Gaining the competitive edge in retail with AIoT technology

January 18, 2024 07:50 PM AEDT | By Cision

Google News:

Gaining the competitive edge in retail with AIoT technology — Image source: Kalkine Media

Recent News

TTC Global and ACCELQ Join Forces to Transform AI-Powered Test Automat...

Teva’s 2024 Healthy Future Report Highlights Sustainability Progress,...

Airbnb expands offerings with new services, experiences, and redesigne...

Bath & Body Works Recognized for Donation Partnership With Good360

HANGZHOU, China, Jan. 18, 2024 /PRNewswire/ -- Retailers are under constant pressure to outperform their competition. In order to differentiate themselves, retailers must prioritize superior customer service, efficient operations, and a personalized touch. By harnessing the combined power of Artificial Intelligence (AI) and the Internet of Things (IoT) - known as AIoT - retailers can overcome these challenges. Hikvision and Retail Customer Experience have collaborated to release a comprehensive white paper that explains how AIoT technology can help retailers stay ahead.

Gaining the competitive edge in retail with AIoT technology

This technology fusion brings about intelligent video systems that provide actionable insights, leading to boosted efficiency and improved customer experiences. With the use of high-definition cameras and AI analytics, features like remote inspection and business intelligence become available, fine-tuning the shopping environment to meet consumer demands.

Remote audit solutions to streamline efficiency
Powered by AIoT video technology, remote audit solutions are streamlining how retail operations are managed. These solutions enable remote store inspections using CCTV, standardize procedures, and ensure adherence to company standards across branches. They present a cost-efficient alternative to physical audits, bringing down annual costs significantly.

Upgrading customer experience with business intelligence
Smart video solutions, powered by AIoT, offer valuable tools for analyzing in-store traffic patterns and effectively managing queues, thus enhancing the overall shopping experience. These insights also assist in making informed decisions regarding merchandising, staffing, and floor planning.

Improving parking experience and efficiency
By implementing automatic license plate recognition and efficient parking guidance systems, smart video solutions can alleviate driver stress and reduce operating costs for businesses. Moreover, these systems improve parking lot turnover rates, resulting in a smoother overall experience for customers.

Download the white paper to discover more

AIoT stands out for its advanced analytics capabilities, allowing for more accurate insights, enabling intelligent and efficient decision-making, automating repetitive tasks, and enhancing customer service. Download the full white paper to discover how AIoT video technology can elevate retail operational efficiency.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.