NRF: Retail’s Big Show is one of the most highly anticipated events in the retail industry, uniting the brightest minds in technology and innovation from around the world. This year, Vista Technology Support had the privilege of attending once again, allowing us to dive into ground-breaking innovations, connect with industry leaders, engage with disruptive tech pioneers, and uncover the future game changers set to redefine the retail and hospitality landscapes.
From AI-powered solutions to the next wave of immersive customer experiences, the show offered us a glimpse into the future of these industries. The cutting-edge technology on display promises to revolutionise the industry, and it’s exciting to see how these advancements will propel the industry forward.
In this article, we’ll share our key takeaways, insights, and recommendations from the show, so you can stay ahead of the curve and leverage the latest innovations to elevate your strategies.
The Rise of Generative in Retail AI
Generative AI was a trend you couldn’t escape at this year’s expo, and it’s quickly becoming a game-changer for the retail and hospitality sectors, offering businesses innovative ways to improve operational efficiency, elevate customer experiences, and bolster loss prevention efforts.
In these sectors, managing large-scale operations efficiently can be a challenge. Generative AI is helping businesses automate routine tasks such as inventory management, staff scheduling, and demand forecasting. By analysing historical data, AI algorithms can predict sales trends, optimise stock levels, and better understand consumer behaviours.
We saw a great example of this type of AI being used by Target, who have teamed up with Zebra Technologies, using their latest product, built in collaboration with and Qualcomm, providing retail and hospitality stores with a GenAI open-source model on its handheld devices. We were particularly impressed with how the hand held device was able to use computer vision, machine learning and Google Gemini chat, as well as EDGE technology to keep cloud storage and interactions to a minimum.
Read more about their exciting development here, and how it’s being used to enhance in-store operations.
AI Powered Loss Prevention
Loss prevention, both in terms of theft and operational inefficiency, is a major concern for businesses in retail and hospitality. So, what is the solution?
We are now seeing Generative AI integrate with smart cameras and sensors to monitor inventory in real-time, flagging discrepancies between physical stock and sales records, as well as recognising suspicious behaviour and notifying staff in real-time.
Fujitsu showcased how they’re using Human Motion Analytics to analyse human behaviours in stores. This technology combines high-definition image analysis, and AI technology to analyse and visualise the skeletal motion of humans. The platform supports the systemisation of human movement measurement and detection in multiple fields, based on high-precision skeletal recognition – offering an extra, more informed layer of in-store security.
Similarly, AI can track unusual transaction patterns at point-of-sale terminals, helping to identify and mitigate theft. A new and exciting product showcased by Bizerba showed how efficient retail loss prevention combined with self-checkout systems can help businesses reduce theft while improving the customer experience. Their Supersmart S3 Scan & Go Loss Prevention System
AI Computer Vision and Machine Learning Leverages Existing CCTV Systems
As well as being able to enhance security and mitigate loss, industry leaders are leveraging legacy CCTV systems integrated with AI to gain real-time consumer data insights to benefit both them and the customer. This was a key theme at the show and multiple vendors had various versions of the technology on show. These tools are being used to identify best-selling products, understand shopper demographics, and address operational challenges.
We witnessed first hand how MeldCX, with their impressive Viana™ application, powered by Intel, utilises AI-powered CCTV to track valuable data such as retail footfall, the time it takes to prepare specific drinks at a coffee shop and which aisles are less frequented by customers.
In a similar vein, the anonymous crowd/occupancy management software demonstrated how legacy CCTV cameras can be repurposed to perform a wide range of Business Data functions and insights. These insights can inform businesses of where products are more or less profitable based on the effort or time spent by colleagues in store preparing products – specialist coffees were used as a specific example for this case. The technology also demonstrated how the customer journey can be improved and help inform future proofing.
In conclusion, the growing buzz around generative AI in the retail and hospitality sectors is a clear indication that we’re on the cusp of a transformation. As we’ve seen, AI’s potential to enhance customer experiences, streamline operations, and drive innovation is unparalleled. Generative AI is poised to shape the future of how we shop, dine, and interact with brands. With the pace of development accelerating, it’s certain that the next generation of shopping will be significantly influenced by these technologies, offering both businesses and consumers exciting new possibilities. The future is bright, and it’s AI-powered.
However, it is still important that businesses conduct thorough research before following the trends. As AI continues to gain traction as a buzzword within the industry, it is essential for businesses to have a clear understanding of their objectives and how this technology can best serve their specific needs.
We’ll be taking a deeper dive into each of these topics and more recommendations we have over the coming weeks, so keep up to date on our social media and website for more updates:
If you would like to chat to us about how you can get these products in your stores, or find out what solutions you may need, contact one of our experts today for a consultation: sales@vistasupport.com
Read more of our expert insights here: Insights – Vista Technology Support