European markets witness new innovation partner in retail technology
Hanshow Technology with its EuroCIS 2022 presentation has displayed the potential for being one of the highlights of future European retail digitization. But EuroCIS was not the beginning of its story, in fact, the retail technology company has hit a global sales volume of 100 million electronic price labels as a recent milestone, and has long been considered by its partners in the European market as one of the biggest innovation drivers and digital service providers.
An "unconventional" player
As a representative case of retail technology companies blooming in the European market, Hanshow can be seen as a ‘conventional’ and ‘unconventional’ retail technology provider. It is ‘conventional’, because – as many other technology companies have shown in recent years – it is able to accurately grasp market pain points and industry insights and therefore is capable to swiftly upgrade commercial innovation, whilst providing pragmatic and customized product solutions. This has allowed Hanshow to achieve high-speed sales growth and customer satisfaction.
It is ‘unconventional’ in its overall strategic approach by creating AI-based SaaS solutions that go further than the conventional output of ready to use gadgets many companies are known for, and how it keep s pushing its industry vision and product innovation to the next stage of a broader and more diverse forefront with countless new technical upgrades. One testimony to that is the unveiling of its integrated retail IoT platform ‘All-Star’, combining both the success of traditional ESLs and cross-functional AI operation management technologies in an elegant, off the shelf solution, coupled with easy access and numerous ways to analyze received data to further optimize retail operation management, making shops smarter for both the staff and end customers.
With solutions such as this, Hanshow has been at the cutting edge of retail technology ever since its founding in 2011. Through building partnerships with major European retailers, it has learned to adapt to highly diverse retail environments and cultures, and always underlines its partners believes in the power of inclusive technology, promoting both social and commercial values at the same time for diligent European retailers to extend the imagination to their customers and the market.
An industry expert with a ‘European mindset’
During a long and harrowing period for brick-and-mortar retail amid the extended periods of lockdowns across the world, innovation did not stop. In fact, customers are now attuned different and expect more, with cross-border E-commerce shopping and online delivery having achieved their biggest boon ever. Now off-line retail has to step up and deliver back a comparable experience to meet the new digital opportunities.
The European market and especially the so called DACH area (Germany, Switzerland, and Austria) is at the helm of retail advances, using the breakthroughs that are provided by the dedicated retail technology partner. Whilst every one of the retail tech providers makes a unique pledge, Hanshow offers customers dedicated development teams and innovations, showcased and experienced by its numerous clients in Europe.
Deploying scalable and affordable enterprise grade IoT applications in the retail industry was previously restricted by technological limitations. Hanshow has developed a SaaS solution that accelerates this digital transformation by connecting store shelves to retailers, store operators, and customers on an unprecedented scale by accommodating commercial insights of their retail business. Whilst maintaining technological leadership, Hanshow points out that it is crucial to pursue "customer-centric" and high-quality digital services including deep know-how into their partners ’ pain points.
Now, the company is increasingly building a clear and comprehensive brand image in conjunction with its European partners to share and integrate with their core business values. As such it actively promotes a localized and diverse open office team building to partake in the willingness of discussing corporate social responsibility, open entrepreneurial culture, growing emphasis placed on innovation, environmental safeguards and sustainable development, with its digital solutions enabling retail businesses to be more efficient, profitable, and sustainable.
As an example, Hanshow’s electronic shelf labels and other digital retail solutions such as Lumina LCD screens allow for a practice known as dynamic pricing, which enables stores to program automatically discounted prices at specified times to sell off soon-to-expire food items. This has been shown to reduce food waste by around 30%, especially of fresh food items.
In fact, by making sustainability a priority from the supply chain to product shipment to the product lifecycle to recycling, Hanshow addresses reducing the environmental impacts of its business through out the entirety of its operations, and constantly delivering efforts in the area of sustainability shown in its 2022 Sustainability Report.
Innovation comes from inclusiveness and partnership
It is widely believed that the future of retail development lies in technology and business innovations. To help their client retailers achieve this at the forefront of retail technology, Hanshow focuses on a single target of realizing this whilst adhering to the spirit of openness and inclusiveness.
“The future possibilities are endless,” said Hanshow CEO Mr. Shiguo Hou. “Digital store solutions can now become a reality for the world’s largest retailers. This is the future. We are already seeing the wide-ranging benefits this technology brings to customers and retailers, and Hanshow is dedicated to continue ing these breakthroughs on an even grander scale.”
Mr. Hou also emphasized that the company is not afraid of squaring up to challenges, staying diligent in working with local industry partners and dedicated to its pursuit of retail tech innovation and respect for international patent networking.
As he pointed out to iXtenso, "Hanshow always respects intellectual property rights, strengthening independent innovation and cutting-edge technology, whilst taking aim at becoming the lead in the industry, all in compliance with the associated laws and regulations. The complicated world of technology development will always rely on international cooperation. Hanshow therefore anticipates promoting and fostering a healthy competition and will keep contributing to an open and inclusive business environment in the global retail technology market."
Looking ahead, Hanshow thus continues to pave the way for integrating subtle market insights and specializing in front-edge industry thinking, aiming to establish a comprehensive, concise, convenient and long-term constructive industry eco-system. This allows the company and its many partners in Europe and globally to weather market challenges and improve digital management insights, making retail truly fit for the future.