Retail Reinvented: Navigating AI, Next-Gen Commerce, and Startup Strategies

There is continued interest in AI and next-gen commerce in the retail industry, with startups in these areas still receiving funding.Startups face challenges in getting traction and convincing retailers to do trials and proof of concepts.Retailers are looking for data-driven insights and actionable insights that they can generate themselves.Returns are a significant issue in e-commerce, and reducing returns is a priority for retailers.Regulation is driving innovation in specific sectors and geographies.Startups should focus on the problem they are solving and make their messaging simple and clear.Instead of doing proof of concepts, startups can offer intro pricing or guarantees to make it easier for retailers to say yes.The relationship between startups and corporates is evolving, with corporates seeking innovation and startups needing to be flexible in their approach.Simplicity and storytelling are important in telling the startup's story and getting recognized in the market.Startups should adopt a test and learn mentality and be open to trying different sales and marketing approaches.