Best match

Most recent

Productivity

Microsoft

Experience

Uptick in Microsoft Teams adoption among Freshservice customers helps businesses of all sizes speed up employee service management with the

https://www.bing.com/th?id=OVFT.syX0Xjkszq8DIwNP_NeYuC&pid=News

Freshworks Customers Using Microsoft Teams Increase Employee Experience and Productivity

The Korea Bizwire

Online shopping

Klarna, Afterpay and Affirm are just a few of the payment options you’ll see when you shop online. The companies offer what’s called a "buy now, pay later" payment plan that can be a smart, no-interest way to break up an expense.

https://www.bing.com/th?id=OVFT.FIa9I0bLGxofSMf1N2T9ii&pid=News

Sacramento

California

Dollars & Sense: Is the 'buy now, pay later' option when online shopping a good deal?

https://www.bing.com/th?id=ODF.-NfIX47dSWvbMeeNkF1MCA&pid=news

KXTV

Dollars & Sense: Is the 'buy now, pay later' option when online shopping a good deal

He financed a mattress through Klarna, a Ring doorbell through Affirm, and a slew of household items through other BNPL providers. “After three purchases, I was like, ‘I have a computer engineering degree and I have a team of PhDs and I can't for the ...

Keeping track of multiple BNPLs? There’s an app for that.

bankingdive

Smart

Shopping

Klarna is promoting circularity and “smart shopping” via new products and services. The company said with these updates, it continues “to evolve beyond payments to become a starting point for every purchase for 150 million consumers and 27 million ...

https://www.bing.com/th?id=OVFT.21sH_SvtSMLZ7pTGHjnG_i&pid=News

Klarna Updates App With ‘Smart Shopping’ Features

Yahoo

Future

The market for wearable payment devices is expected to be worth $137bn by 2030, whether that’s using smartwatches, bracelets or jewellery.

What’s the future of wearable payment devices?

https://www.bing.com/th?id=ODF.VDQmPjk_bmc2yoXPV3un7A&pid=news

Information Age

Pannai

Chat

I just noticed that Microsoft has added three new plugins IN THE BING CHAT PANE, Adobe express, MathSolver and Spotify: https://t.co/a13WoBYDys . https://t.co/7NP7PGiv6D pic.twitter.com/DCBzE3oWXC

Microsoft Adds 3 New Plugins To Bing Chat's Pane, Here's Who Can Access Them

https://www.bing.com/th?id=ODF.A4VFXrLFIRNrVa0JPthYgA&pid=news

IBTimes UK

Wealth management

Vega

Vega, a UK-based wealthtech platform set up by a team of former executives from leading hedge funds, private equity firms, and

Vega exits stealth with over $8 million in funding to reshape wealth management

https://www.bing.com/th?id=ODF.F7z6wtdhd7oDTw7xVIu4Rw&pid=news

PR Newswire

Microsoft quietly rolled out three new plugins to the Bing Chat's pane on Microsoft Edge: Adobe Express, MathSolver, and Spotify. This affirms the company's commitment to boosting the platform's performance and overall user experience.

https://www.bing.com/th?id=OVFT.sJuCkinRZv-9sUF4I1H0Py&pid=News

Microsoft gets generous and adds 3 new plugins to Bing Chat's pane on Edge (but only limited users have access)

https://www.bing.com/th?id=ODF.UM0amhg3WAObCEGqc4w_Cw&pid=news

Ecosystem

Telecommunication companies are also increasingly partnering up, offering entertainment deals, packages with streaming services, financial services (e.g. Orange Bank or the Beats cooperation of Proximus and Belfius in Belgium), phones and  other electronics linked to their telecommunication services.

Connecting the Dots: Navigating Tomorrow’s Services through Ecosystems

https://www.bing.com/th?id=ODF.rLnsuQdFs_2SwHd-86G7tA&pid=news

Finextra

Magnet

New Balance

ECLIPSE

Ripstop Uppers: Built for durability, ready for whatever comes your way. Toggle Rope Lacing: Quick and efficient, ideal for adjusting on the fly. Greyscale Accents: Adds a touch of depth to the dark navy finish. ABZORB SBS Cushioning: Expect top-notch ...

2002 ECLIPSE/MAGNET M2002RDO

Meadow

Get the most recent info and news about Klarna on HackerNoon, where 10k+ technologists publish stories for 4M+ monthly readers.

We make shopping smoooth. Our aim is to become the world’s favorite way to shop and bring flexible healthy financial services to consumers. Klarna was founded in Stockholm, Sweden and now has offices in Stockholm, London, New York, Berlin and many more. We offer products and services to consumers and retailers within payments, social shopping, and personal finances. Since 2005 Klarna has been on a mission to revolutionize the retail banking industry. With over 150 million global active users and 2 million transactions per day, Klarna is meeting the changing demands of consumers by saving them time and money while helping them be informed and in control of their finances. Over 450,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, and Nike have integrated Klarna's innovative technology to deliver a seamless shopping experience online and in-store. Klarna has over 6,000 employees and is active in 45 markets. If you're as excited about this as we are: join us! It’s a hell of a ride.

