Three insights of future retail management technology from Euroshop 2023

The 3 years of the pandemic is challenging for Chinese company go global as we can only showcase our products online. But it is also an opportunity because we had enough time to hear from our client’s needs and perfect our solutions. Euroshop 2023 is the first big event for us aboard and we were so excited to exchange innovative ideas about OP Retails’ retail technologies and recent retail industry trends we perceived with professionals from all over the world.

 

For the debut of OP Retail in Euroshop 2023, the result is satisfactory. During the 5 days of the event, we had over 500 visitors (Including exhibitors) from 58 countries, the discussion helped us to know more about the needs of European chain-store owners and valuable insights into retail store digitization.

Here are the 3 trends of the retail store’s digital transformation we learned in Euroshop 2023: 

1. People counting will be more than just counting numbers
2. AI technology makes retail stores more intelligent
3. Paperless is the key

 

1. People counting is more than just counting numbers 

Keeping track of the number of people entering and exiting your business used to be time-consuming and relied on staff to count manually. Now many stores have applied people counters to do the job with high efficiency and accuracy effortlessly. But it is not enough to just get the number, the interpretation of the meaning behind it is what would really benefit the retailers. A capable people-counting solution should contain the following features:

• Accurate data: The people counting solution should use advanced sensors and algorithms to provide highly accurate data on foot traffic.
• Real-time monitoring: Keep track of customer behavior in real-time, allowing the executive to make informed decisions about staffing and promotions.
• Data analysis: A powerful data analytic tool is essential, for connecting dots of daily shop activities like in-store promotions, customer demographics, weather, dates, etc. A well-designed data analytic tool can allow shop owners to identify trends and patterns in customer behavior.
• Customizable settings: Shops have different needs and focus during different periods. So the settings of the people counting software should be easily adjustable to meet the unique needs of businesses.
• Easy installation: The smaller unit the better for easy installation so it can be up and running in just a few minutes.
• Data privacy: The data should be anonymized, which means that personal information is never collected or stored. Also, All data transmitted should be encrypted to prevent unauthorized access.

Whether it is looking to optimize staffing, improve customer flow, or track customer behavior. A meticulously designed people counting now is an important tool for store owners.

 

 

2. AI technology makes retail stores more intelligent

AI is developed rapidly in recent years, In fact, there are already many applications, like AI+Medical, AI+traffic, AI+manufacturing, etc. For the retail industry, the AI application is also gradually working on perfection to tackle common retail difficulties and fulfill the needs of store management scenarios. By integrating AI technology into retail stores, automated detection of standard store scenes can be achieved. From discovering problems to recording them, to issuing early warnings and conducting rectification checks, the cost of repetitive work inspections has been greatly reduced. In the era of increasing labor costs, AI technology can effectively release enterprise management manpower and improve management efficiency dramatically.

The following list is some AI applications in the retail industry:

• Abnormal Transaction: Detect any abnormal order by synchronizing every POS data with real-time footage.
• Standard Attire Check: AI detection of employee dress standards to help build a high-quality brand image.
• Shelf Check: Monitor shelf display in real-time to solve the problem of shelf product shortage and misplacement.
• Sundries Detection: Monitor sundries in stores, Keep the tidiness of aisles for a good brand image
• Behavioral Check: Identify employees’ “non-work” behaviors, increase their service quality, and enhance brand image.
• Rat Detection: 7*24h track rats’ position, locate ratholes, and eliminate hygiene risks.
• Standardize Service: Ensure employees follow the standard service procedure when treating customers. Automatically evaluate staff service to improve service quality.
• Product Recognition: Identify products in pictures/videos, and automatically acquire product names, specifications, and other information.

 

3. Paperless is the key

In the face of the global energy crisis, sustainable development has become one of the important topics at this year’s exhibition, and major retail enterprises are transitioning towards energy-saving green production, and services. In-store management and intelligent store inspection systems are also helping enterprises achieve green and efficient operations and management.

For example, the store inspection system can replace traditional offline paper-based store inspection methods. Enterprises can import store management standards into the system, and managers can conduct store inspections either remotely online or on-site offline. All store inspection processes can be fully paperless through mobile phones or computers, and store inspection traces are fully traceable with store inspection data being generated into a digital report with just one click.

About OP Retail

OP Retail (Suzhou) Technology Co., Ltd, headquartered in Suzhou, China, offers quality products mainly for retail stores, providing technical solutions for visitor analysis, customer behavior insights, store operation analysis, and more. OP Retail’s solutions are based on the principles of usability, high security, and flexible scalability. For more information, please visit our website or send us inquiries for details.