If autonomous checkout systems ever go mainstream, it will be because retailers finally figured out how to effectively harness in-store cameras to determine where customers are and what items they’re holding in real-time. Reaching that goal has proven elusive to AI technology providers thus far, but a San Francisco-based startup called Standard Cognition is hoping that its recent acquisition of Explorer.ai, a mapping and computer vision firm, will be the catalyst that’s necessary to accelerate growth and expand into new retail verticals.
Mike Boland: The innovation including and surrounding cashierless checkout goes beyond payments to affect a broader set of functions like supply chain, inventory management, and store layouts. It’s like a retail toolkit in a box, with cash-flow friendly pricing, à la SaaS. You may have heard of it: It’s called retail as a service (RaaS), and it could transform the next decade of retail. Amazon will lead the way.
Standard Cognition offers a product called Standard Checkout that retrofits cashier-based grocery stores into cashierless systems. Unlike the new cashierless Amazon Go, Standard Cognition is not a grocery chain itself, but instead a solution for chains that compete with Amazon Go, co-founder and COO Michael Suswal told Street Fight.
This Week in Location Based Marketing is a weekly video podcast from the Location Based Marketing Association with Asif Khan, Rob Woodbridge & Aubriana Lopez. On the show: Kroger, Yext + Duda, eyeQ launches Atom Research: Gasbuddy.
Online retailers like Warby Parker and Bonobos have been experimenting for years with pop-up stores and actual brick-and-mortar locations. This phenomenon was the subject of a recent study conducted by ChargeItSpot, which provides cell phone charging stations for retailers and events.
This Week in Location Based Marketing is a weekly video podcast from the Location Based Marketing Association with Asif Khan and Aubriana Lopez. On the show: Ashley Furniture, Google’s Winter Wonderland, Gimbal / Mobile Majority, Mall of America, and Shelfbucks.
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