Our solution is built on three components:
- Artificial Intelligence (AI) where a Computer Vision based system, together with a sensor fusion network, matches products and customers in the store to track which customer purchased a certain product.
- Hardware, with an RFID-tag to be attached to the product like a price tag, and an in-store installed scanner, with similar appearance as today’s anti-theft detectors. The tag communicates with the scanner which registers how the products are moved physically. This solution is a complement to the AI based product tagging.
- Software, with a server-based platform with algorithms for collecting and managing customer and product data. This is integrated with the store´s business/ERP system (Enterprise Resource Planning).
- A consumer user interface, in the form of a mobile app.
Let´s imagine a typical use case. A consumer coming into a retail store, looking for a new sweater. She sees a nice one on display, but is not sure about the colour. She opens her TOSK app and quickly scans the product with her mobile phone camera, instantly getting all relevant product information. She uses the social push function to send a visual message to her best friend asking for her opinion. Waiting for the response she reads that the product is also available in a nice green colour. This actual store however happens to be out-of-stock on that colour, but the app gives her suggestions on two other stores nearby and with current number or articles in stock of the particular sweater in right size and colour. It also gives her the option of purchasing this product in e-commerce.
She is slightly hesitant however and leaves the store without a purchase. (Had she instead decided to make a purchase, she had only to click the “buy” button in the app, short-cutting the whole “standing in line at the check-out” hassle.)
On the way home she gets a big thumbs up on Facebook from her friend, and decides to buy the sweater after all. As all details of the product are saved in the app, she just opens it and clicks a purchase for home delivery within a couple of days. In fact she also decides to buy a matching scarf, after recommendations from the app, based on what other people that viewed this product have liked.
Our consumer is happy, she got better information, hassle-free shopping and a convenient way to connect with her friend.
The store is possibly even happier, as our solution opens several interesting benefits for them. Let´s go through them, in more detail.
1. Additional sales, driven by;
- A very cost-effective and direct communication channel to the consumer, for offers, new arrivals or other product suggestions
- Product recommendations tailored to each customer’s needs, behavior and profile (as tracked by TOSK app combined with data in possible loyalty program)
- Removed barrier of long check-out lines, optimizing in-store conversion
- Saved product data in app, facilitating completion of purchase at later point in time
- Facilitating the social aspect, which is known to drive sales
2. Accumulation of customer data (giving the physical channel the same opportunities as e-commerce channel)
- All purchases are matched to an individual
- Even browsed products are tracked. As soon as the tag is scanned data is generated (not only for purchased products).
- Deeper and more complete compared to loyalty programs/customer clubs (thereby complimenting the existing data)
- Allowing the chain to build a seamless omni-channel retail experience
3. A more efficient payment solution
- Having the consumer’s TOSK account connected to a bank account enables direct purchase through the app, without having to use a VISA card or similar
- This will save the store a lot of money, replacing the need for expensive credit card fees (depending on the size of a chain and type of contract, this typically costs the store between 3 to 5 % for each transaction)
4. A more efficient logistics model, using the RFID tag
- Minimizing loss in the logistics chain, allowing perfect traceability of the products
- Enabling just-in-time deliveries and optimization of stock management
5. Reduced cost of staff, since check-out staffing can be decreased
We develop software with high focus on usability, quality and look & feel. The software is developed for the following operating systems:
- Microsoft Windows
- Mac OS X