The Retail Innovators
Follow us
ISO/IEC 27001 certification for information security
© 2018 - 2024 GK Software SE, Germany
GK will be providing the latest insights into its self-developed Big Data solution "GK SPOT", which retailers can use, among other things, to suggest individual offers to their customers across all channels and in real time. Trade fair visitors will also have the opportunity to experience GK's latest solutions in the area of "grab-and-go" shopping in a specially set-up container pop-up store. Additional thematic focuses of the trade show appearance will be on AI, personalization and dynamic pricing. GK CLOUD4RETAIL and all the solutions it contains are part of GK's end-to-end enterprise cloud platform, which enables retailers to make stores a central part of seamless omnichannel processes. Demand for SaaS solutions is currently growing massively: for example, half of GK's new customers in 2021 already opted for a cloud-based SaaS contract.
The exhibition will showcase GK's entire portfolio of solutions, which is designed to anticipate the ever-changing needs of international retailers at an early stage and help them to accompany consumers along the entire shopper journey. In addition, this year there will be the following main topics:
GK SPOT is the beta version of GK's latest Big Data solution, which has been designed to meet the unique needs of the trading industry. The native cloud solution is based on a microservices architecture and is open for 3rd party solutions that can access the fast long-term storage in the cloud via interfaces. In this cloud storage, all relevant transaction data is stored over a vast period of time and is available for real-time queries by both retailers and customers. One of the most important use cases currently being implemented is hyperpersonalization, i.e. AI-based and individualized customer targeting in real time at every touchpoint. This enables retailers to reach a completely new level of communication on products and offers tailored to customer needs.
For the first time, GK is demonstrating how contactless services and unattended stores with automatic article registration can be implemented for retailers with its "GK GO" solution in Düsseldorf. Based on the GK CLOUD4RETAIL platform, GK has set up a fully autonomous store format in a pop-up container. This is remarkable for the fact that all transactions are visible in real time on the customers' smartphones. In the future, this will open up a direct feedback channel for retailers to communicate with consumers while they are shopping and not just afterwards. The hardware for GK GO comes from partners Hitachi (Lidar Technology) and Shekel (intelligent shelves).
The starting point of almost every shopping experience today is the customer approach prior to the planned purchase. This can be significantly supported by 1:1 recommendations and actions tailored to individual customer needs. The booth will showcase how the AIR platform's cloud-based AI services create personalized omnichannel experiences that create a positive shopping experience and drive higher sales. Another important use case of the AIR platform is Dynamic Pricing. Here, Artificial Intelligence helps retailers make the best pricing decisions across their entire product assortment to optimize their sales and revenue strategies. In this context, GK is also showcasing a new AI-driven mobile solution at the fair to avoid food waste in fast perishables.
Complementing GK's product portfolio, Deutsche Fiskal's solutions will also be presented. The company offers the SaaS service Fiskal Cloud for the generation and storage of legally required electronic signatures and the corresponding storage of various receipt-related transactions.
Sustainability has become a budding social cause as people worldwide see the impacts of climate change firsthand. Yet, one region that is particularly focused on sustainability is Latin America, or LATAM. In fact, a recent eMarketer report found that 94% of internet users in Latin America believe companies should be investing more in social and environmental initiatives.
Not only do sustainable initiatives make a difference in the global fight against climate change, but they are also profitable. The same report from eMarketer explained that "while sustainability may cost businesses more money up front, consumers are likely to make more frequent purchases over the long term from companies that address the issue. Research shows that regional business leaders feel sustainability is, in fact, profitable and provides them with an edge over rivals."
With customers willing to reward sustainable companies with their business and their loyalty, reducing waste and creating a more sustainable business model provides a great opportunity for retailers. Let's dive into the ways retailers can become more sustainable.
In today's global economy, there are numerous ways that a brand or retailer can pursue sustainable initiatives. They can partner with fulfillment companies that reduce packaging, use more sustainable materials in production or eliminate unnecessary waste by not sourcing more than they can sell before the best-bought-before date.
At GK, we specialize in providing retailers with the tools they need to avoid waste without risking their margins. GK AIR's Dynamic Pricing tool in particular helps retailers meet this goal.
