Current challenges The biggest pain points for today’s retailers are: • Customer engagement: With foot traffic falling and online shopping options growing each day, retailers must find new ways to keep customers engaged with their brands, especially in expensive brick-and-mortar locations. • Managing human capital: In a sector where labor costs are second only to real estate, assigning and enabling sales associates cost effectively is key to profitability. • Inventory accuracy: Preventing losses from out-of-stocks and overstocks is currently estimated to cost retailers USD 1 trillion per year globally, 1 with nearly 30 percent of this due to empty shelves. 2 Retailers have an opportunity to meet their challenges by putting new data and Internet of Things (IoT) technologies to work. These can help them gain knowledge about customers and supply chains, and use that knowledge to improve operations and service, ushering in a new era of “responsive retail.” But first, they must master the data in their world. They must determine the right data to capture, gather that data, and use it to drive insights and business decisions. The Intel ® Responsive Retail Platform: One Platform, Many Solutions Retail Industry Intel® Responsive Retail Platform Real-Time Digital Insights for Amazing Customer Experiences RETAIL EVOLUTION As retail has evolved from individual brick-and-mortar stores to multiple outlets to e-commerce, retailers have had to meet new demands for supply-chain efficiency and customer knowledge. Technology has and continues to help. In the current environment of online shopping, technology enables retailers to glean customer knowledge from data about their browsing and purchasing habits. Now when consumers shop in brick- and-mortar stores, they expect the same personalized and responsive service they receive online. BUSINESS BRIEF
Transcript
Current challengesThe biggest pain points for today’s retailers are:
• Customer engagement: With foot traffic falling and online shopping options growing each day, retailers must find new ways to keep customers engaged with their brands, especially in expensive brick-and-mortar locations.
• Managing human capital: In a sector where labor costs are second only to real estate, assigning and enabling sales associates cost effectively is key to profitability.
• Inventory accuracy: Preventing losses from out-of-stocks and overstocks is currently estimated to cost retailers USD 1 trillion per year globally,1 with nearly 30 percent of this due to empty shelves.2
Retailers have an opportunity to meet their challenges by putting new data and Internet of Things (IoT) technologies to work. These can help them gain knowledge about customers and supply chains, and use that knowledge to improve operations and service, ushering in a new era of “responsive retail.” But first, they must master the data in their world. They must determine the right data to capture, gather that data, and use it to drive insights and business decisions.
The Intel® Responsive Retail Platform: One Platform, Many Solutions
Retail IndustryIntel® Responsive Retail Platform
Real-Time Digital Insights for Amazing Customer Experiences
Retail evolution As retail has evolved from individual brick-and-mortar stores to multiple outlets to e-commerce, retailers have had to meet new demands for supply-chain efficiency and customer knowledge. Technology has and continues to help. In the current environment of online shopping, technology enables retailers to glean customer knowledge from data about their browsing and purchasing habits. Now when consumers shop in brick-and-mortar stores, they expect the same personalized and responsive service they receive online.
Business Brief
Business Brief | Intel® Responsive Retail Platform
Responsive RetailShopper expectations and market realities are making responsive retail a necessity to remain competitive and retain customers. The foundation of this approach is a 360-degree connected view of the business—from supply chain, logistics, and warehouse distribution; to in-store and on-shelf inventory; to merchandising, digital signage, point of sale (POS), shopper traffic planning; and more. With that holistic view, retailers can respond more quickly to customer expectations, operational realities, and changes in the larger environment.
Intel® Responsive Retail PlatformThe Intel Responsive Retail Platform was developed by Intel and enables technologies from key partners JDA, SAP, and RetailNext. The platform provides fast, actionable data for retailers to make management decisions with confidence. It enables rapid deployment of IoT services, drives operational efficiencies from the supply chain through to the store floor, and improves inventory accuracy. This allows retailers to better respond to evolving demands, which in turn enhances the shopper experience and can increase sales.
The platform seamlessly integrates with retail analytics platforms and legacy systems, so retailers gain clarity—not data dumps—while avoiding operational disruption. It also makes it easier for the retail and technology ecosystems to create solutions that help retailers meet their business goals, and accelerate time to market for those solutions. The platform will:
• Streamline access to a variety of data
• Eliminate “islands of technology” with a unified gateway
• Simplify sensor installation and management
• Deliver near-real-time action alerts
• Fuse physical and digital retail activities
Affordable and easy to install, the Intel Responsive Retail Platform features centralized manageability and Intel® technologies for end-to-end security to connect, aggregate, filter, and share data from the edge to the cloud.
The RFID-based inventory solution is available today from selected resellers, including RetailNext. Prices will vary by vendor. Additional solutions to meet other retail challenges are coming in mid-2017.
Smart retail informed by multiple, integrated data streams.
New services that bridge online and in-store experiences.
Deep insight from near-real-time and historical customer data.
One platform with 360-degree vision. Amazing insights and customer experiences.
INTEL®- BASED GATEWAY
INTEL® RESPONSIVE RETAIL SENSOR
SIMPLIFY SENSOR MANAGEMENT
ELIMINATE ISLANDS OF TECHNOLOGY WITH A UNIFIED
GATEWAY
FUSE DIGITAL AND PHYSICAL
RETAIL
DELIVER NEAR-REAL-TIME ACTION ALERTS
DEEP INSIGHT FROM TREND AND HISTORICAL DATA
intel® Responsive Retail platfoRm
2
Business Brief | Intel® Responsive Retail Platform
“JDA recognizes that with the Intel® Responsive Retail Platform they can transform previously disconnected data streams into dynamic merchandising tasks for store associates and improve inventory management to increase customer satisfaction.”
Wayne Usie SVP of Global Industry Strategy & Value Delivery, JDA
JDA is a leader in retail planning and workforce management solutions.
“SAP sees the value in unifying the capabilities of the Intel® Responsive Retail Platform with Hana* to build custom enterprise applications to optimize the needs of retailers.”
Lori Mitchell-Keller Global General Manager, Consumer Industries, SAP
SAP is a leader in enterprise application software.
“By marrying together data sets on the movement of both shopper and merchandise, RetailNext will now take our shopper analytics tools to the next level of digital integration within brick-and-mortar retail environments, unlocking previously inaccessible digital insights.”
Alexei Agratchev CEO & Cofounder, RetailNext
RetailNext is a pioneer in integrated retail analytics platforms.
RetailNextComprehensive In-Store Analytics
Creating a flexible solutionThe Intel Responsive Retail Platform was designed to consolidate disparate islands of technology across the store (video, RFID, Wi-Fi, BLE, etc.) into a common platform that can identify required local and enterprise actions and automatically trigger alerts for those actions. Intel is making the APIs widely available to sensor vendors and system integrators to streamline the collection of sensor data and make it readily accessible to a wide variety of third-party analytic solutions.
Intel developed the platform, drawing on the expertise of JDA, SAP, and RetailNext in providing customized solutions for retail clients to better understand the types of data retailers across all segments need to track.
Learn MoreExplore the Intel® Responsive Retail Platform and other Intel® technologies for retail at intel.com/retail.
