Technology is being introduced to change the way people shop.
Intel’s CEO, Brian Krzanich, announced on Monday a way for companies to collect data on shoppers visiting their stores in real time. Called the Intel Responsive Retail Platform, the new program allows for companies to understand how people interact with their stores. Intel plans to invest $100 million with into their new platform with the company’s goal to integrate every part of a retail company’s operations.
How does Intel Responsive Retail Platform work?
Intel Responsive Retail Platform works by collecting data based on digital and physical objects in the store. Ultimately, with Intel’s platform it will allow for a company to strategically place items people want to see in areas that will increase revenue for the retail store. In addition, it can track inventory and other information and share it directly with other parts of the company. Moreover, the platform can keep track of items, what clothes are being tried on the dressing rooms, and keep track of which products are not in their correct location.
Furthermore, the Responsive Retail Platform will integrate Intel-based retail sensors, with the company’s technology and finally their Intel cloud service to deliver real-time retail insights.
“With technology like robots and artificial intelligence to free up employees, every aspect of the store and supply chain will allow retail employees to better focus on the customer and improve the store’s performance,” Krzanich explains. “We’re developing technologies that will help transform the shopping experience in the near future,” Krzanich added.
More and more companies are focusing on data related shopping experiences. Last year, Snap Inc acquired Cinimagine, an augmented reality company that allows for people to see a virtual image of a product in a specific location in real time.
Most notably, Amazon announced a new shopping experience called Amazon Go. The data focused shopping experience would allow for people to purchase objects from an Amazon store without ever pulling out their wallet as the stores are cashier-less.