Its often said these days that in order to take a peek at what the retail landscape might look like in just a few years time, you could do a lot worse than to jump on a plane to Shanghai.Alibaba and JD.com in particular are doing some amazing things but now you dont have to travel quite so far. For a while now, somethings been stirring a little closer to home and its time to pay attention.
Because the retail technology now coming out of Israel is game-changing. I wrote as such recently when I reported on the strides CommonSense (now named Fabric) are making in the delivery space.And last week in London there was an opportunity to view plenty more of the innovation emanating from Tel Aviv, courtesy of Retail Innovation Now, an event organised by sales and marketing agency, McDonald Butler.
Displaying some of the best technology from Israel, it also showcased the Retail Innovation Club, an organisation created to help bridge the gap between retailers and Israels retail tech start-ups. Some had a very straightforward proposition, such as Namogoo, increasing conversion rates by preventing online customer journey hijacking.
And it does exactly what it says on the tin, just ask Argos.But it is the development of personalized experiences at an individual level which perhaps provide some of the most exciting developments, such as Preciate, which describes itself as the ultimate customer recognition programme.Fed up of ordering a new outfit only to find that the particular brands size 12 most definitely isnt your size 12? Enter MySizeID.
Using the sensors in your smartphone, it can accurately take your measurements and then cross-reference them with retailers size charts. Result? The most accurate size according to which brand you are shopping.Remaining RelevantBeing relevant to your customer, on an individual level, is perhaps the single biggest challenge, not to mention opportunity, facing retail right now.
And although not present at Retail Innovation Now, another Israeli tech start-up, Anagog, might just have the answer.Over the years we have all been led to believe by the internet giants that you need to give up on your privacy in return for better personalization. With our new patented technology we have now demonstrated how privacy and personalization can co-exist.
Ofer Tziperman, CEO, AnagogUsing the smartphone to learn the consumers profile, such as location, shopping habits, interests, work patterns etc, Anagog provides a means for retailers to deeply personalize, without disclosing any privacy or personal details of the customer.Game-changing? Like much of the retail tech innovation from Israel, the answer is almost certainly yes.
The start-ups get it, now its time for all those legacy retailers to embrace some of this new and exciting technology.After all, the future of retail is guaranteed to be a very different place to the one weve all known and loved for decades. And survival wont be measured in sales per square foot but in how well you know.