{"id":63082,"date":"2022-04-14T10:58:13","date_gmt":"2022-04-14T02:58:13","guid":{"rendered":"https:\/\/www.seeedstudio.com\/blog\/?p=63082"},"modified":"2022-08-23T09:42:23","modified_gmt":"2022-08-23T01:42:23","slug":"smart-retail-know-your-customer-drive-agility-in-operation","status":"publish","type":"post","link":"https:\/\/www.seeedstudio.com\/blog\/2022\/04\/14\/smart-retail-know-your-customer-drive-agility-in-operation\/","title":{"rendered":"Smart Retail: Know Your Customer, Drive Agility in Operation"},"content":{"rendered":"\n
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Artificial Intelligence is reshaping retail store business models in various essential business sectors including data-driven operation and customer analysis, computer vision-powered in-store autonomous experience, and loss prevention. After over 2 years of the pandemic, retail business owners meet new challenges as customers are expecting new and improved experiences when they get back to stores. From our partner Tryolabs’s takeaways<\/a> from Shoptalk 2022<\/a> in Las Vegas, Marie Driscoll<\/a> from Coresight<\/a> mentioned:<\/p>\n\n\n\n

Consumers expect everything, everywhere<\/strong>. They expect digital access in the store; functionality quick. Sometimes you go in wanting a quick, efficient pick-up; sometimes, you want to be romanced. So stores have to be efficient and sexy.<\/p>Tryolabs: The physical store is back
The state of retail in 2022: takeaways from Shoptalk<\/a><\/cite><\/blockquote>\n\n\n\n

Driven by AI technology, business owners start to use prescriptive and predictive analytics, rather than based on tradition, experience, or intuition. Real-time analysis and automation will help retail business organizations build a trained and trusted workforce in both in-store optimization and back-store operation. <\/strong>Mckinsey believes the Store of the Future<\/a> is likely to achieve EBIT(Earnings before interest and taxes) margins twice those without automation, with the improved customer experience, better employee engagement, and an easier-to-run store.<\/p>\n\n\n\n

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Mckinsey: store of the future, a transformation in store<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

\u2018Future\u2019 co-workers have arrived in retail stores. <\/h2>\n\n\n\n

In-store optimization: <\/h3>\n\n\n\n

Customers analysis:<\/strong><\/p>\n\n\n\n

Sentiment analysis: Zenus\u2019 smart camera<\/a> helps you know your customers better. <\/p>\n\n\n\n

? Join our webinar at 4\/15\/2022 9AM PST<\/a>: Learn your customer profile with AI, presented by Panos Moutafis, Co-founder & CEO at Zenus.<\/p>\n\n\n\n

Autonomous shopping: <\/strong><\/p>\n\n\n\n

Zippin’s checkout-free stores are helping basketball and football fans stay out of the crowds (from NVIDIA Blog) <\/p>\n\n\n\n

At Amazon Go<\/a> store, the shopping cart is built with scale, cameras, and sensors.<\/p>\n\n\n\n

Conversational AI<\/strong><\/p>\n\n\n\n

Drive-Thru: Toronto startup HuEx<\/a> applied conversational AI<\/a> assistant for drive-thrus. (NVIDIA Blog<\/em>)<\/a> <\/p>\n\n\n\n

Inventory<\/strong><\/p>\n\n\n\n

Fellow Robots, tracking inventory at Lowe\u2019s(NVIDIA Developer channel<\/em><\/a>)<\/p>\n\n\n\n

Loss Prevention<\/strong><\/p>\n\n\n\n

Loss prevention through real-time POS theft detection and security. (NVIDIA Webinar<\/em><\/a>)<\/p>\n\n\n\n

Back-store automation: <\/h3>\n\n\n\n

Automating inventory <\/strong><\/p>\n\n\n\n

Customers don\u2019t like to see items out of stock, but it is always hard for retailers to decide on inventory before orders come in. Lowe\u2019s applied Veterx AI for inventory management <\/a>across SKU and store-level forecasts.<\/p>\n\n\n\n

Warehouse Automation <\/strong><\/p>\n\n\n\n

Autonomous towing robot capable of towing loads in the warehouse, by KEISUUGIKEN<\/a><\/p>\n\n\n\n

Warehouse can integrate with human-computer interaction for picking and packaging. <\/p>\n\n\n\n

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Different AI technologies and tools have been proved to be able to offer internal rates of return higher than historical retail\u2014yet few retailers are moving quickly to implementation. Mckinsey thinks the bottleneck to automation is internally<\/strong> lacking skills and capabilities, not external<\/strong>, at their automation in retail article, 2019.<\/a><\/p>\n\n\n\n

We are seeing pricing, recommendation systems, large-scale promotions, and category optimization being more widely adopted in e-commerce platforms and it is becoming common sense. However, yet few retailers are moving quickly to AI implementation. Investment in new technologies, integrating new platforms into existing systems, or directly replacing existing traditional architectures, employee learning paths, etc,  perhaps are the reasons we have not seen the retail industry use AI technology generally like e-commerce. Will physical retailers need a revolutionary transformation of the store architecture to get benefit from AI? The answer might be one step further could be better than staying. <\/strong><\/p>\n\n\n\n

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Understand your consumers, driven by data rather than intuition. <\/h2>\n\n\n\n

How to collect in-store retail analytics on a massive scale? Analyze customers, promotion activations, and in-store reactions, let’s check out this truly \u2018plug and play \u2019smart camera, powered by NVIDIA SoM and Seeed carrier board for Jetson. Learn more about our partnership with Zenus<\/a> here. <\/p>\n\n\n\n

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Zenus<\/a> Smart Camera <\/h2>\n\n\n\n