What Shopic does
Shopic provides brick and mortar stores with an easy-to-deploy frictionless checkout solution. The company has developed a computer-vision device that can convert ordinary shopping carts into smart carts.
Customer communicationsShopic’s checkout solution uses a device with a tablet-like interface that enables stores to communicate directly with consumers.
Real-time analyticsThe solution can provide stores with real-time data and analytics comparable to data generated by e-commerce.
Tailored customer experienceThe data Shopic generates enables stores to provide consumers with a tailored experience supplying consumers with personalised promotions that can be advertised directly on the device.
Financially viable solutionAlternative frictionless solutions often carry a high capital expenditure cost for stores requiring substantial infrastructure adaptations. Shopic, however, sells the device on a subscription-based model providing stores with the ability to modernise without the need for extensive capital expenditure costs.
Why we invested
Supermarkets, operating on tight profit margins, are under threat from online shopping alternatives offering superior prices, fast delivery and a better user experience. Unable to track the same level of customer data to online competitors, companies operating these stores are struggling to either optimise pricing or the shopper’s experience sufficiently to compete.
Smart retail and frictionless checkout solutions have sought to combat this differential. However, these solutions often carry a high capital expenditure cost and require significant infrastructure adaptation.
Shopic has developed a computer vision-based device that can turn a standard shopping cart into a smart cart, enabling frictionless checkout whilst providing real-time data analysis and data-driven insights for supermarkets. The solution has no need for extensive capital expenditure or the replacement of monolithic smart carts for maintenance and repairs.
"We wanted to find ways to optimise shopping experiences and close the gap between online commerce and physical stores"
Co-founder and CEO