With GK AIR's Dynamic Pricing tool, retailers can leverage powerful machine learning algorithms to instantly calculate the optimal price for any item. The tool compares numerous evolving factors, even in the most turbulent retail environments. These factors can include input costs, competition, price sensitivities and even inflationary changes.
Inflation in particular is an important factor. In the coming year, inflation will remain a top concern for LATAM retailers as financial experts predict the cost of living in Latin America could soon increase by more than 10% (higher than anywhere else in the world).
In the case of sustainability, Dynamic Pricing can be used to determine the best promotional price to assign to a CPG item that may soon expire (or even to a bathing suit that is quickly going "out of season"). This keeps the item from becoming food waste and/or entering a landfill – without wasting valuable labor time asking in-store associates to apply discount stickers.
GK Dynamic Pricing gives retailers the flexibility to optimize their strategies at any time, so they can sell through timely items efficiently and concentrate on the performance of their products and improving KPIs.
For more information on GK LATAM and the sustainability initiatives in the region, follow GK LATAM on LinkedIn. If you want to learn more about how GK can help retailers worldwide incorporate eco-friendly practices, contact us today!
GK is ushering in the era of completely contactless shopping, alongside industry giants like Amazon and Starbucks. In fact, in November 2021 GK announced the launch of its new scanless store, GK Go. Located in Schöneck, Germany, home of GK's global headquarters, GK Go utilizes CLOUD4RETAIL to enable a seamless customer journey that can be used autonomously or staffed.
GK Go differs significantly from Amazon Go and other "just walk out" stores because it was built with the end customer in mind. GK Go gives the shopper access to in-depth information about what they're buying, and personalized promotions to further enhance the shopper journey. GK Go also gives retailers the chance to go fully autonomous or implement a hybrid model because the solution incorporates in-app payments, PED payments, partial assistance or the option to "just walk out."
But these aren't the only benefits of GK's latest innovation. Let's dive into the top three reasons retailers love GK GO.
Autonomous commerce has grabbed the attention of retailers globally as Amazon opened 30 Amazon Go stores in the last year and other retailers like Whole Foods and Sainsbury's followed suit. GK has approached this innovation differently than other "just walk out" retailers by partnering with Hitachi Smart Spaces solutions 3D Lidar Sensors and Shekel LTD Product Aware Technology to reveal real-time basket updates.
For example, GK Go allows customers to see all relevant information about their basket via an app as they are shopping; this includes items, price, additional product details, total cost so far, and promotions and coupons that have been redeemed. Better yet, these insights are provided with near 100% accuracy without the use of any in-store cameras that could threaten privacy.
While some retailers may worry about how an autonomous customer journey will limit brand engagement touchpoints, GK Go mitigates these fears. By creating innovative, new ways for retailers to connect with their shoppers without slowing them down, GK Go actually creates opportunities for retailers.
The app used with GK Go provides retailers an additional touchpoint that is familiar to the shopper. Through this channel, retailers deliver real-time, personalized deals and recommendations that will increase sales, basket sizes and customer loyalty. These up-to-date, personalized touchpoints are cost-efficient for the retailer and time-efficient for the shopper.
The GK Go store in Germany is also using electronic shelf labels from Hanshow. These smart screens enable dynamic pricing, promotions and more. All of this combines to provide more efficient operations for retailers, especially in autonomous environments, and a better shopping experience for customers.
Retailers know that success is driven by market retention and growth, and the fastest way to grow without acquisition is through partnerships. Fortunately, GK Go is built with an open API, giving retailers and their partners unprecedented flexibility. With this architecture, retailers can expand their offerings with little to no impact to their existing systems.
Since GK Go is hosted on the CLOUD4RETAIL platform, retailers can connect the scanless technology to all existing functionalities on the cloud server. This allows retailers to continue their unified commerce strategy by creating the best experience for any vertical, even as they incorporate the groundbreaking new tools. As the future of retail continues to evolve, GK Go keeps it simple
If you want to learn more about GK Go and scanless commerce, contact us today to schedule a demo. And be sure to follow us on LinkedIn and Twitter for the latest updates and customer case studies.
With EBITDA of 26.5 million euros, the previous year's figure was exceeded by more than one third (2020: 19.3 million euros). This was based on a significantly stronger increase in sales than in the previous year. Sales grew by 11.7 percent to reach 130.8 million euros (2020: 117.6 million euros), resulting in an EBITDA margin of 20.3 percent.
