Intel-Based Solutions Help Retailers Address Inventory Management and Brand Awareness Challenges
NATIONAL RETAIL FEDERATION CONVENTION – Intel Corporation announced today that multiple new retail solutions designed to help leading retailers improve consumer engagement and inventory management are being deployed worldwide with Costa Coffee, McCormick & Company and METRO GROUP. These solutions are being showcased in Intel's booth (#1539) at the National Retail Federation (NRF) Annual Convention & Expo on Jan. 14-15 in New York.
“Retailers are facing increasing pressure to explore new ways to engage consumers across online and mobile platforms as well as in traditional storefronts while reducing inventory costs,” said Michelle Tinsley, director of Intel's Retail Solutions Division. “Intel is working with industry leaders to provide technology solutions that enable retailers to deliver fun and memorable brand experiences as well as new ways to ensure the goods customers want are immediately available.”
Increasing Satisfaction While Reducing Costs with Inventory Optimizations
Lost sales from out-of-stock merchandise and deep discounts on overstocked products are estimated to cost retailers $818 billion annually1. Intel, in collaboration with METRO GROUP, has developed a new solution that harnesses Intel-based technology to better monitor inventory and reduce costs.
METRO GROUP hypermarket REAL, a part of the fourth-largest retailer in the world, is using digital shelf labels installed on end-cap displays to increase awareness for new products with eye-catching animations and instantly change product pricing on soon-to-expire items. The shelf labels, which will be featured at a future store, contain an LCD module that can display price, product information and high-definition video. The content management system runs on an Intel® Core™ processor-based platform with Intel® Active Management Technology (Intel® AMT) that allows the retailer to automatically update pricing throughout the store and reduce costs associated with regularly updating price tags.
Creating Memorable Experiences to Increase Brand Awareness
Social media has empowered today's consumer with the ability to share opinions and experiences instantly. In fact, research shows that 61 percent of U.S. consumers rely on product reviews before making a purchase decision2. As a result, Intel is working with retailers such as McCormick & Company and Costa Coffee to develop fun and interactive experiences for consumers, in hopes of leaving a positive, lasting brand perception.
McCormick & Company, a global leader in flavor, developed an engaging intelligent in-store experience designed to educate customers on the brand and its range of flavors. The experience features five destinations including “FlavorPrint” to explore personal flavor profiles, “Guess That Spice,” a sensory experience, “Flavor Explorer” to learn about the company and history of flavors, and videos and a chef demo area. Powered by Intel Core processors, the digital experience is deployed at the McCormick World of Flavors Store in Baltimore where it consistently achieves 70-75 percent guest usage.
Additionally, the world's second-largest coffee chain, Costa Coffee, worked with Intel to develop an intelligent self-serve espresso bar that provides customers with quality espresso drinks in areas not feasible for a storefront. The Costa Express* features touchscreens and near-field communication technology for cashless payments. Using Intel® Audience Impression Metric Suite (Intel® AIM Suite), Costa Coffee is able to better understand consumer preferences anonymously and can offer the right product mix in each location. The Intel-based machines are currently deployed in 2,500 locations in the United Kingdom, with plans to expand into new markets throughout 2013.
More information on the solutions in the Intel booth is available in the NRF press kit.
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world's computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.
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* Other names and brands may be claimed as the property of others.
1 IHL, “Inventory Distortion ― Retail's $800 Billion Global
Problem,” May 2012.