The Innovation Lab provides innovative retail technology up-and-comers with a dedicated space for showcasing the latest applications in artificial intelligence, augmented reality, machine learning, facial recognition, robotics, and more.
At Sophelle, we’re so excited about many of these featured companies that our Practice Leaders are offering exclusive personal tours of the Innovation Lab. Our retail strategy experts will leverage their dedicated experience in each subject area to provide curated experiences for interested NRF attendees.
In preparation for NRF, we’re kicking off a series of blogs highlighting some of the most innovative retail technology companies this year’s Innovation Lab has to offer.
Pockyt, A Leading Alternative Payment Platform
Leading alternative payment platform Pockyt, formerly Yuansfer, was founded in 2017. Its goal is to help businesses reach consumers they might not be able to connect with otherwise, facilitating a more comfortable transaction experience.
Through a single integration to a retailer’s existing payment infrastructure, the platform integrates all major global wallets, such as Alipay, WeChat Pay, KakaoPay, and Venmo, to streamline the checkout process, increase conversion, and reach new customers.
As Alipay’s strategic partner, Pockyt provides Alipay-funded marketing and promotions to drive traffic to retailers’ ecommerce sites and stores.
We’re thrilled to see Pockyt offering a solution that many retailers need to create a more compelling customer experience. Buy Online Return In Store (BORIS) is one major source of friction that Pockyt’s innovative platform helps resolve.
Many retailers’ BORIS policies offer consumers a merchandise credit if they return items in-store after purchasing them online via platforms like PayPal. However, these policies aren’t as enticing to consumers as receiving an actual refund. Retailers that implement Pockyt can conduct a contactless, QR-code-based return in-store for purchases made through any platform, thereby enabling frictionless omnichannel commerce.
Quorso: A New Era for Store Management
Quorso provides stores a better way to operate than traditional mechanisms that are clunky and inefficient.
The platform simplifies retail store data into 3 top priority actions (Quorso ‘Missions’) in a streamlined, engaging process that encourages action, measures impact, and scales across an organization.
Quorso’s user experience is getting rave reviews, and its functionality allows retail executives to steer their companies by providing insight into the precise actions that drive improvement. Area Managers coach and motivate every team member, and Store Managers focus on achieving the best outcomes in their locations.
There’s no shortage of store management solutions on the market, but we love Quorso because it offers a unique, data-driven approach to store management. The platform makes it possible to analyze data that was previously nearly impossible to evaluate and measures effectiveness based on results instead of compliance.
We’re excited by the opportunities Pockyt and Quorso present for advancements in agility, innovation, and retail technology. Stay tuned for the next part of this series, highlighting several more companies that will be featured in NRF’s Innovation Lab.
If you’re interested in a curated tour of the Innovation Lab with one of our Practice Leaders, contact us today.
Check out our other Innovation Lab post here.