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The biggest problem facing retail startups

Despite the fact that there is a new business started every hour, 65% of which are retail and entertainment focused, 95% of these businesses would have failed in their first year. Having worked with hundreds of big and small businesses, we identified the key problems smaller businesses have, what the big businesses do so well and how these start-ups can do this to become more successful.

The SPITEFUL problem

We broke down the biggest problems into 5. We call it the SPITEFUL problem or why consumers are SPITEFUL to small businesses.

Below are the problems and how we are using the combination of our AI – ASH to power multiple pop up shops thereby creating an online and offline marketplace that bring vendors and consumers closer together.

Spaces

Problem – High business rates, high rent, limitation in affordability, for those who have shop spaces, they are stuck in one place mostly obscure, the cost of scaling is too high and profitability is limited due to these problems.

Our solution – Feature brands and products in Multiple pop up shops simultaneously to get in proximity to consumers in real world, combine online and offline marketplace for click and collect, reservations online, payments online and in-store etc. Spaces act as fulfilment centres.

Payments

Problem – consumers prefer having the choice of payment, with smaller vendors they rarely have a choice with surcharges, high transaction fees, trust for vendor, fear of fulfilment – returns and refunds make it harder for consumers to buy from small vendors.

Our Solution – a connected online and offline Point of sale – even in multiple pop up shops – that allows for click and collect, pay with app in store, syncs their cash payment, recognises online users in-store and vice versa.

Online and offline POS

Recognise consumers online and in-store to reinforce brand loyalty. Aid click and collect.

Inventory

Centralised inventory so retailers know where every product is and easy scale globally.

Technology

AI for personalised online and in-store (multiple pop up shops) product recommendation to consumers.

Fulfilment

Pop up shops act as fulfilment centres – click and collect, reservation to collect in store, place for engaging with brands, ask questions, returns, refunds etc.