CHARLOTTE, N.C. - October 30, 2020 - (Newswire.com)
Recently, Vincent Lou, Chief Technology Officer of SandStar, was invited to the Innovator @ the Edge AI Tech Talk of Intel to introduce SandStar's AI+retail technologies, as well as the company's Smart Kiosks, to an audience that includes Intel employees around the world and its industry partners.
Since officially becoming a qualified Intel® IoT Market Ready Solutions (Intel IMRS) partner in May this year, SandStar has been collaborating closely with Intel. By talking online at the Innovator @ the Edge AI Tech Talk of Intel, Lou was able to take advantage of Intel's resources across the globe to attract a lot of attention to SandStar's products and to lay a solid foundation for SandStar to continue to expand globally.
Since it was founded in 2016, SandStar has been focusing on smart operations in retail settings. All three lines of its product are based on computer vision as the key technology, to help brands and store operators reduce costs and increase efficiency:
- The "grab-and-go" AI Smart Kiosks
- Smart store analytics "enabling offline stores to operate digitally like e-commerce"
- Unmanned stores costing only 1/20 of Amazon Go
The three products have been used in 12 countries and regions around the globe, providing artificial intelligence for 20+ Fortune 500 companies including Wanda, Sinopec, and Coca-Cola in retail settings. Apart from the all-new convenient shopping experience for consumers enabled by new technologies, retailers place an even higher premium on the tremendous business value of digital operations.
The company's smart vending machines, for example, can help to reduce the restocking cost by 40% for brands, compared to traditional vending machines. Meanwhile, the data collection and analysis functions of the smart vending machines can help suppliers optimize various business strategies regarding offerings, prices, displays, and so on, so as to increase sales by 30%.
And the smart store analytics solution is able to directly convert the data collected and processed into a store's key productivity. When it comes to application scenarios, gas stations, convenience stores, and hotel lobbies are all offline scenarios that can really benefit from the smart store analytics solution for empowerment.
In a convenience store, for example, after the smart store analytics solution is deployed, the cameras will be able to collect data about the people, goods and environment within the store in real-time to build a sales funnel conversion model.
The data about the foot traffic at the entrance to the store as well as the features of customers in the store, such as their movement, their length of stay, their actions of taking items from shelves and putting them back, and their time spent on lining up for checkout can help depict a clearer picture for customers;
The data about the heat of merchandise, the number of times each item is taken, and the heat of different areas can help to optimize offering strategy, pricing strategy and shelf display strategy, and to intelligently predict supply and sales;
Similarly, the data about clerk efficiency, their time spent in the warehouse, and whether they have smiled when serving customers can also be collected,for store operators to further optimize their employee management and service practices.
Based on the data collected, suppliers can have a better understanding of their consumers including their preferences and behavioral habits, which can be used to inform marketing activities.
When it comes to precision marketing, for example, in the deployment plan for a Coca-Cola souvenirs shop in Shanghai, SandStar adopts a "customized push advertising" model, which helps the shop realize customized push advertising based on the identification of people's attributes, behaviors and moods. When a lady enters the shop, the ads about the latest clothes will appear on the screen; when a foreigner enters the shop, the ads will be in English...This model will dramatically help to attract visitors and increase the conversion rate.
SandStar is committed to empowering businesses with AI. The company's AI+Retail products and solutions can effectively help businesses increase efficiency, reduce costs and improve profitability. For more detail, please visit our website: www.sandstar.com
Media Contact: Celine
Email: marketing@sandstar.com
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Original Source: Vincent Lou, Chief Technology Officer of Sandstar, Was Invited to Intel: the Innovator @ The Edge AI Tech Talk
