technology trends in retail- bootup · • activity detection for differentiated shopping...
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Intelligent shoppingTechnology trends in retail
Introduction 03
Technologies enabling next gen retail 04
Case study - Walmart 05
Retail 2025: What to look forward to 06
Retail 2025: What to look forward to (contd.) 07
Key players 08
Key players and investments 09
Why BootUP? 10
02
IntroductionIndustries across the world are getting disrupted at an increasing pace due to technology that promises to
make consumers’ lives easier while keeping businesses firmly in the red. Though reports on breakthroughs
in artificial intelligence lean towards sensational stories like self-driving cars and AI-equipped players
beating their human counterparts in notoriously complex games like Go, one industry that makes less
news but has a significant impact on the lives of ordinary individuals due to its increasing use of artificial
intelligence is retail.
These are just a few ways in which technology has changed the retail experience as we know it:
03
Amazon’s Echo and Google’s Home are not
just speakers but can help you shop from the
comfort of your home. All you need to do is
place a voice order mentioning the items
you’d like to buy, and the speaker places the
order with the Amazon’s ecommerce site or
Google’s retail partners, respectively.
Virtual assistants like Apple’s Siri and
Google’s Home help shoppers create
shopping lists through voice commands, and
then check out individual items or entire lists
through the connected ecommerce stores.
You can even create default shopping lists
which can be automatically checked out
based on reminders.
Physical shopping acquired a new dimension
with Amazon Go, Amazon’s next generation
supermarket, where you can pick up your
purchases and walk out without having to
stand in a checkout line, and receive an
online bill for your purchases, for which you
can confirm payment through the registered
credit card.
Smart speakers Virtual shopping assistant Grab-and-go retail
04
Technologies enabling next gen retail
Artificial Intelligence • Deep learning-powered shopping
• Better predictive and prescriptive models
• Activity detection for differentiated shopping experiences
• Personalized promotional deals and loyalty programs
• Up-to-date product range based on shopping trends
Chatbots • Provide personalized assistance
• Provide product recommendations
• Share brand or product updates
• Provide in-store assistance and navigation
• Offer promotions based on location
Internet of Things • Deep learning-powered shopping
• Better predictive and prescriptive models
• Activity detection for differentiated shopping experiences
• Personalized promotional deals and loyalty programs
• Up-to-date product range based on shopping trends
Big Data • Deep learning-powered shopping
• Better predictive and prescriptive models
• Activity detection for differentiated shopping experiences
• Personalized promotional deals and loyalty programs
• Up-to-date product range based on shopping trends
Cloud • Deep learning-powered shopping
• Better predictive and prescriptive models
• Activity detection for differentiated shopping experiences
• Personalized promotional deals and loyalty programs
• Up-to-date product range based on shopping trends
Blockchain• Deep learning-powered shopping
• Better predictive and prescriptive models
• Activity detection for differentiated shopping experiences
• Personalized promotional deals and loyalty programs
• Up-to-date product range based on shopping trends
OVERVIEW
Walmart is the undisputed king of offline retailing, with its 11,000 brick and mortar stores. Though titans in the ecommerce space
such as Amazon and Alibaba are challenging Walmart’s supremacy in the online space, Walmart is aggressively coming out on its
own, using bleeding edge technology that includes artificial intelligence (AI), internet of things(IoT), big data, robotics, virtual reality
(VR) and augmented reality (AR).
INITIATIVES
Walmart’s push for supremacy in online retailing covers various areas, including:
Enhancing operational efficiency in stores
Using facial recognition and behavioral analysis technologies, Walmart analyzes customer behavior while browsing or while waiting
at checkout queues to determine if they are getting frustrated or need help, so it can quickly dispatch assistants to help them out
and ensure that customers always have a pleasant shopping experience.
Providing a rich blended experience
For customers preferring online shopping and picking up their purchases at a convenient Walmart outlet, Walmart offers them the
option of completing their purchase online and scanning their purchase receipt at a Pick-up Tower, which is placed at the entrance
to the offline store. Within 45 seconds of scanning the purchase receipt, the customers purchases are delivered to them on a
conveyor belt. Also, if customers are making pharmacy-related purchases or using Money Services, they can prefill the paperwork
needed and finish the purchase transaction in the app, and when they enter the offline store, they can simply pick up their
purchases and leave, without having to wait in the checkout queue. Initiatives like these have won the approval and delight of
Walmart shoppers.
IoT to transform the shopping experience
By placing IoT tags/sensors in products, Walmart can monitor the usage routines of customers by product, expiry dates, and
defects, and send reminders based on this data to customers so they can replenish products before stocks run out, or know about a
product’s impending expiry in advance. The vast amount of data gained by Walmart because of monitoring every individual product
in this manner, as well as the interactions of the product with other smart devices, such as refrigerators, using Bluetooth and RFID,
will give Walmart a strong edge over competitors in understanding and predicting customer preferences and offer them the
maximum convenience.
Walmart - Pushing the limits with technologyCase study
05
06
Retail 2025: What to look forward to
Retail trends for 2025
The retail industry of 2025 will be a heady blend of high technology and immersive experiences. A retail
store will become a destination to experience rather than to just shop in. Micro-level personalization will be
possible on a macro scale due to the convergence of big data, IoT, artificial intelligence, AR, VR and robotics.