Klarna

Today's digital shoppers love to shop online instead of visiting a brick-and-mortar store. Daily marketing tactics make brands think of something new and strategic to beat the competition. Buy Now Pay Later is one of the marketing strategies and a convenient payment option that drives customers to buy the products. Let’s understand in detail about Buy Now, Pay Later. What does Buy Now Pay Later, or BNPL, mean? "Buy now, pay later" means you can buy something and get it right away, but you pay for it later, usually in several installments. Recent growth in buy now, pay later (BNPL) doesn't look like it will slow down. Source: eMarketer Even though this kind of payment plan has been around for a long time, it took off during the pandemic when more people started shopping online. You can now use a "buy now, pay later" plan at most significant stores, but whether you should use the BNPL method for purchasing a product as a consumer depends on your financial capacity. On the other hand, whether you should offer this method of purchase as a business owner should be determined by your business model and objective. Your purchase from BNPL is split into equal payments, the first of which is due at checkout. Your debit or credit card is charged for the rest of the costs until your purchase is paid for in full. Source When you shop online, you'll often see BNPL payment plans. There are also BNPL sites for travel and health care. How Do Buying Now and Paying Later Work? For an example of BNPL operation, let's look at Meg, a shopper who wants the best air purifier for her house and pay for it later. She looks for one online and finds the one she wants at one  site for $200. It costs more than other models that fit her budget of $125, but it has all the features she wants. The following steps show how she got to the point where she could buy the item in installments. Meg finds out that she can pay over time. On the product page for the air purifier, she sees a $200 price tag and a message that says she could pay $50 each month for four months and own the item. This 4-way split is attractive to her because she can't afford to pay $200 immediately. But it's easier to handle if you spend $50 every two weeks. The pricing information also links to a BNPL service, so she can apply to see if she is eligible. She applies by clicking the link. Then, she gives four short pieces of information (name, birthdate, phone number, and email address). Affirm, an app used for BNPL uses an underwriting technology that looks at the data and lets her know within seconds if she has been approved or not. Meg buys an air cleaner. At checkout, she chooses to Affirm as her payment method. She can see exactly how her payments will work and agrees to them. This finishes the deal. (In this case, she doesn't have to pay any interest. Other BNPL purchases may have longer terms and fixed monthly payments with interest. For these kinds of deals, you might also need to get more information.) The store gets paid right away. Generic Air doesn't have to collect Meg's payments because of the tie-up with Affirm. Meg gets the air cleaner she's been wanting. Meg gives money to Affirm. In this case, she pays her bills every two weeks, which is what she agreed to do. How does BNPL Help Business Owners? Lots of sales Customers are more likely to buy more products from stores that offer more ways to pay, like BNPL. Customer usually only buys things when they are comfortable with how to pay for them. When customers can choose how to pay, they are more likely to buy more than one product, even if it is a bit more expensive. For example, you are a Magento store owner, and you want to provide better payment options to your customer. You can consider adding the buy now, pay later option to your store. You can purchase the extension from the marketplace, or you can take help from who can develop this custom solution for you. expert Magento developers Fewer people are giving up on their carts A found that using BNPL at checkout can cut the number of carts that are left empty by 35%. Most shoppers go to their carriages to look around, but that's not always the case. These problems can be solved well by BNPL. For example, suppose shoppers abandon their carts because they couldn't find a good way to pay or because the products were too expensive. In that case, BNPL will be able to reject every reason because customers can deliver when it's convenient for them. The price of expensive products can be split up into more affordable payments. Mastercard study Increase the customer's value over time When a customer buys from an online platform that accepts BNPL payments repeatedly, the merchant has met the customer's needs. Also, returning to a platform to buy something shows that the merchant has earned the customers' trust and loyalty by giving them flexible payment terms. Customer Lifetime Value can be easily raised when customers return to the same shopping platform to buy things. Raise the average value of each order When customers order products one at a time, the total amount is higher, which is good for a business. Customers can shop more by choosing BNPL at checkout because they can make the payment later and also in installments despite having low cash at the time of purchase.  Paying overtime and not having to pay anything upfront makes it easier to buy more. Paying overtime and not having to pay anything upfront makes it easier to buy more. When customers know how BNPL can help them and shop more, the average order value increases, and merchants get more from each customer. Why Millennials and Gen Zs are jumping on the buy now pay later trend? In 2018 when apps like Affirm, Klarna, and Afterpay were still establishing themselves as the key players in the BNPL, the primary users of the payment method were Gen X and the millennials. These two groups will continue to be the driving force in the BNPL method, where last year, 40 percent of the users were millennials, and in the next four years, Gen Z will eat into the share. it was reported Millennials and Gen Z are jumping into this trend because they find it a financially flexible payment solution with a limited cash flow. It is often used for larger ticket items like clothing, fashion items, jewelry, digital leisure goods, and appliances. All of these are the most frequently purchased items by the younger cohort. Apart from the financial convenience it offers, certain other benefits that make the younger generation buy into the trend are: Items can be bought even if they don’t have credit cards; it is a perfect alternative to credit cards. Alternative To Credit Cards: The easy integration of the BNPL apps into the stores makes purchasing easy for these two generations. Often the service is integrated into the buyer’s e-wallet, giving the consumer a wider choice for purchases. E-Wallet Integration: The refunds are accessible with the method, where the money is transferred back to the wallet immediately when a payment is made when the customer cancels the purchase. Whereas in case of payment is made through net banking or debit/credit cards, the refund can happen after a couple of days. Easy Refund: The easy EMI feature offered by BNPL makes the method a hit among the millennials and Gen Z. They can repay the amount in small EMIs without interest, allowing them to buy items that would otherwise be out of their reach. Easy EMI: Moreover, Buy Now Pay Later (BNPL) is a significant change in alternative financing and payments for online shopping. The pandemic sped up this trend; it became trendy very quickly. BNPL has become a digital lifestyle solution as more merchants start to use it. The most recent report showed that e-commerce in Western Europe will grow at a CAGR of 10%, bringing the size of the market to EUR 715 billion by 2026. Why shouldn't you buy now and pay later? Buy now, pay later. Financing can give you more money to spend and help your credit score simultaneously. But each loan offer is different. The three main things that should make you not want to join the BNPL are: You might be tempted to spend more than you can afford With BNPL, you only have to pay for a portion of your purchase up front. The rest can be paid off over several months. Buy now, pay later E-commerce you can't pay for immediately makes it much more manageable. But that could lead you to spend more than you can afford. Say you want to buy something that costs $500, but you only have $50. If you can pay for it over time, you might be more likely to buy it. But in reality, if you only have $50 left over in your budget, it may be a sign that you shouldn't buy a $500 item unless you need it in an emergency (like if you're a freelance writer and that $500 item is a laptop you need to do your job). If you don't pay on time, you might have to pay fees and penalties BNPL plans are better than credit cards because they don't start charging interest right away. But if you don't make your payments on time, you might have to pay penalties and fees that make your purchases much more expensive. It could hurt your credit score You don't have a good credit score to get a BNPL plan. These services don't check your credit report as thoroughly as other loans. But if you got into your BNPL payments, your credit score could take a big hit, just like it would if you didn't make the minimum payment on your credit card when it was due. The Impact Of Buy Now Pay Later Buy Now, Pay Later sounds attractive to customers. It can also be risky for the brands to go for this. It’s advisable no matter which marketing strategy you opt to attract customers. So, make sure to plan out smartly to offer buy now and pay later to customers. In the short run, this tactic can show you a good number of product sales. For more interesting information about the latest eCommerce trends, visit our blog and stay up to date.

Buy Now, Pay Later: What is it, and Should You Offer it to the Customers?

