The Discovery 50 report, published today by RWRC, highlights innovative solutions that can support the retail sector now and into the future
LONDON, April 29, 2020 – ONVU Retail, the leading provider of 360-degree video capture and business intelligence technology, announced today it was selected as one of the top 50 retail tech start-ups operating globally, according to the Discovery 50 report published today by RWRC – home of Retail Week and World Retail Congress.
Retailers worldwide are scrutinising their business models more closely than ever, as they grapple with the impact of the Coronavirus crisis and seek to deliver sales and maintain relevance among consumers. There is a growing realisation in boardrooms that collaboration with start-ups and third parties is crucial to achieve these aims and to better position businesses within the new post-COVID-19 world of commerce.
The 50 start-ups were judged and shortlisted by a panel of retail and business experts, having all started operations in the last seven years and working with a breadth of retailers and brands to help transform their businesses, either through a pilot or full-scale solution. The report also offers advice on how leaders can open themselves up to new and different ways of thinking and the benefits this can have on the bottom line.
“Now is the time for businesses to think about how they could work differently with the start-up community and build synergies; from creating a fast-track, light-touch process for forming contractual relationships to pre-allocating some funding that can be used for trials,” said Megan Dunsby, Commercial Content Editor, Retail Week. “Many start-ups in the Discovery 50 have implemented pilot schemes within weeks of starting conversations with a retailer, while others have been able to integrate full-scale solutions in a matter of months that have delivered major return on investment.”
ONVU Retail enables retailers to understand their physical space and make it work better for them, including gathering information that is actually happening in the store and how to most effectively staff it, look after it, protect it and merchandise it. The platform integrates with various sensors around a store to deliver unprecedented levels of insight and business intelligence that can streamline business operations, as well as protect physical assets from threats.
“We’re honoured to be a part of this list of forward-thinking technology providers that are delivering solutions for retailers that are aimed at not only optimising space, but also generating valuable insight,” said Nigel Ashman, President, ONVU Retail. “As we look forward to the next evolution of the retail sector following recent challenges, retail leaders will require solutions that take into account a number of factors, calling on technology to help bridge the gap between social distancing and ensuring employee, customer and asset protection.”