Store associates will evolve into shopper advocates, responsible for the overall experience of the customer.
Best of all, technology will enable the new retail experience without interrupting it.
Shared ownership
• Using 3D printers, customers will design their own products.
• The opportunity to become co-owners of merchandise will increase.
• In-store automated manufacturing can enable instant products.
Routine purchases becoming fully automated
• Transactions, including replenishment, of low mind share products such as grocery
purchases, will become fully automated and set to each customer’s buying patterns.
• Retail personnel interaction will happen only for high-end complex products like
electronics, which will be sold in highly interactive and experiential environments.
Robots and humans work together
• Retail tasks will be clearly demarcated, wherein humans
will be accountable for increasing customer delight with
highly personalized interactions, whereas robots will
mostly be engaged in purely operational work such as
stocking shelves, fetching products, checking inventory,
checkout assistance, etc.
• Robots, though, will also be used in delighting customers
by ‘interacting’ with them through attached interfaces
such as tablets, to get to know customer preferences
better and guide them towards the right shelves, apart
from making them feel welcome through pleasant, if
minimal, conversation.
Shopping transformed from an activity into an experience
• Augmented reality experiences such as touchscreen
mirrors that let you virtually try various clothes sizes and
options will become common.
• Concept retail stores, such as House of Vans in London,
which has its own underground concrete ramp, mini ramp
and street course for avid skaters, will become more
popular.
• A set of personalized experiences that tie in to a central
theme, such as Ikea’s ‘sleepover shop’ experience provided
to winners of their Facebook contest, which included
massages, salons, and choices of mattresses, sheets and
pillows for a complete tailor-made experience, can enhance
brand perception.
07
Key playersCOMPANY COUNTRY WHAT IT DOES SOLUTIONS
SmartCow
https://www.smartcow.ai/
SmartCow builds hardware architecture that
deploys deep learning technology and
GPU-accelerated network devices for leading
practitioners of Deep Learning, Cybersecurity and
IoT, all trending technologies in the retail industry.
End-to-end solutions covering feasibility, features, set-up, integration and support.
Hardware: Processor, cameras, enclosure, rig, etc.
Software: Neural models, code integration, driver support, user interface, etc.
Maxerience
http://www.maxerience.com/
Maxerience is involved in embedded system and
visual intelligence to provide business analytics in
the consumer space. Their IPs transform standard
vision and detection algorithms to give an accuracy
improvement of 3X in dynamic environments.
Business analytics solutions in the consumer space using Visual Intelligence and
Adaptive Learning.
Technologies used include:
• Machine Learning
• Embedded Systems
• Deep Neural Networks
• Computer Vision
• Intelligent IoT
• Parallel Computing
FaceMedia
http://www.facemedia.io/
FaceMedia implements face and body
detection-based technologies to deliver solutions
for retail, digital signage, and advertising. It helps
customers analyze consumer insights and identify
key metrics about visitors of shopping malls.
• Content Player & Faceboard
• Analytics & Content Manager
• Heat maps & flows
• Automated Customer Satisfaction Score (ACSS)
DressLife
https://www.dresslife.com/
DressLife enables online shoppers to filter clothing
according to their probability of keeping and liking
the product (based on an artificial neural network).
• Size and style prediction
• Intelligent filtering
• Data analytics
• Clothing simulation
DigitalBridge
http://digitalbridge.eu/
DigitalBridge is a magical room visualization tool
that allows your customers to see what your home
decoration products look like in their room. Their
computer vision technology analyzes and generates
a 3D space to work from.
Survey, a new augmented reality (AR)-based measurement tool, enables customers
to renovate their kitchen, bathrooms and bedrooms with ease by quickly, accurately
and easily creating a floor plan of the room they want to decorate by simply walking
about the room using the app.
MapD
https://www.mapd.com/
By pairing a lightning fast, SQL-compliant GPU
database with a cutting edge visual analytics
engine, MapD allows multi-billion record datasets to
be queried and visualized in milliseconds.
• Business Intelligence
• Geospatial
• IoT
• Log Analytics
• Social Analytics
08
Key playersCOMPANY COUNTRY WHAT IT DOES SOLUTIONS
GoFindAI
http://www.gofind.ai/
GoFindAI uses Nvidia’s CUDA and GPUs to train
deep learning models on over 20 million images
from 600+ US-based ecommerce stores. Once
trained, the app’s intelligence analyzes patterns,
structures, styles and other details for
recommendations.
• AI-based image search engine for shopping and media. Features include Pay Per
Sale, easy integration, user behavior insights, stock outs monitoring, monetization
and social media.
• Anna, a virtual fashion assistant chatbot that helps you discover your latest fashion
statement, search by image or text and get instant responses on your fashion-related
queries.
Focal Systems
https://focal.systems/
Focal Systems deploys patented Computer Vision
technology via an easy-to-use tablet mounted on
shopping cart handlebars. The tablet helps in real
time out of stock detection for retailers, digital
advertising for advertisers and deal finding for
shoppers.
• Out of stock detection
• Indoor location finder
• Shelf analytics
• Auto-checkout
• Computer vision consulting
09
Key investmentsVenture investing by category Average funding by category
Source: Venture Scanner data as of September 2017
10
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