Let's learn about via these 64 free stories. They are ordered by most time reading created on HackerNoon. Visit the to find the most read stories about any technology. Retail Technology /Learn Repo 1. How E-Commerce is Getting Smarter with Artificial Intelligence Artificial Intelligence (A.I.) is the future. 2. Startup Interview with Edris Bemanian, Engage3 CEO Engage3 will transform the way that products are bought and sold by bringing human values into pricing decisions. 3. Why Retail Stores Are More Vulnerable Than Ever to Cybercrime As more security features rely on the internet, the potential for cyber exploits increases, though this isn't the only reason retail stores are susceptible. 4. AI-Powered Predictive Merchandising is Shaping the Future of Shopping As long as consumers choose a hybrid shopping model, merchandising will keep driving sales. 5. How Retail Tech Startups are Providing E-commerce Brands With a Competitive Advantage The rapid rise of retail tech has touched almost every part of shopping; from discovery apps like Yelp to Buy now pay later brands like Klarna and Afterpay. 6. Discover How IoT is Transforming the Retail Industry IoT enables data sharing among all the devices in the network, irrespective of their medium of connectivity. 7. Automate Pricing With a Good Price Optimizer Software Setting product prices is a complex process, involving so many factors. Using good price optimization solutions helps make this task easier and more effective. 8. A Success Story for Asian Retailers Acme Inc. (Operating Department Store in Singapore) 9. How India Revolutionised its Digital Payment System UPI has revolutionised the way Indians used to look at digital payment systems. In four years, it has surpassed Visa and MasterCard. 10. Automation & Fashion on Demand: Producing as Ordered Some brands are choosing to go back in time by using a made-to-order business model. Why aren't other brands making the leap? 11. Shelf Edge Technology: Digital Price Tags Using Renewable Energy Sustainable, cost-effective, and consumer-friendly: digital price tags are entering the fashion industry through shelf-edge technology. 12. How to Build Your Own Automated Self Checkout Service Brick-n-mortar retailers, learn how to implement an AI-powered autonomous checkout from smart vending machines and kiosks to full store automation. 13. BIG ALICE is Revolutionizing Retail via 3D Full-Body Scanners BIG ALICE is a scanning studio that can provide 3D renderings and accurate measurements of any human or object. 14. A Complete Guide To SKU Management For Retailers SKU management is the process of creating, organizing, and perfecting an alphanumeric SKU system for the items in your inventory. SKUs give inventory details. 15. The Digital Shopper: 4 Retail Tech Trends That Will Stay Post-Pandemic Retailers are perfectly poised to adapt with ease as we move into a post-pandemic world, having experienced such a necessary yet dizzying acceleration in digital transformations over the past year. 16. Smart Alternatives to Sampling Campaigns in Supermarkets During COVID-19 Find out how you can replace sampling campaigns during the COVID-19 pandemic to be safe and still engage with customers. 17. How Can Enterprises Utilize Edge Computer Vision? Business applications of computer vision technology for Enterprises, retail analytics, edge computing, intrusion detection and monitoring 18. Welcome to California, Where Your Face Is Your Credit Card Whether you are craving a burger or Chinese food tonight, there is no need to reach for your wallet or phone to buy it. Food vendors in California are embracing facial recognition — technology that lets you pay with a smile. 19. Top 7 Online Certificate Courses for Retail Pros We all know how essential it is for any professional to keep upgrading their skills to stay on top of their game. I've decided to compile a list of useful online courses (both free and paid) to help you further your career if you are a pricing, brand or category manager in need of mastering the power of technology. 20. Zoey The AI: A Friend to “Corona Brides” We experienced digital transformation on an unprecedented scale in 2020. Here’s how artificial intelligence is transforming online shopping. 21. Everything You Must Know About the Business Model of Walmart: World's Largest Retail Giant Let’s learn about the business model of Walmart. How did the world's largest retailer provide Everyday Low Prices yet earn $ 572B as revenue for 2022? Read on. 22. 40% Americans Do Not Know What Affects Their Credit Score Your customers’ credit score is one of the most important numbers of their financial lives. This three-digit number is the most used credit scoring model by lenders for evaluating a borrower's creditworthiness or the likelihood that they’ll repay the money. 23. Innovative Retail Technology For Brick and Mortar Shops Find out the Top 5 Retail Technologies brick and mortar shops should adopt in 2021 and how VR, robots, and other retail tech can help them. 24. How Artificial Intelligence Can Be Beneficial in the Retail Sector A look at how artificial intelligence can be beneficial in the retail sector 25. Bricks-and-Clicks, or Why Omnichannel Is the Future of Retail In-store and online retail have always stood in passive opposition to each other, but in the first quarter of 2019 this confrontation took an especially dramatic turn. Multiple mass media outlets published articles with agitated headlines like “It's Official: "Clicks" Have Topped "Bricks" (CBS News) or “Online Shopping Overtakes a Major Part of Retail for the First Time Ever” (CNBC), which proclaimed the final surrender of bricks to clicks. 26. How AI is Changing the Retail Industry Data is the crucial information businesses need to remain profitable. AI can bridge the gap between unused data and those profits in the retail sector. 27. The Retail Evolution: Customers Demand Enhancements to the Shopping Experience Andreas Hassellof, Founder and CEO of Ombori, explores how changing customer behaviors impact retail, and drive retail technology innovation. 28. 5 Trends Changing Retail Enterprise Resource Planning in 2021 What are the main ERP trends in retail? Feel free to explore this guide to keep up with the best updates to potentially implement them into your business. 29. 8 Ways ERP Systems Can Maximize the Profits of Retail Businesses Large retailers use ERP software to make sure their operations are running smoothly. Such tools are designed to address the problems faced by retailers today. 30. The Future of Retail: The Convergence of Physical and Online Stores Explore the future of retail and the merging of physical and online shopping experiences. Discover the latest trends and technologies shaping the way we shop. 31. 4 Reasons Why Your Business Should Accept Mobile Payments In an age where our daily lives are interconnected to technological advancement, it may be time to consider using a mobile device to make payments while on the go. We live in a world operating on ease and immediate response, so it may be time to convert towards this new, innovative option. 32. Augmented Geomarketing: The Start of a New Era or Just an Evolution? Why the Augmented Geomarketing shall change the real sector and its business? 33. What Makes "Good" Fashion Image Tagging Fashion image tagging is infamously tedious for eCommerce. But, how can AI help create accurate tags--and go a step beyond in understanding fashion information? 34. Technology Should Enable Craftsmen To Go Back To Doing What They Do Best The pandemic (you know the one) has disrupted stores and restaurants in a way no one could have expected at the start of 2020. Health scare, mass unemployment, e-commerce, Amazon competition, ballooning debt… we didn’t start the fire, it was always burning… but now there are ambers everywhere and we’ve got to get to work to save the good china. 