Inventory management, frictionless checkout, computer vision
Grocery store technology hasn’t changed much in decades, so when the pandemic hit, it served as a wake-up call to the industry, highlighting its drawbacks, especially concerning e-commerce. Grocery stores that don’t adapt will most likely lose out on market share.
The good news for the grocery industry is that technology advancements in recent years, particularly in the area of computer vision, are giving startups a shot at providing grocery stores with e-commerce-like features in a brick-and-mortar setting.
And venture capital is here for it. Investors say computer vision, along with frictionless checkout and inventory management tools, are revolutionizing the grocery industry and will eventually impact the larger future of retail.
Bagging capital and expanding footprints
Grocery tech is attracting VC activity for a few reasons: For one, grocery retail is such a large market — a $1 trillion industry that is poised to grow 3% each year for the
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