miles of data this year, and 7 billion road miles of data by 2020, with much of that data being used for predictive maintenance, smart city planning, and streamlining of the rental process.
In the on-demand food delivery vertical alone, revenue is expected to reach $94 billion this year. Other verticals, like beauty, parking, health, shipping, and marijuana, are seeing significant gains, as well. Although the space is maturing, investors are still seeing great growth opportunities. Any number of on-demand delivery startups has the potential to take over the space if it continues to grow as its current pace.
To understand where that growth might occur, we need to take a step back and examine which business models are proving most successful in the on-demand delivery space and how startups are implementing those business models for financial gain.
The parking technology company FlashParking wants to reimagine the way parking lots are managed. But rather than pushing “smart” technology on individual operators, the company is taking a decidedly different approach to decreasing traffic congestion in cities.
Operating under the belief that most technology solutions to urban challenges are unnecessarily complicated, the team at FlashParking is working toward solutions that redirect energy away from smart-city technology. Instead, FlashParking is pushing a system that embraces so-called “dumb cities” — cities planned and built with durable approaches to infrastructure.
Could running ads for cannabis products put digital publishers in the crosshairs of federal regulators? It’s a question that more and more publishers are asking, even as marijuana legalization continues to spread across the U.S.
In a bid to help businesses in the cannabis industry understand what is, and isn’t, legal from an advertising perspective, Dash Two released its own guide to marijuana advertising laws. The company says it will keep its guide updated as the laws continue to evolve.
There’s a renewed push in Silicon Valley to tackle last-mile delivery. The use of autonomous vehicles, drones, and artificial intelligence is what more and more vendors are pushing for. Last-mile delivery is the most expensive part of shipping, and increasing fees mean prices are only going higher. The company that can get goods from a transportation hub to the customer’s doorstep in the shortest amount of time will win the retail game, and technology firms are hoping that their innovative solutions will be the answer that retailers are looking for.
Here are six examples of companies that are working to innovate in the last-mile delivery space.
Amazon wasn’t the only retailer to see high purchase intent during its two-day event. Competing retailers saw similar successes piggybacking on Amazon’s newest shopping holiday with their own discounts and limited-time deals. This year’s Prime Day event drove a 14% spike in U.S. traffic on its first day, compared to baseline traffic from the month of June.
According to data collected by Constructor.io, an AI-first SaaS provider for ecommerce sites, among the non-Amazon companies having sales during Prime Day, search volume increased an average of more than 500%.
One of the signs that an industry is becoming more legitimate is when its major players start investing in analytics. With a recent boom in the number of data analytics firms entering the cannabis space, it’s time to reevaluate the landscape for recreational marijuana as a business.
The marijuana industry is expanding at a rapid pace. Analysts estimate the industry could reach $75 billion in global sales by 2030. With so much on the line and marijuana companies facing enormous pressure to innovate, investors are pushing for the increased use of data analytics to make more strategic business decisions.
Here are seven cannabis data analytics firms working to change the face of the industry right now.
If you want to see what retail innovation looks like first-hand, walk into a shopping mall. Faced with the option to transform or die, shopping mall operators across the country are choosing to fight back against the shifting tides in retail.
Here are seven tech firms that malls, and other retail giants, are relying on to collect and study location data gleaned from shoppers’ mobile devices.
The retail landscape is going through an evolution, with mom-and-pop stores on Main Street being replaced by e-commerce outlets that rely on sophisticated algorithms to manage virtually every aspect of business operations.
While most headlines about the transformation of retail focus on the consumer-side of the equation, there’s even more change going on behind the scenes. Competition between e-commerce and brick-and-mortar is forcing innovation in the way retailers approach the challenges that come with onboarding and retaining in-store associates.