How retail edge and IoT solutions improve customer experience (Infographic)

In the span of a few weeks, the retail experience has permanently changed for consumers and retailers alike. Trends that were already emerging have accelerated, including the need for retail efficiency, which includes inventory management and loss prevention; the delivery of personalized experiences to shoppers, online and offline; and the rise of the omni-channel shopper, who shops online, in-store, and on mobile and on average purchases 70 percent more often than an offline-only shopper. 

With their focus on customer experience, retailers are evaluating their operations, adjusting their strategy, and making changes at all levels. They are using real-time data and analytics to make better decisions based on their customers’ preference and needs.

Playing a central role in making this possible is the convergence of artificial intelligence, edge computing (which enables processing closer to the source), and Internet of Things solutions, among others. Retail edge and IoT solutions that utilize computer vision – an area of artificial intelligence that applies machine learning to understand and define images and videos – are increasingly being implemented and deployed.

Examples of AI-based video uses cases include:

• In-store ad analysis, such as behaviors of customers interacting with ads and displays
• Queue management, including to improve the check-out experience
• Retail analytics, such as analyzing a customer’s movements throughout the store

These are helping to personalize the experience and reduce friction in the payment process. They are also improving restocking with better inventory prediction.

Leading the way in the shopping experience evolution has been Amazon Go, Amazon’s contactless stores. These stores enable customers to skip checkout, considered by customers to be the biggest obstacle in the sales experience. 

Creating that experience could be more important than ever as 76% of Gen Z shoppers feel physical stores give better shopping experiences. 

Learn more about retail edge and IoT solutions and how computer vision is being used to improve the customer experience below.

See also: Podcast: Retail PowerChat #019 – Impact of Edge & IoT on Retail with Kirsten Billhardt, Part I