How Robots Can Contribute to Retail
Retail Tech Insights | Thursday, June 24, 2021
Retail robots promise to relieve workers of routine tasks, allowing humans to spend more time interacting with customers.
FREMONT, CA: Retailers start a comprehensive IoT solution with robots in stores. Retail robots' real benefit is the opportunity to acquire more linear product data on shelves and customer buying patterns, which can increase efficiency and accuracy in inventory management. The key is to use retail robots as data-collectors within an internet-of-things (IoT), a best-considered complex network of connected devices, objects, and sensors that collect voluminous data analysed in the cloud or edge computing, using nearby servers to reduce latency. From manufacturing to transport, IoT creates a smart digital ecosystem. Combined with advanced AI and machine learning capabilities, IoT helps accelerate the Fourth Industrial Revolution promises to change people's way of living, working, doing business, and buying the goods and services they want.
Below are a few good retail robots' benefits.
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The Top of the Marketing Funnel: Data Collection
Robots wander stores collect data at the "top of the funnel" by observing what is not on the shelves. Their continuous scans provide a more comprehensive view of the retail experiences of their customers. For instance, shelf inventories reveal what products are in plentiful supply, what products are running low on supply, and what products are out-of-stock — all of which indicate consumer preferences and behaviour.
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IoT to improve other industries
Advance detection of low and out-of-stock inventories can also improve efficiency and customer experience in other industries such as air travel. For example, unexpected aircraft maintenance can delay flights due to the sudden need to repair and fail the required part or component. Using an IoT approach to aircraft maintenance would mean better inventory management of parts and other supplies and, potentially, the ability of aircraft to signal a need for repair or replacement before the plane is taken out of service. Applications from manufacturing to water systems are explored with sensors and AI for predictive modelling and maintenance. Robotics has made inroads into numerous industries for years, from automotive assembly to robotic arms lifting heavy items in warehouses. Robots carry some hotel luggage and act as digital concierges. Additionally, robots have rolled into hospitals with non-operational applications such as sanitising corridors and rooms and delivering supplies, including blood samples for laboratory testing. Autonomous robotic cleaners also enter commercial spaces, from office to airports.
Reconsidering Retail
Retail innovators also rethought brick-and-mortar to showcase products and allow consumers to experience new offers. The latest step towards more incredible innovation is propelling retailers into IoT to improve inventory management and predictive modelling. As product cycles accelerate, retailers will need to become even more agile in identifying microtrends in consumer behaviour to produce, distribute, and deliver the goods and services that customers now want. A robot can very easily roam freely, bringing data from the consumer touchpoint in the store aisle into the cloud data management system.
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