35. How Technology Is Enabling Traditional Retailers To Adapt To A New Normal Technology has advanced rapidly when you look at how far we've come in the last decade or two, even when comparing the mobile phones of 2000 versus today. It's changed the world. Something else changing the world is the COVID-19 pandemic. As we get used to our new normal, technology will play a major role. For retailers, technology will be the most important tool in their journey to survive. 36. A World without Digital Technologies But what if digital technologies never existed? What would the world be like? 37. Why the Gap Needs Kanye West Can Kanye West help the Gap dig itself out of deep hole? 38. AI in the Retail Industry: 10 Computer Vision Startups to Follow in 2021 AI-enhanced retail holds the promise to eliminate operational inefficiencies and provide shoppers with frictionless in-store experiences. 39. What Chinese Retail Trends Tell Us About the Future of E-Commerce Amazon, mobile, A.I… there are dozens of new threats, technologies and processes a strategy executive must keep in mind to stay ahead of the curve when faced with skydiving sales. 40. Geofencing Marketing: Beginners Guide Have you considered the idea of using geofencing marketing in your business strategy?  It is one of the best marketing tactics for those retailer stores businesses. Geofencing helps you reach out to potential customers in your confined area. 41. The Retail CIO’s Guide to Mobile Device Management Strategy Are you in retail and planning to make mobile part of your strategy? Do you follow a bring-your-own-device (BYOD) policy and need to separate business and personal data on the same devices? If so, mobile device management (MDM) will become an important strategic consideration for your executive team. 42. NRF 2022: Technology That's Shaping Retail These technologies are expected to become commonplace within the retail industry within a matter of time. 43. New Research Paper May Indicate That Visa is Developing a Retail Blockchain Product Cryptology ePrint Archive has published a paper, entitled ‘LucidiTEE: Policy-compliant Fair Computing at Scale’, credited to a trio of staff members working for Visa and Visa Research by the names of Rohit Sinha, Sivanarayana Gaddam, and Ranjit Kumaresan. 44. Busting Financial Myths: "The Ignorant Retail Investor" If you Google "ignorant retail traders," you'll find mentions on the Financial Times, Seeking Alpha, Wired, Berkshire Money Management, The Street, and even The South China Morning Post. 45. Amidst COVID-19 Restrictions, How Can AI Help Retailers? COVID-19 has changed the world of retail almost overnight. Its impact on e-Commerce is creating challenges to online retailing, selling & services that no one has imagined in the first quarter of 2020-21. 46. How to Get Started with Amazon IVS and Amazon Personalize in Retail This blog will walk through a detailed example of how to configure and deploy live streaming and personalization into an ecommerce site. 47. How Artificial Intelligence Is Shaping The Retail Industry With 96% of Americans shopping online and the rise of AI lead cashier-less retail stores such as one of Amazon’s 15 Go stores, Artificial Intelligence (AI) has become a key element in the digitalization of in-store retail by personalizing the customer experience and creating a more engaged business-to-consumer interaction. For retail companies, AI creates an opportunity to bridge the gap between virtual and physical sales channels. 48. Ultimate Guide to Price Matching for Retailers Price matching might sound like the ultimate pricing strategy that your business should include after you hear about price match Walmart policy. It is true that many consumers put the price as their primary factor to consider when they purchase an item whether it is online or in-store. 49. Predicting Popularity of Retail Products Using AWS SageMaker, AWS Marketplace & AWS Data Exchange This blog is aimed at guiding users to understand how they can leverage AWS SageMaker, AWS Marketplace and AWS Data Exchange to deduce smarter decisions. 50. How To Use Technology To Enhance Your In-Store Marketing Strategy Robots, AI, and other tech are transforming retail experiences. Find out what technologies best suit your in-store marketing efforts and how you can use them. 51. Innovative Solutions That Will Change The Shopping Experience How can fashion brands enter the digital world using AI? Read my new interview with a maker of a highly-innovative technology that makes it a reality. 52. 5 Ways AI is Improving Supermarkets Follow the supermarket industry trends and take your existing retail software solutions to the next level with AI 53. The New Frontier of Price Optimization What would be the price of our product or service? This question has bothered businesses forever. Several pricing models have been spawned as a result. But the concept of price optimization is a fairly new one. At least to businesses that are not in the hospitality or airline sector. 54. Use Cases and Roll-Out Tips for Image Recognition in Retail Heavily shattered by the pandemic, the retail sector is on the lookout for innovation. 55. Blockchain will Disrupt the Shopping Industry: A 2020 market overview Times have changed, and businesses either need to change with them or die. Long gone are the days of niche brick-and-mortar stores, and as Millenials and GenZ consumers start to earn more money, the e-commerce market world needs to shift as well. In order to survive, stores became brands, enticing their customers to remain loyal and shop with them even when they could find better deals elsewhere. 56. An Introduction to Livestream Shopping The concept of live shopping goes back to the 80s and builds on the idea of video shopping. 57. The Problem(s) With Amazon GO 58. How to Offer Customers an Amazing Experience In-Store Find out how to offer an amazing customer experience from four top retail experts. Read their tips and try them out yourself. 59. Improve Monetization By Optimizing In-Store Analytics and Trendspotting Over the years analytics has created an important space for itself in the retail industry where it helps to bridge the gap between what retailers have to offer and what the customers want. 60. 7 Tech Trends Reshaping the Retail Industry What is the future of retail in the post-COVID-19 world? The 2021-reality trends show how technology and innovations help retailers face challenges. 61. 13 Retail Technologies That Could Help Brick-and-Mortar Businesses Learn about key retail technology trends that can help brick-and-mortar retailers sustain their businesses. Dive into the applications of innovative retail tech 62. Virtual Fitting Room Technologies To Boost Retail Sales in a Post COVID-19 World I hate shopping in brick and mortar stores. However, my interest in virtual shopping is not limited to the buyer experience only. With the MobiDev Data Science department, I’ve gained experience in working on AI technologies for virtual fitting room development. The goal of this article is to describe how these systems work from the inside. 63. Is Shopping In-Store An Experience Of The Past? Top retail experts share their knowledge and predictions on the state of in-store marketing in 2021. Check out their views on how COVID-19 affected brick and mo 64. How the Retail Industry is Implementing Machine Learning and Deep Learning Stores are changing. We see it happening before our eyes, even if we don’t always realize it. Little by little, they are becoming just one extra step in an increasingly complex customer journey. Thanks to digitalisation and retail automation, the store is no longer an end in itself, but a mean of serving the needs of the brand at large. The quality of the experience, a feeling of belonging and recognition, the comfort of the purchase… all these parameters now matter as much as sales per square meter, and must therefore submit themselves to the optimizations prescribed by Data Science and its “intelligent algorithms” (aka artificial Intelligence in the form of machine learning and deep learning). Thank you for checking out the 64 most read stories about Retail Technology on HackerNoon. to find the most read stories about any technology. Visit the /Learn Repo

