India’s e-commerce industry continues to grow with a direct impact on micro and small and medium-sized enterprises (MSMEs) and is projected to become the world’s second-largest e-commerce market by 2034. Technology-enabled innovations such as digital payments, hyperlocal logistics, analytics-driven customer engagement, and digital advertising are believed to support the growth of this sector.
The e-retail market is expected to continue the strong growth – it registered a CAGR of over 35% to reach Rs. 1.8 trillion (US$ 25.75 billion) in FY20. Over the next five years, the Indian e-retail industry is projected to exceed ~300-350 million shoppers, propelling the online Gross Merchandise Value (GMV) to US$ 100-120 billion by 2025.
Therefore, the Economic & Trade Mission in association with the Israel Export Institute מכון היצוא concluded the virtual ‘E-Commerce Roadshow’ successfully on 12 April 2022. The event focused on e-commerce in India and the relevant technology to boost the efficiency of this growing industry.
The presentation was made by various Israeli tech companies during the event. They all showcased how the innovative technologies can be used for improved efficacy. The participants included: –
- Anagog: Mobile Engagement Platform
Anagog’s mobile engagement platform operates from within mobile phones rather than the cloud. The platform ensures that apps can provide hyper-personalized engagement using a wide range of first-party data, while keeping that data on the device to ensure consumers’ privacy.
The company’s AI edge technology embedded within the platform enables it to deliver artificial intelligence in a small footprint. Placing all that intelligence on mobile phones means that companies no longer have to collect personal data or use tracking mechanisms such as cookies or unique IDs to offer customers perfectly targeted and timed engagement. Anagog has 25 patents and is backed by investors such as Mercedes, Porsche, Skoda, Sumitomo, and Continental.
- Hexa: Converting Existing Imagery and Information into Immersive Content
Hexa is of one of the world’s fastest growing visualization platforms. Using its proprietary technology platform and 3D database, the company helps retailers and brands convert their existing images and product information into immersive content (3D/AR/VR).
Customers including Macy’s, Google, Logitech, and others use Hexa to lower visualization costs, increase sales metrics, improve customer acquisition costs, and distribute their content globally.
- Namogoo: Digital Journey Continuity Platform
Namogoo is a digital journey continuity platform that enables online brands to drive their customer journeys forward and clear the path to purchase. Namogoo’s platform autonomously adapts to each customer visit in real time, keeping the journey flowing to its destination.
Namogoo’s Customer Hijacking Prevention identifies and blocks unauthorized ad injections from diverting online shoppers to competitors, immediately lifting conversion rates and revenue.
Namogoo’s Intent-Based Promotions predicts and individualizes the most effective minimum promotion for each visit, saving eCommerce retailers’ margins and strengthening brand equity.
Over 150 global brands trust Namogoo to keep their digital journeys hesitation-free and their business on the path to growth. Namogoo has been ranked by Dun & Bradstreet as one of the top three Israeli start-ups to work for in 2019 and 2020.
- Pickey: Smart Wristband for Optimizing Manual Picking
Pickey is the developer of Hand Vision, a smart wristband designed to revolutionize manual picking in logistics centers and groceries.
Supported by artificial intelligence and computer vision, Hand Vision is designed to be used by pickers for more efficient and error-free item-picking as well as for self-checkout applications. The Hand Vision wristband can identify both the picked item and the picker’s gestures in order to eliminate inaccuracies occurring in the picking session.
- RFKeeper: RFID Solutions for Retail Stores and Warehouses
RFKeeper provides supply chain management and loss prevention solutions. The company’s technology seeks to improve retail inventory accuracy, reduce shoplifting, enable targeted marketing, and increase shopper loyalty.
A variety of RFID tags are available to secure apparel, eyewear, watches, and jewelry. The solution can be deployed within hours and requires minimal training or changes to current store processes. In addition, RFKeeper provides hardware and software specifically designed to streamline operations at stores and warehouses.
RFKeeper solutions have already been deployed at several retail chains.
- SpeedSize: AI-based Media Compression
SpeedSize is an AI-based media-compression technology that can auto-detect and compress all of a website’s images and videos down to 99% of their original size without lowering the image quality. With SpeedSize, users can make their sites load faster and improve their search engine optimization.
To know more about E-Commerce industry in Israel, please feel free to reach out to Ashish Verma – Senior Trade Officer – Economic and Trade Mission (New Delhi).
Leave A Comment