Research has found that retailers who integrate Artificial Intelligence into their operations are able to create more personalized shopping experiences. This is documented to result in sales uplifts of between 6-10%- up to 3X faster than traditional retailers.
Additionally, it is said that AI technology has the potential of boosting retail and wholesale profitability by 59% come 2035. This isn’t surprising to us at IMAGR, because the very technology we are creating will directly contribute to improved shopping experiences for customers and increased sales for vendors.
From our internal findings, a shocking 39% of shoppers left a retailer without a purchase simply due to unacceptably long queues and a frustrating experience. Technology is disrupting industry, and we see no reason why there shouldn’t be a breakthrough in the retail sector- its long overdue.
Time is a limited commodity in our increasingly busy lives, and IMAGR’s SMARTCART helps shoppers save time. Not only this, but we believe customers deserve better than to be spending money, only to endure the frustrations brought about by a poorly designed and disconnected experience.
Purely in numerical terms, SMARTCART makes sense. Testing has shown SMARTCART to be at least 11X faster than a traditional supermarket checkout and 6X cheaper. For the customer, this means an exceptionally seamless experience with no time wasted. For the retailer, reduced checkout staffing requirements makes it possible to eliminate their greatest pain point and improve customer satisfaction. Once staff are no longer tied up at the checkout, they are able to focus on enhancing the in store experience, through helping customers, maintenance, and keeping shelves well stocked.
With an increase in auto-renewals, same-day delivery, and one-tap purchases, shopping will become less of a chore. This change will necessitate greater levels of investment into the experiential side of retail, which isn’t going away anytime soon. Customers are increasingly focused on finding boutique and artisan products, in addition to enjoying the unique experiences that such products bring about. Needless to say, it is those who embrace the latest technologies and trends who will ultimately succeed in retaining (and growing) their customer base. IMAGR’s advanced artificial intelligence powered SMARTCART is well positioned to become a market leader in the modern retail industry.
But what about Amazon Go?
The benefit of SMARTCART over Amazon’s “Go” concept is twofold. Firstly, our goal is to give ALL retailers the ability to improve their customer experiences. This simply isn’t possible with a proprietary technology such as Go, because only retailers owned by Amazon will have access to it.
Secondly, due to IMAGR’s “infrastructure light” approach, SMARTCART can be fully implemented at only a fraction of what it costs to construct an Amazon Go store, or any store using similar technology. This gives SMARTCART almost infinite scalability, a huge advantage for a cost effective and adaptable rollout. Our technology can be retrofitted into existing baskets and trollies, dramatically reducing the need for retailers to acquire new assets and allowing for the system to be introduced on a “zero disruption” basis.
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