Conventional retail is evolving and looking for new ways to serve consumers and improve profitability. Combining the best of brick and mortar with e-commerce, a fresh approach is making its way onto the shelves: New Retail.
With innovative, sustainable solutions, retail is driving convenience and efficiency all at once. Online, offline and logistics merge in new retail, creating a dynamic new world of retailing. This concept turns traditional convenience stores into self-service fulfilment centres located regionally or locally, close to homes, workplaces, transport hubs and leisure activities. Its rallying cry is to provide supply wherever people are, not the other way around.
These days, many claim that the time of mega malls is over and that the next retail revolution will occur in uncovered spaces of so-called people flows. Consumer convenience can be offered in mass transport hubs such as airports, ports, train and bus stations, or in the streets outside the shop, where unmanned, intelligent cabinets reach out to people who want to buy fast and avoid queueing inside. In such settings, replenishment is made easy.
Examples of businesses that can unlock new possibilities with the Intelligent Cabinet
Intelligent cabinets offer a wide selection of products in a single point of sales. Using the cabinet is intuitive and easy.
Customer opens the cabinet using selected smartphone payment app.
Following successful authentication, the cabinet unlocks to allow the customer to select the desired items.
When the door is closed, the cabinet reads the items taken, triggering payment and replenishment orders.
The customer receives a summary on the top panel and a receipt in their payment app.
The cabinet is ready for the next customer.
The New Retail solution with Intelligent Cabinets is available to be deployed. If needed, your business can first pilot on a smaller scale with low cabinet volumes to develop a proof of concept. In this phase we gather insight, test the customer case and validate it in a trial of a limited number of cabinets. This way, we can determine the fit and key requirements during approximately 2-3 months of use. Next, we ramp up the successful pilot with hands-on experience for how to scale.
In addition to the RFID-based ECO tag technology and cabinets, Stora Enso offers a back-end solution for retailers to keep track of transactions, replenishment and other management needs. Stora Enso also provides the equipment for tagging the items that go in the intelligent cabinet. For cloud-based data collection and analytics services Stora Enso is partnering with Microsoft.
Pricing is tailored separately for each case. The set-up fee covers software integrations, cabinet and machinery sales, and installations, while annual fees include the software licence fee, tag consumption and any service level agreements.