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11 views23 pages

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pannalatejaswireddy
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Seminar Topic on-

SMART
RETAIL
Presented by: KAVATI SANGEETHA
21X31A6629
CSE(AI&ML)
CONTENTS
1.Introduction To Smart Retail
2.Need Of Smart Retail
3.Existing System Of Smart Retail
4.Proposed System Of Smart Retail
5.Working Of Smart Retail
6.Architecture Of Smart Retail
7.Benefits Of Smart Retail
8.Technologies Used In Smart Retail
9.Advantages Of Smart Retail
10.Disadvantages Of Smart Retail
11.Applications Of Smart Retail
12.Future Trends In Smart Retail
13.Conclusion
14.Reference
INTRODUCTION TO
SMART RETAIL
• Smart retail leverages advanced
technologies like IOT, AI, and data
analytics to enhance the shopping
experience, optimize operations,
and improve decision-making in
retail environments.

• AI & ML(Artifical Intelligence &


Machine Learning):Personalized
recommendations,demand
forecasting and automated
customer support.

• IOT(Internet of Things):Smart
shelves, sensors, and connected
devices for real-time inventory
tracking.
NEED OF SMART RETAIL
• The need for smart retail arises from the
evolving expectations of modern
consumers and the growing challenges
faced by traditional retail models.
• Customer Expectations: In the digital age,
consumers expect convenience,
personalization, and efficiency in their
shopping experiences.
• Operational Efficiency: Traditional retail
often faces challenges related to
inventory management, stockouts, and
inefficient processes.
• Data-Driven Insights: Smart retail
allows retailers to gather and analyze
vast amounts of data on customer
behavior and preferences.
EXISTING SYSTEM OF SMART RETAIL

Existing approaches in store layout design and modern Al techniques that can be utilized in
01 the layout design task. Based on this review, we propose an Al-powered store layout design
framework.
This framework applies advanced Al and data analysis techniques on top of existing CCTV
02
video surveillance infrastructure to understand, predict and suggest a better store layout.

Amazon Go is a cashierless convenience store where customers can enter, pick up items,
03
and leave without going through a traditional checkout process.

The system uses computer vision, deep learning algorithms, and sensor fusion to
04 automatically detect when products are taken or returned to the shelves, and it charges
customers' accounts accordingly.
PROPOSED SYSTEM OF SMART
RETAIL

The proposed framework facilitates customer-oriented store layout design by translating


01 visual surveillance data into customer insights and business intelligence

Customer Intelligence using Video Analytics Its advanced vision algorithm, can provide a
02 lot of insights about the store such as Object detection, face recognition, sentiment
analysis,demographic classification etc. analysis.

Customer Activity using Location Analysis Location analysis in smart retail involves the use
03 of artificial intelligence (Al) technologies to analyze customer activity based on their location
within a retail environment

04 Productivity and Operational Efficiency The Al engine can provide real-time alerts on the
cleanliness of the shop floor, queue length alerts, congestion alerts, staff efficiency, profit
matrix, inventory service levels, and consumption patterns.
WORKING OF SMART
RETAIL
The working process of smart retail using Al involves the integration of various
technologies to create a more efficient, personalized, and datadriven retail
environment.

• Data Collection and Analysis:


Collect data from various sources such as cameras, sensors, RFID
tags, beacons, and customer databases and analysis the data.
• Customer Identification and Tracking:
Identify and track customers using facial recognition technology
for personalized experiences and behavioral analysis.
• Personalized and In-Store Navigation:
Analyze customer preferences and purchase history to provide
personalized product recommendations.
WORKING OF SMART
RETAIL
• Automated Checkout:
Implement Al-powered automated checkout systems that use computer vision and sensors to
identify and process items without traditional cashier interaction.
• Inventory and Operational Management:
Use computer vision to monitor inventory levels in real-time, identify low-stock items, and
automate restocking processes
• Security and Surveillance:
Enhance security measures using facial recognition and object detection for intrusion detection,
lost object identification, and overall surveillance
• Customer Feedback and Monitoring:
Analyze social media and online reviews for customer feedback and sentiment. satisfaction and
identify areas for improvement.
ARCHITECTURE OF SMART RETAIL

01 Retail data framework:


The retail data framework is a set of tools and technologies that can be used to collect,
store, process, and analyze retail data.

