Fostering a culture of curiosity, and nurturing innovation in Retail Tech Industry

The retail tech industry is a rapidly evolving and dynamic landscape that combines the worlds of retail and technology. As consumer behaviors and expectations continue to evolve, organizations in this industry face a myriad of challenges. Praveen Chintamani, senior director of engineering, Arzooo, recently spoke to Dataquest how companies in the retail tech industry must embrace innovation, adapt to change, and constantly strive for creative and efficient solutions that deliver exceptional experiences for their customers to overcome challenges associated with the industry.

DQ: In a rapidly evolving industry like retail tech, how do you ensure your team remains innovative and adaptable to change? 

Praveen Chintamani: Curiosity is the key to fostering innovation and driving growth. In the rapidly evolving industry we operate in, we recognize the importance of nurturing a culture of curiosity that empowers us to continuously innovate. Central to this culture is the freedom to question the status quo. Our goal is to challenge the way things are traditionally done and ask ourselves why they must be done that way. We understand that if we simply follow the same path as everyone else, we cannot expect to be truly innovative. This mindset is deeply ingrained in our team, as we strive to explore new possibilities, challenge assumptions, and discover novel approaches that set us apart.

DQ: Retail tech platforms often deal with sensitive customer data. How do you prioritize data privacy and security within your organization? 

Praveen Chintamani: Startups should wholeheartedly adopt the practice of data governance right from the outset, making it their utmost priority. Arzooo, at its core, emphasizes the integration of data security as an essential requirement from the very inception of any product we develop. Remarkably, every sprint we undertake includes a dedicated task dedicated to data security and privacy, considered as a paramount item of highest priority (P0). Additionally, Arzooo diligently adheres to the principle of data minimization and staunchly upholds the significance of obtaining explicit consent in all aspects.

DQ: What are the key challenges that organisations in the retail tech industry face?

Praveen Chintamani: In the ever-evolving realm of retail tech, organizations encounter a multitude of captivating challenges. They navigate the intricate choreography of blending state-of-the-art technologies with pre-existing systems, while simultaneously unraveling the complexities of data management and privacy. These tech-savvy players find themselves confronted with the task of delivering a flawless omnichannel experience, all while fending off the menacing specter of cyberattacks. Amongst these hurdles, the supply chain stands as a formidable beast, demanding efficiency, optimization, and the discovery of optimal solutions for end users.

DQ: Arzooo is operating in a highly competitive market. What is the key trait that is helping the company report steady growth?

Praveen Chintamani: Arzooo is revolutionizing the retail industry by empowering brick-and-mortar stores to effectively compete with industry giants. In order to keep up with these mighty corporations, we must operate on a similar scale in terms of product assortment, pricing, and supply chain capabilities. The key to achieving this lies in leveraging technology, which happens to be our area of expertise. By staying ahead of the game in terms of technological innovation, we can level the playing field and drive success for our partner stores.

DQ: What are the top trends that you foresee transforming the retail tech segment?

Praveen Chintamani: Retail tech has been experimenting with various AI and machine learning applications, primarily as proof-of-concepts (POCs), but now it's time to integrate them into the core tech stack. Full stack development is about to undergo a significant transformation with the inclusion of AI and machine learning, particularly in areas such as natural language processing (NLP) and generative AI. We are entering an awesome phase where what was once considered "luxury technology" will soon become a necessity in the retail industry.