A major contribution to these results came from the acquisition of a total of 15 new customers in the CLOUD4RETAIL business, seven of them signing SaaS contracts. This demonstrates that GK is moving forward with the transition to the cloud business at an accelerated speed, and it continues to grow and be profitable in the process.
The company's full report is expected to be published on 28 April.
It’s clear that the more you know about your customers, the better you can anticipate their desires and needs. Successful ecommerce retailers are those that have implemented personalization to individualize the customer journey for every single shopper. Over the last few years, personalization has also found its way into traditional, physical retail.
Offering customers an extremely personal, relevant and positive shopping experience at every point of their journey is essential to helping retailers drive customer satisfaction and lifetime value. In fact, companies that excel at personalization generate 40% more revenue than retailers that do not, according to McKinsey.
If executed well, personalization should be invisible. AI-based personalization is similar to a game of chess. The technology recognizes the customer’s behaviors, or “moves,” predicts the chain of all possible subsequent events and then acts accordingly – recommending products – so that it wins “the game” by maximizing sales.
With today’s consumers, loyalty is up for grabs. 75% of consumers tried a new shopping behavior during the pandemic, and comparing stores, products and prices is now part of their regular habits.
Retailers can make their store the one a shopper chooses by recognizing what products they are looking for, even before the consumer themselves make it known. How, you ask?
AI-driven personalization can learn new rules automatically and in real time. This personalization is based on clicks, shopping baskets, past purchases, external and internal search queries and engagement on banners. AI-powered applications continuously and independently collect this data, recognize patterns and regularities and then make personalization possible right from the first click.
Additionally, personalization can be achieved in the following ways:
Real-time recommendations can be utilized as a consumer interacts with a newsletter or a retailer’s app. Showing personalized content and product recommendations generates more value by improving open and click-through rates. In addition, interaction on these channels can trigger push notifications with relevant offers directly to a shoppers’ phone.
Artificial intelligence can also suggest alternative products through image similarity. Image similarity analyzes factors like color and shape, and combines these factors with other filters such as price range or brand, ultimately helping shoppers find the perfect item. Image similarity has been shown to reduce the number of abandoned carts or returned items, ultimately increasing sales.
Comparison shopping is common. As a result, price is an important factor to a sale. However, it’s difficult for retailers with several stores to navigate factors that influence prices – including the supply chain, consumer demand and products’ relationships to one another. With AI-enabled dynamic pricing, retailers can react to internal and external factors, helping them to quickly and effectively establish optimized prices that are appealing to shoppers and meet their unique needs.
71% of consumers expect personalization, but true personalization is impossible to manage effectively without artificial intelligence. Across all customer touchpoints – including in store, online, newsletters and apps – retailers can be sure that unique, personalized scenarios reach shoppers.
Our AIR solution allows you to inspire customers with personalized shopping experiences, that also increase revenue and margins. Learn more about how we can help!
Their goal with the collaboration is to provide retailers around the world with a perfectly matched combination of scales hardware and software that offers consumers the best possible shopping experience. Within the scope of the technology partnership, GK will further optimize its OmniScale solution, based on the open platform GK CLOUD4RETAIL, for use on METTLER TOLEDO’s modern commercial scales.
OmniScale is based on the same software platform as GK’s other solutions and supports all types of scales used in retail – from counter scales, self-service and checkout scales to pre-packing systems. It utilizes exactly the same infrastructure as systems such as cash registers, mobile devices, or vending machines, thereby enabling retailers to run company-wide promotions and loyalty campaigns, be it in store, in retail catering, or at gas stations. Using OmniScale on METTLER TOLEDO’s hardware gives retailers the opportunity to implement innovative promotions on their scales, such as personalized recommendations or coupons, as well as allowing them to communicate with cash register systems or customers’ smartphones.
METTLER TOLEDO Retail scales are highly efficient, durable solutions with PC-based technology and standardized interface options. METTLER TOLEDO offers modular solutions for the fresh service counter, fresh produce departments, and the checkout area, complemented by a global service and support network to increase productivity and sales in food retail.
