The Discovery 50 report, published today by RWRC, showcases the world’s top tech start-ups and shines a light on innovative solutions that can support the retail sector – both during the pandemic and in the future.
April 28, 2020 London, UK: Engagement Agents has been crowned one of the top 50 retail tech start-ups operating globally, according to a new report published today by RWRC – home of Retail Week and World Retail Congress.
Retailers worldwide are scrutinizing their business models more closely than ever, as they grapple with the impact of the coronavirus crisis and seek to deliver sales and maintain relevance among consumers.
There is a growing realization in boardrooms that collaboration with start-ups and third parties is crucial to achieve these aims and to better position businesses within the new post-Covid-19 world of commerce.
Profiling the top 50 global retail tech start-ups, the Discovery 50 report analyses the influential role start-ups including Engagement Agents play in this new world.
“We are honoured to be one of two North American companies, and the only Canadian company in the top 50.” says Sean Snyder, President of Engagement Agents. “This was made possible thanks to our dedicated team and our loyal customers!”
Start-ups were judged and shortlisted by a panel of retail and business experts including retail consultant Ian Shephard, retail analyst Natalie Berg, former Morrisons CTO Anna Barsby, Co:Cubed chief executive Jeremy Basset, Retail Week head of insight Lisa Byfield-Green and more.
The Discovery 50 all started trading in the last seven years and have worked with a breadth of retailers and brands to help transform their businesses, either through a pilot or full-scale solution.
“Every retailer is paying significantly for marketing within their leases, but a whopping 90% are not taking advantage of the benefits of these investments. Now is the time for retailers to innovate, optimize their leases, become more efficient and, more importantly drive traffic and sales whether it be in-store or online” says Snyder. “We are working with our existing retail partners and onboarding new retail partners ahead of their ‘grand re-openings’ to ensure they maximize all the opportunities available!”
The report also offers advice on how leaders can open themselves up to new and different ways of thinking and the benefits this can have on the bottom line.
For instance, a 2018 report from professional services company Accenture found only 6% of corporate businesses were generating a significant proportion of their income from new activities and investments. However, this same 6% reported the strongest financial performance of all 1,440 companies Accenture surveyed.
Retail Week commercial content editor Megan Dunsby commented: “The Discovery 50 shows how start-ups, such as Engagement Agents, can offer a lifeline for retailers.
“Now is the time for businesses to think about how they could work differently with the start-up community and build synergies; from creating a fast-track, light-touch process for forming contractual relationships to pre-allocating some funding that can be used for trials.
“Many start-ups in the Discovery 50 have implemented pilots within weeks of starting conversations with a retailer, while others have been able to integrate full-scale solutions in a matter of months that have delivered major return on investment.
“Retailers should look to the Discovery 50 as a directory of the best start-ups to work with.”
About Engagement Agents
A number of the world’s most recognizable retailers rely on Engagement Agents. Engagement Agents is an award-winning platform which helps retailers optimize their leases, drive traffic & sales, enjoy savings and ensure compliance by making it easy to engage their already-paid-for and under-utilized shopping centers’ marketing channels which every retailer pays significantly for via their leases.