64 Stories To Learn About Retail Technology

Let's learn about via these 50 free stories. They are ordered by most time reading created on HackerNoon. Visit the to find the most read stories about any technology. Retail /Learn Repo 1. How Computer Vision is Taking Over Manufacturing and Retail AI continues to take over almost every industry ripe with data. Computer vision expands AI’s capabilities, allowing machines to not only process data, but also gather information on their own, which unlocks completely new opportunities for businesses. According to research by ABI, total shipments of computer vision sensors and cameras will reach 16.9 million by 2025. 2. Discover How IoT is Transforming the Retail Industry IoT enables data sharing among all the devices in the network, irrespective of their medium of connectivity. 3. How Retail Tech Startups are Providing E-commerce Brands With a Competitive Advantage The rapid rise of retail tech has touched almost every part of shopping; from discovery apps like Yelp to Buy now pay later brands like Klarna and Afterpay. 4. The New Frontier of Price Optimization What would be the price of our product or service? This question has bothered businesses forever. Several pricing models have been spawned as a result. But the concept of price optimization is a fairly new one. At least to businesses that are not in the hospitality or airline sector. 5. 5 Steps To Build Your Dynamic Pricing Engine With the emergence of online platforms, B2B businesses have had to reconsider their pricing strategies. But, these same technologies help the organizations create dynamic B2B pricing models that bring substantial profits if implemented correctly. For example, an integrated sales and B2B pricing software can help sales reps negotiate with customers and reduce the processing period. 6. How Can AR Furniture Apps Simplify & Boost Sales: GFG Use Case AR furniture apps have proved its tremendous impact on business. Have you heard about Houzz AR app used by more than a million users? It made customers 11 times more inclined to buy an item and spend 2.7 more time on navigating it. So how can you create a robust app like this? What problems could you solve with another AR app? 7. An Artist’s Homing Beacon to Creativity: Connecting with the Universe is The Ultimate Transcendence Join me on a roller coaster ride of lessons learned, winning Noonies 2022nfor Kubernetes, DevOps, Cheeky Genius of the Year, Retail,  & spiritual transcendence. 8. Customer Support: Is Your Team Ready for the Holidays? This year’s holiday shopping season will be different due to altered consumer behavior from COVID-19. Some things though will stay the same, like the increased pressure on your customer support team. 9. Drop Shipping Alternatives to AliExpress in the US This article will explain why AliExpress isn’t always the best option, and what other options there are if you think AliExpress isn’t for you. 10. Busting Financial Myths: "The Ignorant Retail Investor" If you Google "ignorant retail traders," you'll find mentions on the Financial Times, Seeking Alpha, Wired, Berkshire Money Management, The Street, and even The South China Morning Post. 11. A Complete Guide To SKU Management For Retailers SKU management is the process of creating, organizing, and perfecting an alphanumeric SKU system for the items in your inventory. SKUs give inventory details. 12. Million Dollar Question: Should Retail Investors Get into DeFi for Money Legos? The crypto industry offers users a spectrum of investment tools: synthetic assets, liquidity pools, index tokens, lending solutions, yield farming, hodling, etc. From among the big list, yield farming stands out the most because it promises the highest returns promised by any project. Coming from the traditional financial environment with low interest rates, beginners and small investors are drawn to the idea of quick gains, requiring just a few clicks to start making profits. 13. Bricks-and-Clicks, or Why Omnichannel Is the Future of Retail In-store and online retail have always stood in passive opposition to each other, but in the first quarter of 2019 this confrontation took an especially dramatic turn. Multiple mass media outlets published articles with agitated headlines like “It's Official: "Clicks" Have Topped "Bricks" (CBS News) or “Online Shopping Overtakes a Major Part of Retail for the First Time Ever” (CNBC), which proclaimed the final surrender of bricks to clicks. 14. AI-Powered Predictive Merchandising is Shaping the Future of Shopping As long as consumers choose a hybrid shopping model, merchandising will keep driving sales. 15. Innovative Retail Technology For Brick and Mortar Shops Find out the Top 5 Retail Technologies brick and mortar shops should adopt in 2021 and how VR, robots, and other retail tech can help them. 16. Retailers Guide To Win Holiday Sales in 2020 The holiday season is all about spreading happiness. It is also the season of big sales for retail stores. Retailers have high hopes of ending the year with big profits. But just like many other things, holiday shopping will be different in 2020. And that’s why retailers have to adjust their holiday sales strategy to achieve their year-end goals. 17. D2C 101: Why the Future of Retail is Vertical Commerce and D2C Brands For as long as humanity has existed, so has commerce in the form of sharing, bartering and selling resources. Even before currency in its most rudimentary form has come into existence in Mesopotamia in 3000BC, economies were created through bartering where people would exchange goods/services based on perceived value (Person A would want to sell Item A to Person B who finds Item A valuable in return for Item B which holds more value to Person A than it does to Person B). 18. Walmart Is Now Preparing To Take Part In the Metaverse Walmart, one of the largest retailers in the world, is getting ready to create their own NFT (Non-Fungible-Token) collection. 19. How Artificial Intelligence Can Be Beneficial in the Retail Sector A look at how artificial intelligence can be beneficial in the retail sector 20. Smart Alternatives to Sampling Campaigns in Supermarkets During COVID-19 Find out how you can replace sampling campaigns during the COVID-19 pandemic to be safe and still engage with customers. 21. 40% Americans Do Not Know What Affects Their Credit Score Your customers’ credit score is one of the most important numbers of their financial lives. This three-digit number is the most used credit scoring model by lenders for evaluating a borrower's creditworthiness or the likelihood that they’ll repay the money. 22. The Retail Evolution: Customers Demand Enhancements to the Shopping Experience Andreas Hassellof, Founder and CEO of Ombori, explores how changing customer behaviors impact retail, and drive retail technology innovation. 23. 8 Ways ERP Systems Can Maximize the Profits of Retail Businesses Large retailers use ERP software to make sure their operations are running smoothly. Such tools are designed to address the problems faced by retailers today. 24. 