Five retail technology questions for Food Rocket boss Vitaly Alexandrov
RTIH asks major players in the retail technology space for their thoughts on the sector, and throws in a random question to keep them on their toes. This time around, our five questions go to Vitaly Alexandrov, CEO and Founder at Food Rocket.
RTIH: Looking at the hottest retail technologies right now, check-out free stores, rapid delivery services, the metaverse and NFTs, automation and robotics, blockchain and cryptocurrencies, which ones stand out to you, and for what reason?
VA: I think that automation as well as AI technologies are the future of retail technologies.
We have a vision of delivering responsible AI powered tech innovations to enhance customer experience and to build a sustainable and profitable business model.
At the same time, automating fulfilment centres for online orders will make order-picking cheaper, increase the retailers’ flexibility, and cut their costs related to order-picking errors.
With each day our routine is becoming more and more digitised and in this fast paced world NFTs have an unlimited potential for business growth from a marketing perspective.
So, who knows, maybe in the future you could use Food Rocket in the metaverse, picking up your fresh groceries in real life.
RTIH: Which retail technology trend is overrated in your opinion?
VA: In my opinion, food preparation robots are a bit overrated from an economic perspective.
Automation is perfect for predictable tasks, but it makes no sense in the kitchen now.
Robots that cook pizza or salads look impressive but as for now they don’t cut costs; instead, their maintenance and technical support involve more expenses. I believe that the robotic revolution is still some way off in the future.
RTIH: What are the top retail tech Twitter/LinkedIn accounts you can’t do without, and why?
Christine Hall is a venture/startups reporter for TechCrunch with a particular interest in e-commerce and FoodTech. I follow her on Twitter to get the best news from fellow FoodTech entrepreneurs from around the world.
Erin Woo is reporting on technology and startups for The New York Times. She recently profiled Gopuff, and it was a fantastic read.
Berber Jin is a reporter at the Information, and I enjoy reading his articles on the food delivery business - they are very insightful.
RTIH: If you could have a dinner party with any five retail pioneers, dead or alive, who would they be and why?
VA: Circle K Founder Fred Hervey.
Founders of Whole Foods John Mackey and Renee Lawson Hardy.
Joe Coulombe, Founder of Trader Joe’s.
Sam Walton, Founder of Walmart.
The Amazon Fresh launch team.
The founders of retail giants are the people who have real entrepreneurial spirit and business oriented minds. I believe that I have a lot to learn from them and wish to talk with each of them.
And there is no doubt that the Amazon Fresh launch team are the pioneers of e-grocery. We have a lot in common and could discuss not just the trends and the future of the industry but the pains and challenges we face as well.
RTIH: If you could travel back in time, which era would you choose?
VA: I’d choose the Second Industrial Revolution, the period of rapid mass production, scientific discovery, and industrialisation.
I’d be excited to meet inventors and creators and even to contribute to the world changing inventions. I admire the bravery and open mindedness of people who made those discoveries and wish I could talk to them.
