Tiliter's CASE STUDY

The story of Tiliter is one of technological brilliance fused with practical business acumen, creating ripples in the retail sector. Founded in 2017 and headquartered in the heart of Sydney, Australia, Tiliter's mission is simple yet profound: revolutionize the retail experience by leveraging the power of artificial intelligence (AI) and computer vision.

Innovation at the Core

Tiliter’s flagship product is their AI-powered recognition system, a pioneering technology that identifies fresh produce and various items without barcodes. This reduces checkout times and enhances the customer experience immensely. To put this in perspective, a study by McKinsey & Company found that customer experience leaders in retail generated a revenue growth rate of 7-10% higher than those who didn't focus on the customer experience (McKinsey, 2022). With Tiliter's product, the company is not just keeping pace with the trend but setting new benchmarks. Our technology integrates seamlessly into existing retail systems, providing a smoother operational flow and minimizing the need for manual input. This innovation addresses a pressing issue: the frustratingly slow checkout lines. According to Nielsen, 79% of consumers view checkout speed as a major influence on their shopping experience (Nielsen, 2023). The seamless speed of Tiliter’s recognition system promotes efficiency and customer satisfaction.

Business Model and Revenue Streams

At its core, Tiliter operates on a B2B (business-to-business) model, primarily through a subscription-based revenue system. Retailers pay a recurring fee for access to Tiliter’s advanced software, and the cost varies based on store size, number of checkouts, and required software customizations. Moreover, Tiliter adds value through supplementary services such as installation, maintenance, and customer support. According to Gartner, by 2025, 55% of large enterprises will successfully implement an "as-a-service" model for their core business functions (Gartner, 2022), highlighting the relevance of Tiliter’s approach. This holistic service provision ensures that customers are not just purchasing a product but investing in a long-term solution that grows and adapts with them.

What Sets Tiliter Apart?

Several unique elements make Tiliter a standout in the retail technology sector. Firstly, we have a highly specialized AI team skilled in machine learning, artificial intelligence, and computer vision algorithms. This deep technical know-how allows us to build systems that can differentiate between hundreds of products with near-perfect accuracy. According to a recent report by Tractica, the AI market in retail is expected to grow to $7.3 billion by 2023 (Tractica, 2023), and Tiliter is well-positioned to capture a significant market share. Our systems are not only smart but also versatile. The Tiliter Standard Station—encompassing a computer, web camera, integrated Tiliter web app, electric scale, and scanner—can be custom-fitted to various store layouts and operational needs. This makes our offering not only advanced but adaptable. Furthermore, our service is environmentally friendly. By minimizing the need for printed labels and reducing checkout time, Tiliter helps retailers lower their carbon footprint. According to a study by the Environmental Protection Agency (EPA), reducing waste and improving operational efficiency are crucial for sustainable retail operations (EPA, 2022). Our solution aligns perfectly with these sustainability goals.

Meeting Customer Needs

Tiliter excels in addressing various customer needs—be it social, emotional, or functional. 1. Social Impact: People seek motivation, affiliation, and a sense of belonging. By eliminating frustrating checkout experiences, Tiliter indirectly enhances shopper satisfaction, promoting a positive social environment in retail spaces. 2. Emotional Needs: Design aesthetics and streamlined user experience satisfy the emotional need for access and ease. According to a study by Forrester, businesses that prioritize emotional connections with their customers see significant revenue growth (Forrester, 2023). 3. Functional: Time-saving and effort reduction are quintessential retail improvements. Tiliter simplifies and connects various operational elements, making the entire shop floor smarter and more efficient.

Disruptive Innovation and Market Expansion

Tiliter exemplifies disruptive innovation through its subscription-based, Software as a Service (SaaS) model. By digitizing traditional retail systems, Tiliter augments products to generate valuable data, turning everyday transactions into actionable insights. According to IDC, data-driven organizations are 23 times more likely to acquire new customers (IDC, 2023), underscoring the critical role of data in modern business strategies. Our market expansion is also worth mentioning. Initially focused on Australia and New Zealand, we have successfully penetrated the United States retail market. This geographical diversification mitigates risk and leverages growth opportunities in various economic environments.

Conclusion

In closing, Tiliter is not just another tech company; we are innovators striving to create smarter retail environments. Our AI and computer vision technologies don't just improve the shopping experience—they redefine it. By enhancing operational efficiency, speeding up checkouts, and offering a versatile, eco-friendly solution, Tiliter stands as a beacon of innovation in the retail technology sector. Our story is still unfolding, but one thing is clear: Tiliter is primed to lead the next wave of technological advancements in retail, making shopping smart, seamless, and satisfying for everyone.