5 Trends Changing Retail Enterprise Resource Planning in 2021 What are the main ERP trends in retail? Feel free to explore this guide to keep up with the best updates to potentially implement them into your business. 25. How To Use Technology To Enhance Your In-Store Marketing Strategy Robots, AI, and other tech are transforming retail experiences. Find out what technologies best suit your in-store marketing efforts and how you can use them. 26. Make Money With Retail-Arbitrage-As-A-Service Using Amazon and AliExpress [A How To Guide] As I detailed in this recent article surrounding Twitter automation to buy cryptocurrency during pumps and in this way-old Hackernoon and Medium discussing how I once toyed with the morality of ethical hacking for profit – it’s obvious that I often have ideas for tech businesses that don’t really get off the ground. 27. How to Improve Sales With Real-Time Price Monitoring Flexibility in pricing is the key to beating the competition 28. A Detailed Guide on Conversion Rate Optimization in E-Commerce Improve your online sales with my comprehensive guide on Conversion Rate Optimization in E-commerce. Learn about website design, UX, A/B testing, sales funnels. 29. Cybersecurity Measures to Secure Dropshipping Automation While automation is a very important innovation in dropshipping, a lot of data is involved for an effective transaction and Hackers tamper with that data. 30. 4 Reasons Why Your Business Should Accept Mobile Payments In an age where our daily lives are interconnected to technological advancement, it may be time to consider using a mobile device to make payments while on the go. We live in a world operating on ease and immediate response, so it may be time to convert towards this new, innovative option. 31. Commerce Advertising in Ukraine: How the Ads Industry Has Changed in 30 Years The Ukrainian advertising market has been affected by different events for over 30 years. I show cool and stupid Ukrainian ads examples throughout its history 32. Why the Gap Needs Kanye West Can Kanye West help the Gap dig itself out of deep hole? 33. How Technology Is Enabling Traditional Retailers To Adapt To A New Normal Technology has advanced rapidly when you look at how far we've come in the last decade or two, even when comparing the mobile phones of 2000 versus today. It's changed the world. Something else changing the world is the COVID-19 pandemic. As we get used to our new normal, technology will play a major role. For retailers, technology will be the most important tool in their journey to survive. 34. Shelf Edge Technology: Digital Price Tags Using Renewable Energy Sustainable, cost-effective, and consumer-friendly: digital price tags are entering the fashion industry through shelf-edge technology. 35. 7 Tech Trends Reshaping the Retail Industry What is the future of retail in the post-COVID-19 world? The 2021-reality trends show how technology and innovations help retailers face challenges. 36. Innovative Solutions That Will Change The Shopping Experience How can fashion brands enter the digital world using AI? Read my new interview with a maker of a highly-innovative technology that makes it a reality. 37. How to Get Started with Amazon IVS and Amazon Personalize in Retail This blog will walk through a detailed example of how to configure and deploy live streaming and personalization into an ecommerce site. 38. How AI is Changing the Retail Industry Data is the crucial information businesses need to remain profitable. AI can bridge the gap between unused data and those profits in the retail sector. 39. What Retailers Can Do with Excessive Inventory Pile Up from the Pandemic Are retailers focusing on sustainable options to move excessive inventory? 40. The Whole Shebang of McDonald’s Business Model and Branding Strategies Let’s unravel McDonald’s Business Model and Branding Strategies. Read what makes the world's largest restaurant chain by revenue profitable & recession proof. 41. Automation & Fashion on Demand: Producing as Ordered Some brands are choosing to go back in time by using a made-to-order business model. Why aren't other brands making the leap? 42. How the Use of Machine Learning is Challenging the Retail Apocalypse Whether retailers like it or not, the future of retail is here, in the form of smart algorithms. Machine learning will change much of the industry's norms, often for the better. Retail trends point to the store of the future being automated using the latest technology. Brick & Mortar, physical retail... however you like to call it, your favourite real-world store is about to get a whole lot more digital. Whether that's the best idea remains to be seen. 43. How do Loyalty Programs [un]work? Thoughts about retail marketing transformation for the fragmented post-covid market with millions of smaller retailers and re-emerging regional manufacturers. 44. A beginner’s guide to Computer Vision in Retail Anyone with a wet finger in the air will by now have heard of the “retail apocalypse” sweeping through the developed world’s malls. “People aren’t spending in stores anymore”, your quarter-informed uncle complains, before moaning that youths are too busy Instagramming their avocado brunches to burn crosses on people’s lawns. Indeed, the old retailing models aren’t working as well as they used to. The fact that they were terrible models to start with probably had something to do with it. 45. Everything You Must Know About the Business Model of Walmart: World's Largest Retail Giant Let’s learn about the business model of Walmart. How did the world's largest retailer provide Everyday Low Prices yet earn $ 572B as revenue for 2022? Read on. 46. What Chinese Retail Trends Tell Us About the Future of E-Commerce Amazon, mobile, A.I… there are dozens of new threats, technologies and processes a strategy executive must keep in mind to stay ahead of the curve when faced with skydiving sales. 47. The Digital Shopper: 4 Retail Tech Trends That Will Stay Post-Pandemic Retailers are perfectly poised to adapt with ease as we move into a post-pandemic world, having experienced such a necessary yet dizzying acceleration in digital transformations over the past year. 48. What are the Sectors Most Prone to Cyber Threats? This article presents a rundown of the industries that have been kicked in the teeth by cybercriminals amid the pandemic. 49. Technology Should Enable Craftsmen To Go Back To Doing What They Do Best The pandemic (you know the one) has disrupted stores and restaurants in a way no one could have expected at the start of 2020. Health scare, mass unemployment, e-commerce, Amazon competition, ballooning debt… we didn’t start the fire, it was always burning… but now there are ambers everywhere and we’ve got to get to work to save the good china. 50. Is Shopping In-Store An Experience Of The Past? Top retail experts share their knowledge and predictions on the state of in-store marketing in 2021. Check out their views on how COVID-19 affected brick and mo Thank you for checking out the 50 most read stories about Retail on HackerNoon. to find the most read stories about any technology. Visit the /Learn Repo

