As we approach the busy fourth quarter, customers are anticipating the busy stores and dreaded lengthy queues that come along with black Friday and Christmas shopping.
Enex technology seeks to do away with that fear with their smart new Self Scan app that allows customers to complete their entire in-store shopping on their mobile phone. The app delivers a host of benefits such as minimising the risk of lost sales due to wait times and the ability to understand customer interests while they are still shopping in-store to increase basket size.
The Retail Gazette spoke to Enex Technology‘s co-founder and chief executive Ian Murphy to discover more about their journey so far and why working with a young mind can bring a host of benefits to retailers looking to solidify their place in the future.
Can you explain the idea behind Enex?
We all know that feeling when you walk into a store and see a long line queueing at the checkout.
My experience was exactly that. I saw people leaving the queues and other people walking out the store as soon as they saw the line. In a world where we are increasingly expecting everything to be instant, I couldn‘t help but wonder why queuing was still a big problem with in-store shopping.
My team and I developed a concept where the customer can complete their entire in-store shopping with their mobile phone.
What inspired you to start up the company?
Young people are on their mobile phones everywhere you go, they research a product before they enter a store and use it at the checkout with options such as apple pay. I saw an opportunity to fill out the grey area in-between.
After convincing my now CTO who literally worked at a rocket science firm to join me, I knew I had to grab this opportunity.
What is the benefit of an established retailer working with a young entrepreneur such as yourself?
Retailers are targeting young people like me as they work to futureproof their organisation. Not only do they have an experienced and energetic technology partner at Enex Technology, their desired demographic is working alongside them in helping to achieve their vision of attracting the next generation of shoppers.
If we share our knowledge together we can add value to any business.
How is Enex addressing some of the challenges facing the UK retail sector as a whole?
Enex Technology is maximising footfall to increase sales to offset the loses that currency fluctuations bring as a result of Brexit.
Describe your roles and responsibilities as CEO of Enex
As any start-up chief executive, my main role is to make sure that everyone I work with is able to work to the best of their ability.
Aside from that I manage cash flow, strategy setting and direction, brand development and making constant industry connections.
I am also currently overseeing the formation of a strong advisory board.
What has been the most challenging aspect of Enex and your role?
As any business, we are constantly challenged every day. However, the biggest challenge has been trying to break into the market place and prove to clients we have a unique offering, generating alternative means of income whilst investing in this new technology and finding the best team to work on this project with. I can positively say we have overcome those challenges and are still here today.
And the most rewarding?
1) Knowing that I am contributing to the future of retail which is going to directly affect me and my generation
2) knowing our technology has the potential to improve people‘s lives and change the face of shopping.
3) meeting people every day who are as passionate about retail and its future as I am.