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Empowering choice in retail

Innovation and inspiration to kick start your week


PERSONAL PRESCRIPTION
A new pharmacy in Belgium ditches the whitewash to create a warmer, more inviting, open plan space that encourages customers to linger and removes the traditional “barrier” between customers and the pharmacist. Instead, a central counter allows people to flow freely and interact with products on display. Products not on display are stored in a discrete cabinet and can be accessed through an automated dispensing system, giving staff more time to focus on serving the customer.
Household takeout: Free circulation around the store allows customers to focus on finding what’s right for them. Relevant tech makes it quicker for staff to serve the right product and focus on consultation instead of transactions.

DOING THE SHOPPING FOR YOU
Artfinder is an online art marketplace that provides recommendations with a difference. Instead of consulting an art specialist before a prospective purchase, instead you ask Emma, an AI Twitter bot. If you tweet Emma a picture she will respond with 4 suggested art pieces that reflect similar colours, composition and mood. These artworks link to the Artfinder site which has over 300,000 works for sale including many unrepresented artists. The site also uses data such as artwork size and medium to suggest sweet price points for artists.
Household takeout: Build customer relationships through your brand app – it can be used to direct sell products to customers and powered by AI can make ever smarter purchase recommendations. Retailers can additionally benefit from sales data gathered to understand purchasing trends and shift stock faster.

TAKING STOCK
$1.75 trillion is the yearly cost to retailers for poor stock management. (IHL, 2016)
Levi’s are building on their partnership with Intel, introducing their new ‘Responsive Retail Platform’. This addresses the two main barriers for customers who intended to purchase: of ‘out of stock’ and ‘couldn’t find my item’. The system combines retail hardware, software and sensors with a goal of facilitating real-time, all-the-time inventory insights. One of the key benefits of this is earlier and more accurate sales floor replenishments which increases the likelihood of customers finding an item in the correct size and colour, in the correct location of the store.
Household takeout: The importance of in-store stock availability has heated up, as customers can easily buy from the competition in a click. More efficient, tech-powered stock management also allows staff to be freed up and engage with customers on the shop floor to convert sales.

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