Monoprix Uses AI-Powered Tech to Help Customers Pay for Products
Laura McQuarrie — October 16, 2020 — Business
References: nfcw
After months of closures, retail stores are adopting a mix of both high-tech and low-tech solutions that help to minimize contact between shoppers and staff, which is making everything from contactless pickup lockers to autonomous self-service stores more common. French retail chain Monoprix is trying out the latter with a 24-hour store that stocks hundreds of snacks and hygiene products. Consumers can gain entry to the store by scanning their credit card and once inside, the store uses AI-based product recognition technology to simplify the process of selecting and paying for goods.
The unique format of the store helps shoppers avoid having to end their in-store trip at a cashier station, and guests only need to validate their baskets to make their exit.
Image Credit: Monoprix
The unique format of the store helps shoppers avoid having to end their in-store trip at a cashier station, and guests only need to validate their baskets to make their exit.
Image Credit: Monoprix
Trend Themes
1. Contactless Payment - Disruptive innovation opportunity: Develop AI-powered contactless payment systems for retail stores to simplify the process of selecting and paying for goods.
2. Autonomous Retail - Disruptive innovation opportunity: Create autonomous self-service stores that use AI-based product recognition technology to provide a seamless shopping experience.
3. High-tech Retail Solutions - Disruptive innovation opportunity: Explore the implementation of high-tech solutions like contactless pickup lockers to enhance the retail experience and minimize contact between shoppers and staff.
Industry Implications
1. Retail Technology - Disruptive innovation opportunity: Develop advanced retail technologies and solutions, such as AI-powered product recognition systems, to transform the retail industry.
2. Payment Solutions - Disruptive innovation opportunity: Build innovative contactless payment solutions for retail stores to offer convenience, security, and efficiency to customers.
3. Autonomous Systems - Disruptive innovation opportunity: Invest in autonomous systems and technologies to revolutionize the retail industry by introducing self-service stores and automated processes.
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