E-commerce has continually been improved, but a new venture aims to make physical retail more efficient and profitable.
The funding will go to improving the product and building the Flagship team, which now sits at eight full-time staff.
“Purely digital strategies are becoming more and more expensive,” he said. “Acquiring digital customers is harder and more expensive. The [social media] algorithms are changing, there is more competition.Every component of the technology had been led by Flagship’s retail clients. “We ask what they want,” Mr Molnar said.The technology was particularly useful for smaller brands battling the tyranny of distance. “A brand like Venroy is headquartered in Sydney but has stores all over the world.
“Physical retail hasn’t changed because it’s really hard to do,” he said. “Digital change is much easier: it’s code, it can be implemented quickly.
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