Last week we wrapped up the 2016 National Retail Federation Conf. The Intel booth was packed through the final minutes of the show. It was a great oportunity to share with so many the solutions based on Intel. Many retailers often ask why is Intel here – don’t you sell processors for PCs? I love the opportunity to share with others just how diverse Intel is and our ability to influence markets, industries and ecosystems. Below are the two blogs i wrote while at NRF...
First Day NRF Highlights from Intel Retail
The National Retail Federation Conf. (NRF) is about collaboration, innovation and differentiation – where technology solutions meet retailer business challenges. The Intel booth showcased solutions available today, those for tomorrow and those for 2-3 years down the road.
Here is my quick rundown on a few solutions being featured in the Intel booth at NRF. For more detailed review check this out.
Intel has been working Levis to enable a near real-time inventory tracking monitoring solution. This solution relies on cost effective gateways and RFID labels. Sato America has partnered with Intel and Levis on this project and can deliver the solution to other apparel retailers. The solution enables more than just inventory management. It can also deliver edge analytics to the store manager, showing which items are most often moved to the dressing room, which get purchased and which get returned to the shelf. Thus it can improve upon on assortment, identifying those items that sell well and those that don’t. It can also spot trends which can in turn improve upon in-store displays.
Out-stocks represent a huge opportunity for retailers and suppliers. By one account, I have heard out-stocks for chips and snacks can be more than $1B in lost revenue per year. That is serious money and it is for just one supplier. This gets compounded when you consider time spent on merchandising compliance, items stocked in the wrong section or shrinkage. T-Ink has figured out a way to solve this problem through an innovative process of smart ink printing process. In short the solution can be used on consumer packaging, shelf pegs and shelf liners.
Ultimately delivering improved inventory management solutions throughout the store.
Future Food District COOP from Milan Italy featuring the connected supermarket. This was an excellent collaboration between Accenture, Microsoft, Avanade, Carlo Ratti Association and Intel. The demo showcases possibilities of how to better engage customers as they shop in an open-air market with the assistance of digital solutions. The objective is to engage the shopper, to provide information on products they are selecting or on those that might pair well for entire meal as well as offer up recipes. The benefit to a retailer is; customer loyalty, cross-selling & product recommendations to name a few. And while this concept was featured for a grocery store focused implementation it is not hard to see how this could be applied to apparel, home ware or hardware or numerous other retail environments.
This being my last dispatch from NRF, I wanted to highlight the solutions which may help you better understand Intel beyond just providing chips.
We all understand the shopper journey has forever changed, due to the everyday use of a smartphone. This results an increased pressure for the retailer to deliver a unified cross-channel shopping experience. The consumer decision journey is a constant bounce back and forth between digital-virtual sources of information and the brick and mortar stores. It is the retailer who comprehends this opportunity that can differentiate from competitors.
Retailers who are able to analyze customer, online and store data are better prepared to offer a unique shopping experience. One that can truly bridge the shoppers’ journey from sofa-to-store front. Through the use of analytics, retailers are better able to predict the next logical product the consumer will purchase. This recommendation capabilities is common for online shopping experience. However, not as common on the store floor. Well Intel has worked with Cloudera and Big Cloud Analytics to help retailers to accomplish a more thorough understanding of their customers.
Another major theme from the Intel booth was offering a more engaged shopper experience. Both Brooks Brothers and Nordstroms know their customers have high expectations of their shopping experience. As a result, both of these retailers are constantly looking for ways to simplify the shopping experience while at the same time making it more engaging. For Brooks Brothers their customers want the right fit on a custom-tailored suit. This process can be extremely time intensive in order to assure the measurements are done correctly. The same can be said for shoe measurement. The process by which customers get their foot measured hasn’t changed in nearly 100 yrs. During the Half-Yearly sale this can lead to lost sale opportunities and chaos on the store floor. Through the use of a 3-D digital foot measurement process, the customer’s foot is measured in seconds. In return the sales associate is better informed about which shoes will be a better fit for the customer.
In all of these cases Intel provides the technology, engagement with solution provider and the ability to demonstrate for the retailer how it solves particular business challenges. Intel has a thorough understanding and commitment to the Retail, Hospitality and Consumer Goods Industry. We have a dedicated focus on helping retailers to; increase traffic, drive conversion, increase basket size and drive customer loyalty.
We would be happy to have a discussion with you and figure out how Intel can help address your business challenges.
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