TMCnet Feature
June 08, 2021

Cloudpick is Leading the Way in Transforming Retail as We Know It

The introduction of online shopping eliminated many of the frustrations that shoppers experienced in brick-and-mortar stores. Shoppers no longer waited in line, fought for parking, or walked through busy stores to search for exactly what they were looking for. Cloudpick combines the power of advanced technology similar to online shopping with brick-and-mortar retail stores to provide customers with a comfortable shopping experience without many of the traditional frustrations that keeps buyers from visiting physical stores. This advanced technology leverages artificial intelligence to offer an autonomous shopping experience for shoppers while providing advanced analytics and decision-making tools for store owners.

Leverage Artificial Intelligence for Convenient Shopping

In a traditional setting, store owners stocked shelves unsure if products will sell. They took a reactionary approach to stocking shelves when products ran out and customers wanted more. Before opening a new store, a store owner would perform marketing research that could be dependent on store location, so they would often need an exploration period where they identified peak shopping hours, seasonal sales, and the types of products for optimal revenue as customer shopping habits were observed. During this period, the store owner could experience loss in sales until they understand the local market and stock shelves with popular products.

Artificial intelligence (AI) transforms a store owner’s operation into a highly optimized brick-and-mortar store specifically stocked for the target buyer location based on real-time shopping data, store layout analysis, and product display analysis.  AI-based stores can leverage the store’s real-time data and optimize product selection. In addition, AI will provide optimal shelving locations and stocking suggestions so that the highest selling products are displayed to customers based on their shopping habits.

With AI, store owners can deliver a completely personalized shopping experience for customers to keep them coming back. A personalized shopping experience keeps customer interests and makes it more convenient for customers to find what they are looking for. AI “learns” what’s popular in the local market and makes suggestions based on past sales. It’s a decision-making tool that can improve sales and streamline the shopping experience for customers.

Cloudpick integrates with IoT for a fully autonomous store without a checkout counter by enabling customers to shop in-store through a mobile application. For example, Cloudpick offers Moby Mart -- a plug-and-play pop-up store solution. Store owners can leverage it for flash sales and enables the store owner to set up a store where internet and power are available and kick off their sales within only a few days.

Go Cashier-Less and Lower Staff Costs

One of the most innovative solutions from Cloudpick is elimination of cashiers necessary in a traditional store for payments. Retail customers can now browse your store, pick up what interests them, and then they are automatically charged. Your customers no longer have to wait in line for the next available cashier, so you reduce traffic in the store and the staff costs associated with ensuring enough cashiers are available. During peak seasonal sales or high-traffic store hours, you no longer need the extra staff to handle physical traffic and sales in the store.

Since store owners no longer need cashiers, the retail operation can stay open for longer hours increasing sales and providing a shopping experience to customers who stay active during a time when most retailers are closed. This convenience also lowers traffic during peak hours since more customers can browse products at their own convenience rather than rush to find a time to visit the store when it’s open.

Advanced technology offers a frictionless store experience for customers where they can just grab and go, receive the receipt in second, and receive a personalized shopping experience. Without the cost of staff and improving traffic flow, store owners receive an optimized store operation and sales.

Increasing Operational Efficiency with AI and Analytics

Analytics boost sales in numerous ways and in several markets. Cloudpick brings advanced analytics directly to the store owner’s operations dashboard. With Cloudpick’s analytics dashboard, store owners can review the latest sales information, identify popular products, and find the best physical locations for displaying ads and sales information to shoppers.

One primary aspect that makes AI beneficial for any industry is its decision-making capabilities. Instead of traditional ways of stocking shelves for seasonal sales, store owners have the benefit of AI that will identify common products and make suggestions to store owners so that they can order stock and ensure that the number of items is enough to supply customer requests but not create overstock to where ordered products won’t sell.

With AI-based stores, store owners can transform their retail space and give their stores a competitive edge over local and online stores. Cloudpick deploys this solution quickly so that your store can improve customer experiences increasing Operational Efficiency and lower staff costs. In just a few months, your store will see measurable improvements in both operational efficiency and customer satisfaction.

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