02 Data processing and analysis:


The Al software is used to process the retail data and to generate insights and analysis
data .
03 Business intelligence tools:
Business intelligence tools are used to visualize the insights
generated by the Al software and to make them accessible
to business users.

04 Inventory Management:
Al-driven systems for real-time inventory tracking.
BENEFITS OF SMART
RETAIL

 Enhanced Customer Experience: Personalized shopping,


quicker service, and tailored promotions.
Planning Growth Optimization
 Cost Reduction: Improved supply chain management and
reduced manual labor.
 Data-Driven Insights: Better understanding of customer
preferences and market trends.

 Operational Efficiency: Automated inventory


management, reduced waste, and streamlined logistics.
TECHNOLOGIES USED IN SMART
 Internet Of Things(IOT):
RETAIL
• Smart shelves and RFID tags.

• Connected shopping carts.

• Proximity sensors
 Artificial Intelligence and Machine Learning(AI & ML):
• Personalized recommendations

• Customer service chatbots

• Predictive analytics

 Computer Vision:
• Automated checkout systems

• Shelf analytics

• Foot traffic analysis


 Big Data and Analytics:
• Customer insights

• Real-time analytics

• Sentiment analysis
 Augmented Reality (AR) and Virtual Reality
(VR):
• Product visualization
• Immersive shopping experiences
• Virtual try-ons

 Mobile Payment and Digital Wallets:


• Contactless payments

• In-app purchasing

• Biometric payments
ADVANTAGES OF SMART RETAIL

● Improved Customer Experience: Personalized recommendations and faster

checkouts enhance customer satisfaction.


● Efficient Inventory Management: Real-time tracking helps prevent overstocking or

stock outs.
● Reduced Operational Costs: Automation of processes like checkout and restocking

lowers labor costs.


● Data-Driven Insights: Collecting customer data helps in understanding.
DISADVANTAGES OF SMART RETAIL

● High Initial Costs: Implementing smart technologies can be expensive.

● Data Privacy Concerns: Collecting customer data may raise privacy issues.

● Cybersecurity Risks: Connected devices can be vulnerable to hacking.

● Customer Resistance: Some customers may prefer traditional shopping

experiences.
● Maintenance Costs: Regular updates and repairs can be costly.

● ob Reductions: Automation may lead to fewer job opportunities in retail.


APPLICATION
 Smart Shelves: Detect low stock levels and prevent
S OF SMART
out-of-stock scenarios.
 Automated Checkout: Self-checkout kiosks and
RETAIL
cashier-
less stores (e.g., Amazon Go).
 Personalized Marketing: Al-driven product
suggestions based on customer behavior.
 Smart Fitting Rooms: Virtual try-ons and size
recommendations.
 Supply chain management : Improve supply chain
management
to make smart retail more cost-effective and profitable.
 Digital signage : Use IoT to enhance the in-store
experience.
 Predictive maintenance : Use IoT analytics to predict

equipment failure, manage energy, and detect other


issues.
 Mobile app integration: Smart retail apps can track

customer preferences, shopping history, and location within

the store to

offer personalized suggestions and discounts.


 Waste reduction: Predictive analytics helps retailers

manage inventory to minimize spoilage or unsold stock,

supporting sustainability goals.


FUTURE TRENDS IN SMART
RETAIL
• Increased adoption of Al and
• automation.
Greater focus on sustainability and green
• retail
Smart retail is transforming traditional shopping
tech.
by making it more efficient, personalized, and
convenient, ultimately reshaping how
businesses interact with customers.
• Expansion of omnichannel strategies
combining online and offline
experiences.
CONCLUSION

 Smart retail powered by artificial intelligence (Al)

represents a transformative shift in the retail landscape,

offering a myriad of benefits for both retailers and

consumers.
The integration of Al technologies into retail

operations has ushered in a new era of efficiency,

personalization, and innovation.


REFERENCES
https://www.researchgate.net/

https://medium.com/

https://www.jetir.org/

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