The retail industry continues to be a hotbed of innovation with activities driven by desires for convenience and growing importance of technologies such as AR & VR. Disruptive technology has been the new wave of technologies that will make our lives better. With AR & VR consumers will be able to interact with their products through the comfort of their home.
Disruptive innovation in retail allows companies to improve their core operations and focus on long-term priorities. Advanced technologies such as 3D printing, virtual and augmented reality, and robotics are emerging and giving retailers new ways to engage customers and to run their business more effectively, while their costs continue to decrease. Advance technologies also helping retail businesses from bridging the gap between online & offline shopping experiences to robots & automation in retail.
As AR & VR innovations are becoming widespread, the retail industry is one of the pioneers in exploring and applying this technology to stay ahead and updated, grow their business and create new channels for communication with customers.
As technology evolves, there are many new niches waiting to be monetized and opportunities to take advantage of.
So here are Top 5 startups in India creating a disruptive innovation in the virtual retail industry
Flipspaces : Established in 2015, Flipspaces is the first tech-enabled brand which offers a full stack solution for design and build of commercial spaces. It is also the largest global supply chain platform for interior products and services backed by its strong technology and industry acumen. Flipspaces SaaS driven product Vizstore is a virtual store which allows interior product owners to digitize the product display, visualization and selection experience aided by virtual reality technology. Embracing its cutting edge technology specially created for furniture and furnishing retail stores, it helps boost the sales by 30% while reducing store rent to mere 3 paise per sqft.
Urban Ladder: Urban Ladder commenced operations in 2012 with a vision – to make a million homes beautiful. They had a mission to enable their audience to think of setting up a space as an energizing, creative pursuit and to help to breathe life into empty rooms with ideas.
Pepperfry: Pepperfry since 2011 brings to you stylish and quality furniture with attractive EMI options. From electrical appliances to wall arts, Pepperfry grants everything you need to make your apartment a home and your home your dream one.
Furlenco: In 2011, Furlenco was born to give everyone access to awesome furniture without any hassles. Plus, the complete freedom to use it for as long as they want or change it as per their needs.
Rentomojo: It is an online furniture rental platform that was incorporated in November 2014, and currently operates in Bangalore, Pune, Mumbai, Hyderabad.