Under the agreed technology partnership, both companies will work to closely align their solutions and will give each other early notice of the deployment of new technologies and further developments
METTLER TOLEDO is a leading global manufacturer of precision instruments. The company is the world’s largest manufacturer and supplier of weighing systems for use in laboratories, industry, and the food retail sector. METTLER TOLEDO is one of the top three suppliers in the field of complementary measurement technologies and a leader in the production of systems for automated pharmaceutical research and active ingredient development. As the world’s largest manufacturer and supplier of metal detection systems, METTLER TOLEDO also offers support for manufacturing and the packaging industry. Further information on the company is available at www.mt.com.
In this series, we sit down with members of the GK Software team to learn more about their experience with the company.
I’ve been in the retail software industry for 17 years, working for companies like Retalix, NCR, Wincor-Nixdorf, Shell Americas, Flooid, and now GK Software.
I started my career in the retail software industry in quality assurance for commercial fueling customers and shortly after moved on to project and executive program management. And for the past six years, I’ve worked in retail software sales in pre-sales, and as a technical account executive.
There is much to like about GK and it’s hard to pinpoint one specific part, but I’d have to say a main part is the people. I interact with coworkers at all levels of the company daily and it’s clear how everyone here is committed to each other and goes the extra mile all the time.
Another aspect that I’d have to focus on is the GK Platform, Touchpoints and Enterprise solutions. From a technical standpoint, OmniPOS is a leading solution that uses latest technology and truly allows our customers to be creative and enhance their shopper experience creating unique customer journeys.
I’ve been a part of GK for a little over a year, but it was quickly apparent that the solutions are designed with the industry’s needs in mind. The App Enablement feature allows retailers to integrate with external apps and third-party vendors directly into a POS interface. As a result, our customers have the flexibility to design and develop their custom journeys, and third-party applications can integrate into GK OmniPOS in a matter of hours across all aspects, POS, loyalty, pricing, promotions, and payments.
CLOUD4RETAIL is the only platform on the market that delivers a single POS solution across all retail verticals and integrates aspects like payments and loyalty. And by all verticals, I mean all verticals, including grocery, fashion and department stores, hospitality (both quick service and table service), convenience and fuel, mass merchandise and more.
I enjoy spending my free time with my family, and riding motorcycles – both on and off road.
2021 proved to be another exciting year for retailers of all sizes and verticals, from navigating supply chain challenges and labor shortages to implementing click-and-collect services and cashierless formats.
GK was there every step of the way, reinforcing our mission to be the world's leading provider of comprehensive retail applications for real-time omnichannel business systems.
As we prepare for an even more exciting 2022, we've highlighted our top successes of 2021, including customer wins, product launches and our work with partners.
In 2021, GK saw significant global success, including:
2021 saw the announcement of CLOUD4RETAIL 5.19, the enterprise-class, unified platform for every retail format. The feature-rich open platform offers unrivaled time-to-market for retailers of all sizes to scale their business.
To usher in the era of contactless shopping, we also launched a new scanless format, GK Go, which helps shoppers check in, grab items, and pay on their phone or simply walk out of the store. Unique to other scanless formats, shoppers using GK Go can see their basket content, item information, prices, promotions and more at any point – not just after they leave the store.
GK has partnered with several companies to provide added value to retailers, including:
This past year, GK partnered with leading grocers, convenience stores, QSRs and full-service restaurants, fashion, and other retail segments to provide flexible enterprise-class solutions on the industry's most advanced platform.
Hy-Vee completed a full deployment of the GK OmniPOS, TransAction+ Payments and GK Drive forecourt solutions in all its convenience stores. The deployment enables Hy-Vee to deliver the same futureproof and scalable services to its customers at the pump and in the store.
You can read more about Hy-Vee's rollout in Convenience Store Decisions and Chain Store Age.
As we continue to help businesses power the modern retail experience, we look forward to a successful 2022!
Click here to learn more about our achievements over the course of 2021.
GK is proud to announce several milestones and accomplishments from 2021 that illustrate its position as the leading provider of innovative and flexible solutions for omnichannel retailers. The company's customer success, product launches and strategic partnerships have led to proven results, and GK continues to help businesses like Hy-Vee power the modern retail experience with its industry-leading solutions.
This past year, GK partnered with leading grocers, convenience stores, QSRs and full-service restaurants, fashion and other retail segments, to provide flexible enterprise-class solutions on the industry's most advanced platform.
