Shoptalk 2018

Shoptalk is billed as the world’s largest conference devoted to retail and e-commerce innovation. Conference organizers expect more than 7,500 attendees at the event this year, which runs March 18–21 in Las Vegas.Coresight  Research is again partnering with Shoptalk to host the conference’s annual startup pitch competition. On March 20, Coresight Research CEO and Founder Deborah Weinswig will also participate in a Shoptalk session entitled “Overview of Retail and Ecommerce Innovation in China.” Zia Daniell Wigder, Chief Global Content Officer of Shoptalk, will interview Weinswig and Hans Tung, Managing Partner of GGV Capital, on topics that include technology and business model advancements in areas such as checkout, payments, delivery, logistics, the IoT and robotics.

Startup Competition

On March 18, Weinswigwill emcee a startup pitch competition between 15 early-stage companies. Each company will present its business to a panel of judges from the investment community and to the audience. Two winners will be announced, one chosen by the panel of judges and one by audience vote, and each winner will be awarded $25,000. Shoptalk curated the participating startups based on their solutions to some of the most pressing challenges facing retailers today. As we highlight in our 18 Retail Trends for ’18: Preparing for Another Year of Change report, the retail industry continues to undergo transformation, characterized by five key factors that are either driven by or affecting consumers and retailers:

1. Consumers continue to switch from conventional retail formats to new, alternative formats and channels.
2. Shoppers value life-improving services from retailers and technology providers.
3. Brands, retailers and technology firms are offering new types of interactions, rewards and experiences.
4. Industry changes are compelling closer collaboration among retailers, technology giants (including Amazon), logistics technology vendors and social media influencers.
5. Retailers are leveraging technologies as diverse as blockchain and 3D printing to make their supply chains smarter and fitter in an increasingly competitive market.

In response to these trends and opportunities, retailers in all channels are changing to accommodate shoppers’ shifting preferences. Below, we profile Glass-Media, one of the companies participating in the startup pitch competition at Shoptalk 2018.

Glass-Media

Company Description

Glass-Media provides brick-and-mortar retailers and brands a projection-based digital display technology coupled with a proprietary, cloud-enabled software and analytics platform. The solution transforms storefront, street-facing glass and indoor surfaces into vivid, interactive displays. With the display technology, information is provided in a digitized format that includes motion and pictures in order to attract customers with more impact than traditional modes provide. Unlike legacy digital storefront signage—which tends to focus on a qualitative approach—Glass-Media’s solution is largely focused on a quantitative approach to digital transformation. The interactive display can capture engagement data that can be used in real-time marketing campaigns at the point of sale. By integrating Glass-Media’s solutions with brand-specific key performance indicators, retailers can:

1. Boost foot traffic.
2. Enhance the customer experience.
3. Build brand awareness.
4. Increase customer engagement.
5. Drive online/offline conversion.

The company’s targets include mall-based retailers, pop-up retail formats, hospitality services, convenience stores and fast-casual retailers.

Market Overview

Market research and consulting firm Grand View Research estimated that the global digital signage market was worth $16.04 million in 2016 and that it will grow to $31.71 million by 2025.

What Problem Is the Company Solving?

Of the estimated 100 million paper posters shipped each year in the US, approximately 40% make it to the physical retail floor, and only 20% make it there on time, according to Glass-Media. The company says that it takes an average of four to nine weeks, from ideation to execution, to refresh a storefront window, whereas online marketing campaigns are dynamic and personalized, and change often. Omnichannel retailing can be enhanced with a dynamic storefront. Through digital storefronts, retailers and brands can align their offline and online marketing campaigns, improve content relevance and engage with consumers in a more experiential way.

Headquarters

Dallas, Texas

Funding Stage

Growth seed (<$3 million raised)

Business Model

Glass-Media customers pay an implementation fee up front, followed by an ongoing software/service subscription fee that can be billed monthly, quarterly or annually. The company offers hardware-enabled software-as-a-service.

Competitive Landscape

Glass-Media competes with interactive digital display companies such as Outernets, Nexnovo and Lumotune.

Management Team

Daniel Black, CEO and Founder, is a serial entrepreneur with a background in digital marketing and analytics. Nic Logan, COO and Cofounder, previously worked at the Ferrari brand’s Ferrari Store concept on the financial and operations management team.

Company Outlook

With more than 85 brands in the pipeline, Glass-Media will continue to focus on customer expansion and pilot programs. From a product development standpoint, system reliability, stability and scalability remain top priorities in addition to designing, developing and delivering improved analytics tools for customers.