The world of retail is changing rapidly, and this brings with it exciting opportunities to improve the customer experience. When in-store technology functions well, it can form a strong cornerstone for customer retention. Nearly half (46%) of shoppers say that interactions with functioning in-store technology increases their confidence in a brand, and a positive experience can also result in:
*More frequent visits to the business (44%);
*More recommendations to others (43%); and
*More frequent purchases (41%).
As many of you may know, IMAGR has spent the last three years developing SMARTCART, the AI powered shopping cart that is set to revolutionize the way you shop. Today we take a look at some of the top features and benefits provided by SMARTCART, and what impacts this will have on the future of retail.
One of the most frustrating aspects of the current shopping experience would have to be long lines at the checkout. We’ve all experienced this, and the self-service checkouts are not much better. With SMARTCART, there is no waiting whatsoever- each item is recognized and accounted for the moment it is placed into the basket. The process of using SMARTCART is easy and intuitive- you simply download the app, sign up, pair, and start shopping. SMARTCART completely eliminates the need for manual bar-code scanning through the use of advanced machine learning and computer vision. Our tests have shown SMARTCART to be at least 11 times faster than a traditional checkout, saving you those precious moments to spend at home, or doing the things you love.
Shopping is becoming less of a chore, and more of an experience. This is evidenced by millennial holiday spending patterns, which suggest 52% spent on experience related purchases. Customers are no longer simply walking in, purchasing their items, and leaving. Rather, they are increasingly looking for a more immersive retail experience. The benefit of SMARTCART in this instance is its ability to form more personal shopping experiences. In part, this is achieved by providing customers with customized recipe suggestions based on their purchasing habits. For example, if you regularly buy items needed to make baked pasta, the app might suggest the latest and greatest pasta recipes that utilize the ingredients you are already familiar with. Additionally, the SMARTCART app also has the ability to guide customers around the store to those difficult to find items or provide assistance if you are at an unfamiliar store!
Finally, by reducing checkout staffing requirements, supermarkets are able to dedicate more personnel towards improving the in-store experience. These duties include helping customers with inquiries, restocking shelves, or general cleaning and store maintenance.
Logistics (for retailers):
The benefits of SMARTCART over offerings such as Amazon Go are twofold; the ease of integration, and its scalability.
At IMAGR, we recognized the importance of taking an infrastructure light approach when we created SMARTCART. In practice, this means our technology can be easily retrofitted onto existing shopping carts, eliminating the need for costly new hardware. This relates to the point of scalability- unlike Amazon Go, SMARTCART does not need extensive arrays of sensors, scales, and detectors, which would otherwise necessitate the construction of a completely new store. Instead, the cameras are simply attached to any existing cart, instantly transforming it into a SMARTCART. Due to the minimal physical infrastructure required to implement SMARTCART, the entire system can be introduced on a zero-disruption basis, ensuring continued business operation and no loss of revenue during the installation process.
For retailers, another major benefit of our SMARTCART technology is its availability to all stores. Asides from the obvious cost issues associated with building an Amazon Go store, there is the additional barrier of licensing. We believe it is highly unlikely that Amazon would ever allow non-affiliated retailers to use their technology. SMARTCART is not constrained by any of these limitations, and as a result, global retailers have already expressed great interest in the use of our technology.
Are you ready to shop SMARTER?
IMAGR is an industry leader in the field of Artificial Intelligence, specializing in image recognition and machine learning. SMARTCART is an intelligent shopping solution which aims to streamline the retail experience through eliminating the need for traditional checkouts.
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