Hy-Vee, an employee-owned retailer operating more than 285 stores in eight Midwestern states, completed a full deployment of the GK OmniPOS, TransAction+ Payments and GK Drive forecourt solutions in all its convenience stores. The deployment enables Hy-Vee to deliver the same futureproof and scalable services to its customers at the pump and in the store.
As well, in the second half of the 2021 fiscal year, GK won two more major SaaS customers in the U.S., amounting to approximately 10,000 new installations. These new customers underline the ongoing shift in demand towards cloud solutions.
In 2021, GK saw significant global success, including:
GK holds the top spot for new POS software installations by retailers worldwide, according to RBR Global POS Software 2021. To further highlight its accomplishments, GK was included in the Gartner Hype Cycle Report as a sample vendor in two categories — contextualized real-time pricing and unified commerce platform.
As well, GK was named a Representative Vendor in the 2021 Gartner Market Guide for Retail Unified Price, Promotion and Markdown Optimization Applications. It was selected for Dynamic Pricing by GK, an AI-enabled solution that allows retailers to optimize their omnichannel pricing strategies in real time and at scale, based on the full scope of their available customer and market data.
Just recently, GK was named to Forrester's Now Tech: Merchant Payment Providers, Q1 2022. The recognition highlights GK's TransAction+ solution based on market presence, geographic focus and vertical expertise. TransAction+ is the leading payment processing application for North America that integrates a variety of point-of-sale systems with a wide range of payment authorization providers.
GK announced the new release of CLOUD4RETAIL 5.19, the enterprise-class, unified platform for every retail format, in July 2021. Based on the open cloud platform, GK offers a comprehensive portfolio of market leading solutions for omnichannel retailers, including enterprise infrastructure, customer touchpoints, merchandize management and payment.
To usher in the era of completely contactless shopping, GK also recently announced the launch of its new scanless format, GK Go, which helps shoppers check in, take items, and walk out or pay on their phone. Unique to other formats, shoppers using GK Go can see basket content, item information, prices, promotions and more at any point – not just after they leave the store.
GK has partnered with several companies to provide added value to retailers, including:
"We are thankful for the demonstrated strong growth in 2021," said Michael Jaszczyk, chief executive officer at GK Americas. "Not only did we implement the most POS software installations for the third year in a row, but we also launched exciting capabilities like scanless shopping to help retailers keep up in this competitive landscape. We will continue to innovate in new and exciting areas in 2022, further expanding GK's capabilities as the leading provider of omnichannel solutions."
In order to further expand business in this region, GK Software Asia Pte. Ltd. was founded in the international business hub Singapore. It is GK's goal to increase business relationships with the region's leading retailers from this excellent location. GK customers are already using the company's solutions in their branches in China, India, Japan, Macau, Malaysia, Thailand and Singapore.
GK Software SE is pleased to announce that Vikrant Bhalla has been appointed as the Senior Vice President & General Manager of APJ, effective 1st of January 2022. Bhalla is a highly customer focused and passionate retail enthusiast with over 20 years’ experience in leadership roles across the emerging markets. He will be based out of Singapore and lead the newly established GK Software Asia PTE. LTD reporting to Michael Dimde, Senior Vice President Global Sales – GK Software SE.
“We are experiencing incredibly strong growth across the globe as retailers accelerate their digital transformation efforts. Asia-Pacific & Japan’s market potential is huge and is propelling the retail industry, generating about three-quarters of global growth.”, said Dimde. “Vikrant is a proven business leader with a record of building organisations from ground up, delivering outstanding results and creating world class innovative solutions for clients. Vikrant’s leadership qualities and GK’s inherent value proposition of its open retail platform approach, clear cloud strategy and strong product portfolio are an amazing combination for APJ’s dynamic market.” Dimde added.
Bhalla joins GK, with in-depth knowledge and experience of the retail industry in the APJ region. Over the last two decades, he has worked in large blue-chip organisations such as Toshiba and IBM across Australia, UK and Singapore in various roles ranging from leading professional services, product management and regional sales leadership teams to help clients develop business strategies to transform for the digital future.
“I believe that delivering an engaging, highly personalised customer experience is the key to success for retailers especially in the difficult times we have all experienced over the last couple of years.”, said Bhalla. “My purpose with GK is to build a robust, fast paced agile organisation in the APJ region to help develop amazing customer journeys for our clients so that they differentiate and elevate for success.” he added.
The Retail Innovators