Top 10 Best Retail Tech Companies To Watch In 2022
Scala, a STRATACACHE company, partners with brands across many industries to help transform their customer experience with smart marketing technology and digital signage. Scala provides the platform to easily create and centrally manage deployment of digital experiences, while retaining the flexibility to adapt to local business conditions and audience preferences in real time. With 30 years’ experience, Scala is well-known for its innovation and leveraging best-of-breed technologies to create easy-to-use, flexible, and infinitely customizable solutions. Matching the vision with the strategy, experience, and delivery capability to make the digital signage project a success, Scala offers innovative retail solutions and empowers brands to create a frictionless in-store visit. With its global headquarters in Malvern, Philadelphia, Scala has 28 offices across the globe. Its worldwide network of partners and developers spanning more than 100 countries drives over 3.1 million digital screens globally. With retail driving the most growth in numerous countries, there has been a huge evolution in the global retail industry. New technologies, digital transformation, changing consumer preferences, and borderless competition from eCommerce have revolutionized the retail industry. "Shopping is no longer confined to brick-and-mortar stores and the growth of 'O2O (online-to-offline) commerce' and omnichannel marketing present immense opportunities for retailers," says Manish Kumar, Managing Director – APAC at Scala The other companies in the STRATACACHE family comprise pioneers in the digital signage industry and are trendsetters in marketing technology and digital innovation. Scala strives to help customers convert or better serve them in wide-ranging industries, including retail. The idea is to create intelligent visual and audience engagement solutions found on 3.1 million digital displays worldwide. The retail industry during the pre-pandemic era had started using tech, but post-pandemic technology has become the heart of the entire industry's future. While the entire retail market is growing, Asia Pacific (APAC) is seeing an accelerated pace of growth. APAC accounts for the largest retail market in the world. The retail industry in the APAC region is largely driven by – ● Robust economic growth and changing consumer trends ● Rising purchasing power ● Entry of international retail chains ● Population growth Retailers' top priorities in the current times would be to maximize online and offline shopping experiences to complement each other. Phygital retail, a portmanteau of words physical and digital, is a smart blend of e-commerce and the unique aspects of in-store shopping. It is an emerging approach driven toward digitally reinventing the in-store experience. As retailers seek innovative ways to serve the changing customers' needs and optimize their time in the store, phygital retail will likely dominate the industry. Data on customers' traffic and where they are in the store will be useful to improve the products' shelving. These analytics will also help business owners make better decisions on pathing and merchandising strategies. This data could be a valuable bargaining chip when negotiating with vendors on how much they should pay to have their product included in a particularly high-traffic store area. Advanced technologies such as 'Buy online pick-up in-store (BOPIS)' provide added convenience for customers and will likely be more prevalent across retail chains. The current trend in retail is omnichannel marketing. It helps brands build a presence across various online and offline channels. It also ensures a seamless experience throughout the customer journey. Research shows that almost six in 10 consumers prefer to shop in-store with a retailer that uses technology to make the experience more fun and engaging. Omnichannel marketing is essential because it helps brands create a positive experience for the customer and drive a brand's positive reputation. Like an advanced point-of-sale system, the technology sends email shopping carts for unsure shoppers to complete their purchases at home. Elaborating on the statement, 'Complete Digital Signage Solutions,' Manish Kumar said, "Scala offers scalable customer experiences empowering retailers to learn deeply about their customers' shopping preferences and behaviors, allowing for personalized shopper interaction. Some experiential retail solutions include – real-time engagement and operations dashboard; personalization at scale; Lift and Learn, and automation amid others." Scala has played a critical role in many retail brands’ digital transformation journeys. For example, one of the leading retailers in Singapore has deployed Scala's Lift & Learn the solution to enhance the shopping experience. Lifting a product triggers product information to be displayed on a screen, allowing customers to learn more about the product and facilitating product comparison. Scala's marketing technology stack and proven digital signage software platform allow stakeholders to tailor their digital signage communications. The flexible and scalable platform of Scala allows a customized digital experience. The future is bright for the company, with numerous products being rolled out and a new APAC headquarters in the heart of Singapore's CBD. This headquarters also houses an Experience Centre where customers can get a first-hand view of the company's digital signage solutions. Scala will continue to revolutionize digital transformation and drive growth by enhancing our solution offering, strengthening our brand presence, increasing sales and expanding strategic partnerships. Scala will also be focusing on key growth markets like India, Japan and SEA, and setting up more offices in major cities. In addition, Scala is currently building a new MicroLED factory in Eugene Oregon to make next generation displays for retail experiences including curved, transparent and ultra-low power interactive display devices. This new MicroLED capability allows Scala to break the Chinese/Korean display cartel and create products designed for our MarTech missions. In the future, Scala envisions building a MicroLED factory in India as well to enable the growth of high-performance displays for use across dozens of industry segments emerging in the Indian marketplace.