50 Stories To Learn About Retail

is a form of online lending that allows users to buy goods or services with deferred payment. BNPL provides you with the opportunity to access the goods or services you need without having the full amount on hand and pay it off later, usually in several weeks or even months. In this article, I will elaborate on the prospects of such type of financing and the impact it can have on the entire FinTech sector. BNPL (Buy Now, Pay Later) Globalisation of BNPL solutions and their expansion into new markets Nowadays, the BNPL concept is becoming all over the world, especially in Europe, North America and India. One of the reasons BNPL is gradually conquering the FinTech sector is that both customers and merchants are able to reap the benefits of it. On the one hand, it is for people not having to pay the full amount of money at once, and, on the other hand, the majority of modern merchants see BNPL as the . increasingly popular extremely convenient perfect tool to increase their sales The COVID-19 pandemic has also had a positive impact on the online market. As the crisis has limited household incomes across the globe, the search for liquidity has increased and is expected to continue throughout 2023. The pandemic has definitely led to a new normal in online shopping, where consumers are confident in purchasing products using different online payment gateways. that the global BNPL transactions will reach almost . Last year, more than of client assets passed through BNPL services, and this figure is set to triple. It is predicted $600 billion by 2026 $214 billion The main international BNPL providers that benefit significantly from this revolutionary concept are: Paypal (US); Klarna Bank (Sweden); Laybuy Group (New Zealand); Payl8r (UK); Billie (Germany); Affirm Holdings (US); Yandex (Russia) Interaction of BNPL with other FinTech divisions Nevertheless, the BNPL concept isn’t the only thing that has blown up the FinTech market in recent years. The same can be said of cryptocurrencies - digital currencies designed to serve as a medium of exchange through a computer network. These currencies are backed by cryptography and can therefore offer the most secure transactions possible. Along with BNPL, cryptocurrencies are the most talked about trends in the modern global economy. But can these two concepts co-exist? Absolutely. When BNPL providers carry out integrations with crypto wallets, it’s a for both sides. For example, the aforementioned in 2021 and concluded a partnership with , Sweden’s leading online crypto brokerage. As a result of this fruitful cooperation, Klarna customers received much more digital options of paying for their BNPL bills, and Safello users were granted the opportunity to buy cryptocurrencies directly from the bank and with no interest. win-win situation Klarna Bank decided to enter the cryptocurrency market Safello Speaking of BNPL and further FinTech divisions, I cannot but mention e-wallets. , one of the world’s most popular digital wallets, has the whole on its website. At the moment, PayPal offers two primary types of Pay Later products - Pay in 4 and Pay Monthly, each having its own pros and cons. PayPal BNPL section I have no doubt that these integrations are only the beginning of the new wave of innovative partnerships aimed to . The implementation of crypto payment methods into BNPL technologies can be the groundwork for radical changes in the whole FinTech sector, as it will make the market more diversified than ever. blur the boundaries between BNPL and digital assets Adapting BNPL models to local specifics and legislation However, each BNPL model must be adapted to the local market in which it operates and comply with the legislation of a certain country. Let’s have a brief look at BNPL’s situation in some of the world’s leading countries: Despite the fact that BNPL models are currently thriving in the US, they have been facing inconsistent regulatory and enforcement strategies from federal and state regulators. On November 16, 2022, the U.S. Department of the Treasury, in consultation with the White House Competition Council, announced support and encouragement for the CFPB’s inquiries into BNPL providers, in a finding that the FinTech industry requires additional oversight to close gaps, prevent abuses, and protect consumers. United States. report In June 2022, the UK government issued a concerning BNPL. With this document, the government aimed to protect millions of people from being scammed by unfair BNPL providers. As such, if a BNPL provider is willing to enter the UK market, they are immediately captured by the government whether they offer their services offline or at a distance, directly or by third-party lenders. United Kingdom. response document It is widely-believed that the BNPL market has existed in Germany since the early 1970s and it still enjoys popularity. According to the German jurisdiction, the maximum credit period that a BNPL provider can offer to its customers is strictly regulated and cannot exceed 12 months. Quite recently, the German Federal Financial Supervisory Authority has issued the consumer guidance reminding that the country’s consumer protection provisions don’t apply for amounts lower than EUR 200. Simply put, the German law cannot protect people from getting scammed by unfair BNPL providers if they purchase a product that costs lower than EUR 200. Germany. Mergers and partnerships between BNPL providers In order to enter foreign markets faster and easier, or to strengthen the position in the local markets, BNPL providers sometimes merge their businesses or, if the provider is big enough, it can acquire the smaller one. In this way, , a Japanese BNPL firm, for , willing to expand its foothold in the Japanese market. At that time, Japan had the world’s third-largest e-commerce market, and the deal was obviously mutually beneficial. Paidy’s payment services allow Japanese shoppers to make purchases online, and then pay for them each month in a consolidated bill at a convenience store or via bank transfer. The company uses proprietary technology to score creditworthiness, underwrite transactions and guarantee payment to merchants. PayPal acquired Paidy $2.7 billion in cash Another deal worth mentioning is . To put you into context, Square is a digital payment platform founded by Twitter’s Jack Dorsey, and Afterpay is a major Australian BNPL provider. It cost Square to complete the deal, which turned out to be The deal was closed in 2022, and in the world have come together to create an online payment powerhouse. Square’s purchase of Afterpay $29 billion the largest buyout in Australian history. two of the fastest-growing FinTech firms Competition between BNPL and traditional banking products The competition between BNPLs and traditional banking products is becoming immensely fierce. BNPL platforms offer consumers , whereas traditional banking products, such as loans and credit cards, . more flexible payment terms and lower lending costs imply fixed interest rates and usage fees However, banking products still have - you can use a credit card to pay for literally anything, including mortgages or car loans, where BNPLs can’t provide access to such products. On top of that, during the last 6 months, a lot of banks started offering their own BNPL services to customers with a good credit history. Such financial institutions (mostly Indian) as , , , , and , have already introduced this functionality for their clients. This list is going to grow exponentially and soon be replenished with European and American banks. one big advantage HDFC Bank LazyPay OlaMoney ePayLater Kotak Mahindra Bank Overall, the competition between BNPL platforms and traditional banking products will continue and once BNPL providers will be able to offer their landing form for a wider range of products, which will inevitably happen. take a whole new turn Conclusion I firmly believe that the BNPL concept will be . There are already dozens of examples of multi-billion dollar acquisition/merger deals, where BNPL providers serve as one or even two parties involved. Many technology start-ups are developing new products based on BNPL, such as instalment payment applications. Although the BNPL concept still has something to work on, it continues to gradually evolve, and we are about to witness a plethora of innovations and breakthroughs in the nearest future. the main driving force behind the bright future of FinTech

