The retail business is dominated by smaller family-run or regionally-targeted stores, but this market is increasingly being taken over by billion-dollar multinational conglomerates like Walmart and Amazon.
"In an increasingly Amazon/Walmart dominated landscape, retail is becoming increasingly difficult for the small and mid-sized players," Gunner Technology COO, Kylie Ware, said. "The trick is integration and taking advantage of once cost-prohibitive technologies."
For example, Ware said, why try to compete against Amazon? Why not take advantage of them as the world's largest retailer and sell your product from their platform.
"It used to be getting in a big box retailer was hard," Gunner CEO, Cody Swann, said. "That was the sign you made it because shelf space was so limited. But now, with the right tools, retailers can seamlessly publish their products to Amazon, Walmart and more without any additional overhead."
A good strategy is to price your products on third-parties such as Amazon, Walmart, PinteREST and Wanelo at a premium.
"That way, when someone serendipitously sees something they want, maybe they buy it on the spot or maybe they price shop and come across your online store," Swann said. "Either way, you win."
Brick and mortars can leverage similar strategies as well and take advantage of geolocation data and real-time data to increase their value.
"If someone is at a restaurant near one of your clothing stores and it starts raining, you should be delivering ads to that person for an umbrella or rain coat or something," Swann said. "In this day and age, it all comes down to data."
That data can tell retailers a lot about their customers and potential customers.
This data along with automation can be the difference between sucess and failure.
"Look, no one has time for anything in retail, so tons of data without automated action is worthless," Swann said. "If you're going to win in retail, you need intelligent automation."