Top 5 Retail Tech Companies revolutionizing the face of Retail Sector in India
Retail is the third largest sector in the Indian economy, with more than 12% contribution to GDP and with the advancement of the digital era the retail sector is at the forefront of adopting emerging technologies to improve operations and customer experiences. The retail tech sector is rapidly growing in India to ensure that the customer gets a satisfactory service and experience. Here is a rundown of top 5 retail tech companies which are revolutionizing the face of the Indian retail sector –
1.QueueBuster: Retail Tech Partner – QueueBuster is transforming Indian retail with its cloud-based Android POS platform. Their comprehensive solution offers billing, inventory management, online stores, CRM, loyalty programs, and advanced analytics. This adaptable technology empowers retailers to replace traditional systems, providing intuitive tools and data-driven insights for smarter decision-making. QueueBuster’s growth, with over 65,000 merchants with an eye on 55% YoY revenue jump in FY24, highlights their leadership in this sector.
2. Faire: Curating Success for Retailers and Brands – Faire’s AI-powered wholesale marketplace is changing the way retailers source their inventory. By connecting retailers with unique brands, Faire helps stores refresh their product mix, boost customer appeal, and unlock revenue growth. Their innovative approach democratizes the often complex wholesale process, empowering retailers to find the perfect products for their customers.
3. Cegid: Elevating Luxury and Specialty Retail Experiences – Cegid is dedicated to helping luxury, fashion, and specialty retailers deliver exceptional customer experiences. Their solutions focus on optimizing omnichannel operations, stock visibility, and customer engagement, ensuring a seamless journey for discerning shoppers. Cegid’s commitment to user-centric design and robust cybersecurity measures is essential for brands operating in this high-value segment, helping them build long-term customer loyalty and brand reputation.
4. PriceSpider: Unlocking the Power of Data-Driven Pricing – PriceSpider’s innovative Brand Commerce Platform gives retailers an unparalleled edge when it comes to pricing strategy. Their proprietary crawling technology gathers real-time market and pricing intelligence, helping brands of all sizes optimize pricing decisions for improved profitability and customer experience. Having served numerous Fortune 500 companies, PriceSpider’s impressive 2023 revenue of $21 million underscores its value within the retail tech landscape.
5. SPS Commerce: Optimizing the Global Retail Supply Chain – SPS Commerce has established itself as a cornerstone of the global retail supply chain. Their comprehensive solutions automate and streamline data exchange between retailers, suppliers, distributors, and logistics providers, covering everything from orders and fulfillment to product information and sales analytics. By simplifying these processes and building a unified Retail Network, SPS Commerce empowers greater efficiency, collaboration, and visibility throughout the entire supply chain ecosystem. This ultimately helps businesses get products to their customers faster and more effectively, adapting to market demands with agility in the ever-evolving retail landscape of 2024 and beyond.
These companies showcase the transformative power of retail tech. By embracing these solutions, retailers can gain a competitive edge, deliver exceptional customer experiences, and drive long-term growth.