The Future of BNPL and Its Impact on the FinTech Industry

100 Stories To Learn About Online Shopping

The shopping cart and order finalization process play a crucial role in any online store. If not properly optimized, these areas can become bottlenecks that lead to cart abandonment. Studies indicate that cart abandonment rates can reach as high as 60-70%, and even higher to around 85% [1]. There are many reasons why customers may leave a site store without ultimately making a purchase. From poor performance to bad design, errors on the site to confusing delivery costs, return policies, and deliveries. Creating online stores requires analyzing many elements, including shopping cart and order summary pages. To improve the customer experience, increase conversion rates, and maximize profits, it is essential to take specific steps and continuously monitor and optimize the online store. Remember: Collect feedback from customers regularly to identify potential issues and areas for improvement. Implement email reminders for abandoned shopping carts to win back customers and address any problems. Regularly check the functionality and performance of the online store. Ensure the online store's performance is fast and reliable. Provide Clear and Valuable Information Make sure that the rules and regulations of the online store are easily accessible and visible to customers. Consider including links to terms and conditions, return policies, and shipping rules in the top menu, footer, or alongside product information. Creating a dedicated Frequently Asked Questions ( ) section or subpage can also help address common customer queries and reduce repetitive inquiries. FAQ Remember: Create dedicated sub-pages for store rules, shipping rules, and return policies. Ensure easy access to information related to regulations, shipping rules, and returns (via links in the footer, menu, and product pages). Include a section or subpage with frequently asked questions (FAQ). Allow Easy and Quick Account Creation Creating a customer account on the online store can provide numerous benefits for both customers and store owners. However, it's crucial to simplify the account creation process to avoid discouraging potential customers. Consider allowing buyers to log in to existing accounts or create new accounts in a simple step on the order page. You can also explore the option of single sign-on (SSO) using external identity providers like or . Google Facebook Remember: Add the option for buyers to log in to existing accounts during the order process. Allow buyers to create accounts quickly and easily on the order page. Explore the possibility of implementing single sign-on (SSO). Streamline the account creation process as much as possible. Ensure Clear, Simple, and Transparent Order Finalization Order finalization should be straightforward and free from unnecessary elements that can lead to cart abandonment. Highlight the steps involved in completing the order and provide easy navigation options for customers to review and edit their information. Consider removing distracting elements like the footer and menu navigation during the finalization process. Simplify the order form by including only essential fields, eliminating duplicate information, and enabling autocomplete features. Adopting a minimalist approach and minimizing the steps required to complete the purchase can help reduce the risk of cart abandonment. Remember: Remove distracting elements from the order summary page (retain cross-selling in the shopping cart but remove it from the order summary, where it makes more sense to introduce up-sells). Include only the necessary fields in the order form. Enable autocomplete fields and provide prompts for address-related information. Provide Convenient and Secure Payment Methods Offering secure and convenient payment methods is crucial for order finalization. Ensure that your online store has an SSL certificate for secure transactions. Consider partnering with reputable payment providers relevant to your market, who offer various functionalities and integrate with popular electronic wallets like Google Pay and Apple Pay. For international payments and multiple currencies, explore options like Klarna, Stripe, or PayPal, which cater to foreign markets and support local payment methods. Remember: Provide proven and secure payment methods from reputable operators. Enable various payment methods, including payment cards, debit cards, bank transfers, and electronic wallets. Assure customers of payment security. Provide Fast, Affordable, and Convenient Shipping Methods Customers expect fast and convenient shipping, and although free shipping may not always be feasible, there are alternative strategies to consider. Set a threshold amount for free shipping on larger purchases, include shipping costs within product margins, or offer an express shipping option for customers who prioritize speedy delivery. Additionally, provide a wide range of delivery options, including courier services and pick-up points, to accommodate customer preferences. Remember: If possible, offer a free shipping option for orders above a certain amount. Provide an express shipping method for customers who require faster delivery. Offer a variety of delivery options, including pick-up points. Ensure Everything Works Regular maintenance and monitoring are crucial for the smooth operation of an online store. Update the store's software regularly, but remember to create backups before making any changes. Proactively check for unexpected errors and ensure that everything is working flawlessly. Continuously analyze data and make thoughtful improvements based on customer feedback and performance metrics. While there are no one-size-fits-all solutions for complex systems like online stores, starting with simple and quick implementation suggestions can yield positive results. Remember that continuous and thoughtful improvement, based on collected data, is the foundation for enhancing the online store's performance. Source: [1] Baymard Institute, 48 Cart Abandonment Rate Statistics 2023 (Accessed: 29 June 2023)

Online Checkout Process Optimization: Tips for Better Conversions

As with most of the tech sector, startups in Europe have been adjusting to a in startup funding this year. In European venture deal value fell 32.1% quarter-over-quarter, with overall funding from $83 billion USD in 2022 to $51 billion USD in 2023. steep fall Q1 2023 expected to decline While the trend of investor pullback is certainly not limited to Europe, founders in the region are being urged to apply a more conservative approach and readjust growth strategies that were built during the boom year of 2021. With mega funding rounds and generous valuations off the table in 2023, many of Europe’s startups are making cuts, as demonstrated by Klarna’s plans to . But it’s important to note that the Swedish fintech is valued at $46 billion. Larger, more established startups can make cuts and readjust balance sheets during the current down period more easily, but these types of actions don’t stack up for startups across the board. downsize its global workforce by 10% Early-stage very often rely on the outputs of a small, dedicated team meaning any job cuts will have a significant impact on company operations. Equally, scaling back expansion plans too drastically could see young companies fail before they have a chance to get off the ground. In these cases, access to immediate funding can be a lifeline that ensures the company stays on track. startups With venture capital in short supply and high demand, what other funding options can founders look to? A new way to measure collateral Raising will always be a go-to choice for startups, but even during boom years the process takes many long months to complete and requires significant time and energy. For access to immediate capital in between funding rounds, short-term loans are often the defacto choice. venture capital For loans in general, lenders use various parameters while underwriting the risk associated with lending to a borrower, such as repayment history, total debt owed, debt-to-equity ratio, and market standing. Yet startups may not always have the track record needed to access loans with favorable rates. In addition, those providing software or cloud solutions may find lenders undervalue the company when making an assessment. This is because one of their most valuable assets – data – is most often classed as intangible and therefore not included as collateral that the startup can borrow against. Using data and intellectual property (IP) as collateral is possible, however. The approach was used by a number of to sustain operations during the COVID-19 pandemic. However, this is historically something only large multinationals can afford to consider, given the astronomical costs and long lead teams associated with an independent data valuation. major airline carriers Yet founders of smaller startups are increasingly finding more opportunities to access data-backed loans. is an emerging “neo-lender” that is helping to make data a standard asset class across the board for startups. The company uses machine learning to perform data valuation in a matter of hours, instead of weeks and months, and has recently opened a new to underwrite loans directly. Gulp Data $10 million fund By making it easier to leverage data as collateral, founders can potentially unlock additional value and free up capital between funding rounds. Startups financing startups The idea of using data to help founders access immediate capital has also been taking root in Latin America where funding is even more constrained. Here a has emerged in response to widespread investor pullback. Building on the back of standout success stories like Colombian delivery app Rappi, founders in the region have been steadily re-investing their own capital to help new startups emerge. new breed of startup lenders The leaders of the movement see the inherent value of data that startups and small companies can’t leverage when it comes to financing and the difficulties that arise when traditional venture capital is hard to access. e-commerce Given that startup ecosystems worldwide face a very similar set of challenges, this trend could soon become commonplace in other regions. More government support for deep tech Historically, deep tech startups in Europe and access high enough rates of capital. As a result, many promising companies look to US markets in the long run. struggle to scale To stop this loss of talent, Germany has launched a fund of up to €1 billion to invest in deep tech and climate tech, and the United Kingdom has pledged £2.5 billion for quantum technologies. While the sector will still need to ensure private capital support grows, the government funds will help to bridge some of the gap in the meantime. A way to look at startup funding Building a business during an economic downturn may be tough, but it certainly isn’t impossible. As investor activity remains in a lull, new models and approaches are being created by those on the ground who understand the needs of young startups the most keenly. With access to more financing options and capital outside of the venture sphere, startups have a better chance of keeping operations afloat and extending their runway between funding rounds. This article was originally published by on . Katie Konyn 150sec

Klarna

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7501 employees

Since 2005

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Klarna

Klarna

klarna.com

7501 employees

Since 2005

COMPANY RANKING

Klarna

EVERGREEN INDEX #15

Related CompaniesRank

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