NGP Capital - December 18, 2018
Celect is transforming the retail experience for the world’s most selective retailers.
Physical retail is not dead; although headlines regularly trumpet the large number of store closings, over 4000 net new retail stores opened in the USA last year. Retail is a $27 trillion-dollar industry worldwide with more than four out of five transactions still happening in the store.
However, the rise of Amazon and on-demand e-commerce is causing the retail sector to undergo tremendous shifts and being compelled to invest in accommodating changing consumer behaviors. Retailers are increasingly recognizing that the data they have on products, trends, locations, and customer visits needs to be used to deliver better value to their consumers, and to retaining their loyalty.
That is why NGP Capital invested in Celect, a cloud-based machine learning platform, helping retailers optimize inventory decisions at procurement, store allocation, and consumer fulfillment levels.