Retail is no longer about clunky checkout lines, stockouts, and frustrating shopping experiences. It is getting its long-overdue transformation with AI startups leading the change. From automation to predictive analytics to cashier-less stores to smart inventory management, these startups are making shopping experiences more seamless and efficient for consumers while boosting business growth. Here, we have compiled a list of top AI startups revolutionizing retail in India.
Onebeat
This platform with its unique AI-driven Dynamic Inventory Optimization and Execution platform,m empowers retailers to make smarter SKU-level decisions. It enables retailers to make real-time SKU-store-level adjustments based on real-time demand and operational constraints. This AI-driven analysis allows businesses to reduce stockouts, minimize waste due to overstocks, and accelerate sell-through by optimizing allocation, replenishment, and liquidation strategies.
By optimizing the entire inventory management cycle, Onebeat empowers businesses to sell their products at their full price and boost overall profitability. Retailers that have implemented Onebeat’s solution saw an impressive 40% increase in their net margins.
Brysk
This Indian startup has developed cashierless checkout technology for small retailers. This technology enables businesses to automate and speed up the entire checkout process. Brysk uses sensor fusion technology, computer vision, and deep learning algorithms to track consumers while they are shopping. These technologies identify the items they select and automatically generate bills. In Brysk-enabled retail stores, customers can simply walk in, pick products, and walk out with the products without traditional checkout processes.
Bigthinx
Bigthinx uses AI-driven 3D body scanning technology to create immersive shopping experiences for consumers. Their virtual avatars allow customers to try on clothes virtually before making a purchase. This reduces return rates to a large extent, thereby improving customer satisfaction and business performance. Their product addresses one of the largest challenges in the fashion industry, especially for online stores— the inability to try on products before buying. This technology helps retailers to improve customer engagement and maximize sales conversions.
Bizom
Bizom is a retail intelligence platform that focuses on digitizing and automating supply chain and distribution. It provides tools that help with sales force automation, distributor management, retail execution and predictive analytics. With the help of these tools, retailers can boost the productivity of sales teams, optimize operations around distribution and provide insights into market demand. Bizom also automates operations like order tracking and route planning and helps businesses boost efficiency and transparency across the supply chain.