Customers are gearing towards e-commerce. COVID-19 once again highlighted this experience. Brick and mortar retailers have some catching up to do - latest research shows that nearly 90% of customers have left the store as a result of long queues. However, queues regarded as a necessary...
When e-commerce is taking over the world, high street retailers are still searching for ways to up their data analytics efforts. AI retail shelf monitoring solutions provide retailers an opportunity to make smarter decisions about sales, marketing, staffing, security and many more. AI shelf monitoring solutions...
The platform helped to reduce cashier idle time by 57.66% when measuring against the baseline, equaling to more than 2.5 man hours per store per day. The software also prevented 237 queue forming incidents, saving an average of 2.25 hours in customer wait time per...
Self-checkout counters are a part of the contemporary retail landscape. Researchers forecast that their utilization rate in retail stores will grow at least 10% year on year for the next 5 years. Self-checkout was envisioned as a frictionless way for customers to conduct their shopping without...
In the midst of the COVID pandemic, retail changed in a fortnight. Extra safety precautions, panic buying, fights over the last toilet paper rolls and understaffed stores – this is the new grocer reality! In these difficult times retailers are turning to AI solutions to support...
According to Leicester University research, in 2.88% of self-checkout transactions at least one of the items is mis-scanned. In total approx. 0.52% of all items are mis-scanned via self-checkout resulting in heavy losses for retailers. The research analyzed 140 million self-checkout transactions. 17 million post...
On shelf availability (OSA) estimates the time and percentage a product is available for sale to customers on a store shelf. It is one of the key performance indicators for fast moving consumer goods analytics. The metric has direct correlation with out of stock rate...
Although retailers turned so many business processes into exact science, queue management remains a mystery. Just ask a store manager what is the average number of items scanned by cashier per minute and you will get a precise number. Ask the manager how much time...
In my 20+ years in retail I learned one thing: retail loves precision! Retail managers are obsessed with key metrics: sales per square foot, average transaction value, year on year sales and many more to evaluate your store performance. However, there is a key problem...
The age of perfect customer experience is upon us. Although many shoppers turned online, physical stores are still the best way to convey the brand’s message and present your products. Top level brands invest a lot into carefully crafted ‘retail experiences’. So why does shopping...