Physical stores play a pivotal role in retailers’ omnichannel evolution. This Tech Market Map takes a deep dive into companies that are helping retailers like Walmart and Sephora optimize their operations, engage their customers, and ultimately drive sales.
In an age of digital transformation, retailers are focusing on their brick and mortar foundations.
For instance, Walmart spent $3.3B on store remodels last year, 52% more than what it spent in 2018. This year, the retailer is on pace to spend nearly 20% more than it did in 2021.
The revenue retailers generate through their stores is crucial as e-commerce, which is largely unprofitable, continues to account for a larger share of sales. To that end, retailers like Walmart, Carrefour, H&M, and Sephora are deploying technology to digitize store operations and enhance the customer experience.
Using CB Insights data, we identified 160 store digitization and automation tech companies addressing 13 technology priorities for brands and retailers, from digital shelf displays to robotic fulfillment.