Euroshop 2020 : French start-ups revolutionising global tech retail
A French delegation of 30+ Retail Tech companies will be at Euroshop 2020 to showcase how they are modernising the retail industry as we know it to bring about positive change for businesses.
- (1888PressRelease) January 31, 2020 - In July this year the proportion of all UK shops that are empty reached 10.3%, its highest level since January 2015 according to the BBC. Yet despite the struggles faced by the high street, retail tech is booming & contrary to popular belief, it could be key to saving the high street. From France’s vibrant tech scene, key global players in retail tech are emerging.
French Retail Tech at Euroshop 2020
The importance of retail tech to the survival of both high street and online retailers is undeniable. What’s more, embracing retail tech could be key to seeing bigger profits. According to a PwC report, when customers have a great experience, they’re willing to pay up to a 16% price premium. At Euroshop 2020 in Dusseldorf, the latest and most exciting retail tech will be on display, including Gempsy, Bryanthings, Wynd & Bystamp on the French Pavilion alongside 26 other French retail tech start-ups accompanied by Business France.
French retail tech start-ups at the fore
In the first half of 2019 French retail tech start-ups raised impressive funding across the board. Some of the most notable cases include: ManoMano, Europe’s leading online DIY and gardening retailer, which raised €110 million; omnichannel platform Wynd which raised €72 million; and marketplaces solutions provider Mirakl which raised €62 million. As the struggles of the retail industry continue to grow, the role of retail tech emerges. In 2018, 146 French start-ups specialising in Retail Tech raised €803 million, 40% more than in 2017. The average amount raised by companies is €5.5 million, up nearly 50%. (Spring Invest; LSA, 2019).
Retail tech: a friend to the high street
According to a study by Edelman, 80% of consumers surveyed are more likely to purchase from a company that offers personalized experiences. Bryanthings is a Parisian Start-up designing digital POS retail solutions for global and luxury brands: in-store personalisation, ribbon printers, engravers, product printers, vending & gift machines. By creating a meaningful link between digital life and the real world, they help stores add value to their square metres. Their clients include a range of brands under L’Oréal, LVMH & PUIG, among others.
Digital trends building customer loyalty
A seamless shopping experience is key to a retailer’s success, whether online or in store. French retail tech start-ups have capitalised on the importance of this. Gempsy offers instore digital solutions in the form of their eOnline Digital Kiosk, a multimedia tablet with a multitude of customisable features: self-check-out, sales assistance, customer satisfaction, price & product information, click & collect, advertising & loyalty programmes.
Loyalty & discounts continue to play key roles in consumer choices and represent yet another part of the retail sector being revolutionised by tech start-ups. A recent study by Inmar shows that 53% of consumers want all coupons to be digital, which is entirely possible thanks to French start-up, Bystamp, whose product, KEYMO is the world’s first electronic stamp that allows an digital authentication and signature during any face-to-face transaction. It is adapted to digital loyalty cards, it’s easy to use and 100% secure.
To meet innovative French companies with expertise ranging from payments, to marketing, e-commerce, connected stores, technologies that reduce waste and prioritise short circuits, visit Hall 11 ‘Shopfitting’ and hall 7A ‘Retail Technology’ at Euroshop in Dusseldörf from the 16th to 20th February 2020.
For more information about the French delegation at Euroshop, please see the catalogue or contact catherine.ryall ( @ ) businessfrance dot fr.
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