AI-Powered Autonomous Stores | Revolutionizing Retail Efficiency  

Why Retailers should go for AI-powered Autonomous Stores?

Digit7

As the market trends evolve, retailers are facing numerous challenges in the form of long checkout lines, reduce labor costs, theft or shoplifting, stockouts, etc., and most of the time the customers leave the store dissatisfied because of these inconveniences. 

To address these issues, retailers are turning to artificial intelligence (AI) solutions like autonomous checkout (also known as grab-and-go, cashier-free, or checkout-free stores), smart virtual carts, and scan-and-go, also known as self-checkout systems. 

The cutting-edge AI technologies used in autonomous stores offer several benefits for retailers. Here’s why retailers should go for an autonomous store solution to combat operational efficiency and customer satisfaction: 

Innovation meets Convenience 

Autonomous stores represent a significant innovation in the retail industry, blending the convenience of in-store shopping with the physical experience of interacting with products. These stores allow customers to select items from shelves, place them in their bags, and exit without traditional checkout processes, or even to mention no checkout. The integration of technology like computer vision, machine learning algorithms, sensor fusion, cameras, smart shelves, real-time edge analytics, robots, and blended reality enhances customer experiences by offering hyper-personalized services and real-time assistance based on individual shoppers needs. 

Benefits of Autonomous Stores 
  • Enhanced Customer Experience: Autonomous stores eliminate interaction-level pain points by streamlining the shopping process. Customers can quickly find what they need without long queues or scanning items at checkout. 
  • Operational Efficiency: These stores leverage AI-driven technologies to automate tasks, gather customer data, and provide personalized product recommendations. Virtual assistants can act as personal advisers, helping customers make informed decisions tailored to their preferences and budgets. 
  • Future of Retail: As consumer preferences shift towards personalized and convenient shopping experiences, autonomous stores offer a glimpse into the future of retail. By combining physical interactions with digital convenience, these innovative stores cater to evolving customer demands and market trends. 
Say Goodbye to Waiting Lines 

Long retail checkout lines are a major pain point for shoppers. According to a survey, Americans spend approximately 38 hours waiting in line each year, and many abandon their purchases and leave the store after spending more than five minutes in line.  

Long lines create congestion in stores, divert employees from helping on the floor, and leave a bad first impression on arriving shoppers. This causes retailers to lose billions of dollars in potential sales. By streamlining and accelerating the checkout experience with AI-powered solutions, retailers can improve customer satisfaction and reduce potential sales losses.   

Labor costs? Say no more! 

Labor costs is a significant problem for retailers. Post-pandemic, around 7.8 million people quit their retail jobs. Each year, this number increases significantly. Cashiers account for about 28% of store staff, so innovative retailers are addressing labor costs by embracing automation and cashier-less solutions like autonomous checkout stores. With Cashier-free checkouts, the autonomous store can be operated 24/7, resulting in increased sales and revenue. 

Loss Prevention 

Retail isn’t new to the problem of long lines and theft. While 80% of shoppers are interested in non-traditional checkout experiences, some checkout systems pose risks of theft when they do barcode scanning at self-checkouts. Retailers experience shoplifters in stores even with cameras installed, as they can’t monitor all nooks and corners, leading to an average loss of 7%. AI can help prevent theft by removing shoppers’ anonymity and capturing purchase information using behavior analysis, computer vision, cameras, or RFID technology. 

All about Time 

Time is money for retailers. Industry leaders like Amazon, Kroger, etc. are already testing autonomous checkout solutions. Retailers that invest in these technologies will be better positioned to compete in today’s marketplace. 

Updates Stock Availability on the Go 

One of the key features of autonomous stores is real-time updating of product availability after each purchase. The smart shelves update the virtual kart whenever a product or item is taken from the shelves, and once the shopper leaves the store, the machine learning and deep learning algorithms will update the stock availability in real time. With this smart technology, retailers can track stock availability and minimize out-of-stock or overstocked inventory situations, thereby enhancing operational efficiency and smooth customer experiences. 

At Digit7, we have developed DigitMart, an AI-powered Autonomous Store Solution for cashier-free checkouts. DigitMart store allows shoppers to shop autonomously without employee intervention; Shopper tap their credit card, enter the store, grab the products from the shelves, and walk out of the store. The main advantage of DigitMart is that it is retrofittable on any existing stores with minimal business disruptions and maximum revenue, and the store can be operated 24/7 without an employee for checkouts. 

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