I’m thrilled to share the news of Celect’s recognition in The Leading 100, an annual list that recognizes break-out technology start-ups driving innovation in the fashion and retail industry.
This list is curated by The Lead, a research firm that bridges the fashion and retail industry with the global Silicon Valley to empower the industry’s transition to digital centricity. They’re focus is at the crux of where fashion, retail and technology markets converge – where innovation is shifting behavior and constantly creating new business opportunities.
In an industry undergoing an unprecedented transformation where in-store revenues and foot traffic are in decline, bottom line improvements require a clear understanding and ability to adapt to customers’ ever-changing needs in advance, across multiple channels. That’s exactly where Celect comes in.
The Lead’s annual research lists identify category leaders that collectively point to the future of fashion, retail & commerce. Here at Celect, we understand that inventory continues to be both a retailers’ largest liability and greatest asset. The stakes have never been higher when it comes to determining what, when, where and how much customers will buy, and Celect offers retailers a reliable way through patented artificial intelligence and machine learning (AI/ML) technology to anticipate consumer demand at a hyper-localized level and make smarter, more profitable decisions throughout the inventory life-cycle.
The companies selected in The Leading 100 are evaluated for their ability to impact the industry through innovation and a superior product, as well as their total addressable market, media buzz, investor value creation, teams and competition. The Robin Report does a great job providing some background around The Leading 100 list, one of which is to highlight how startups, like Celect, are uniquely positioned in the legacy retail industry to solve a unique problem:
“Startups most often solve problems that big companies are too big to see. Since startups start with the consumer first and then solve the pain points and/or the consumers’ expectations, their synergy with the legacy industry acquirer is almost immediate.” – Robin Lewis, The Robin Report
The unique problem, for Celect, is to help retailers understand what their customers want by using AI/ML technology to remove any guesswork from the inventory decision-making equation. Ultimately, we want to help retailers make more informed inventory investments catered toward a true understanding of customer demand.
Access The Leading 100 list here or watch our latest webcast (see below) with one of our customers, Lucky Brand, to learn more about Celect.