January 17, 2020

Five for Friday: Smart solutions for retailers

Finland is your one stop shop for retail innovations.
Julia Bushueva

These five Finnish brands equip retailers around the globe with smart solutions to optimise operations, improve profitability and enhance customer experience.

The retail industry is going through a rapid transformation driven by digitalisation and constantly shifting consumer trends, meaning that the hottest innovative solutions for retailers are in high demand.

This Finnish quintet has found some clever ways to make life easier for both retailers and their customers.

Smartcart

With its easy-to-use intelligent shopping trolleys, this tech company has been solving simple problems encountered by consumers in everyday shopping since 2014. Smartcart transforms traditional shopping trolleys into personal shopping assistants helping shoppers to navigate inside the supermarket, search for products and special offers, check product information, find recipes and much more.

After securing substantial financing from keen investors, the company is continuously working on product development and international expansion to revolutionise the global retail sector.

“In a few years’ time, the shopping trolley won’t be just a steel frame and wheels; it will integrate the checkout, bonus points, information services and advertising,” predicted CEO Petteri Heiman. “We want to be the company that transforms this market.”

Walkbase

Founded in 2010 when retail analytics was a relatively unexplored entity, Walkbase is now the leading location analytics and marketing platform for retailers across the globe to measure, optimise and personalise their customer experience.

“We can analyse how many people come in to a store, where they go, what are the flow times at different locations and the aggregate paths they are taking,” explained Juha Mattsson, the CMO at the time. “Then we combine these into a statistical analysis.”

This abundance of data helps retailers in many practical ways and facilitates innovative engagement with customers, enabling more targeted promotions and marketing campaigns, fixing pricing issues and increasing customer satisfaction.

Revieve

This beauty-tech company is transforming global beauty commerce through cutting-edge technology. Revieve’s Digital Beauty Advisor, which can be used both online and in-store, analyses the selfies of shoppers and provides them with product recommendations and AR-driven digital makeup experiences.

Around a year ago, the Helsinki-headquartered company joined forces with UK-based Visual Image Display and Attic Group to bring the jointly developed digital in-store beauty solution to a larger group of brands and retailers.

“Through their state-of-the art technology platform [and] visual branding and our market-leading Digital Beauty Advisor software, provided to brands and retailers from a single point-of-contact at a flat price point, we’re changing the way retailers and brands can try out digital in-store beauty offerings,” CEO Sampo Parkkinen commented on the partnership.

Sniffie Software

Keeping in mind that modern tech-savvy consumers always compare prices before making a purchase decision, the Helsinki-based software company offers effective price monitoring, pricing and analytics tools to both classic retailers and e-commerce firms to support their profitability.

“Sniffie is best suited for companies that operate in price-intensive industries and resell products that are sold also by their competitors,” clarified co-founder and CEO Tomi Grönfors.

Selected for Google’s Accelerate your Growth Nordics programme in 2019, Sniffie is moving steadily towards its ambitious goal of growing internationally to become the most significant e-commerce revenue optimisation platform by 2027.

Rivender

A company that combines expertise from the fields of retail, technology and international B2B practices, Rivender spotted the need for its product – the automated ModulShop solution – when analysing how shopkeeping has been changing in recent years.

“In Finland, small corner shops are disappearing, and the trend is continuing,” CEO Juha Pennanen shared. “It’s by no means only a Finnish phenomenon, but visible in Europe in general. Supermarkets are getting bigger in size and smaller in number.”

The patented module units developed by Rivender can be used for selling everyday items, including those needing refrigeration, and don’t require constant staff presence, which make them the perfect solution for more remote areas, hotel lobbies and festivals, to name but a few.

Having already gathered attention in a number of European countries, Rivender believes its solution will revolutionise the retail customer experience around the world.

Text: Zhanna Koiviola

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