Smart Retail
Smart Retail Solution
IFREEQ helps retailers work smarter in efficient services and higher revenue.
The market value of smart retail has reached USD10 billion in 2018 and is expected to increase to USD38.5 billion by 2023, with a compound annual growth rate of 24.12%. Currently, China's new retail market is growing vigorously. According to the research from Analysys, the compound annual growth rate of the new retail market from 2017 to 2019 has reached 115%, and the new retail market value is expected to reach CNY1.8 trillion in 2022. Although physical stores will not disappear in the foreseeable future, the impact of e-commerce and the change in consumers' shopping preferences have forced physical stores to upgrade themselves. They must employ technologies to meet consumers' expectations for a simple and smooth shopping experience, and to create digitalized management systems that can reduce costs and boost business growth.
In response to the high standardization required for branded chain stores and the costly on-site inspections, IFREEQ Smart provides retailers with one-stop, video-based remote store inspection solutions. Focusing on operational data analysis, digitalized management, store security, and smart marketing, IFREEQ provides the smart retail solutions based on a business management backend in collaboration with professional retail partners. The solutions employ AI+IoT (AIoT) technologies to provide a digitalized management system that can reduce operational costs and boost business growth.
Architecture
IFREEQ's AI+IoT underlying capabilities back up the IFREEQ ecosystem. Our powerful P2P video streaming services meet global security compliance standards. The stability, security, experience, and scalability have been fully proved. Our open architecture and systems fully assist in implementing smart security, marketing, and stores.
Advantages
Application Scenarios
Store Inspection
With the mobile app or PC, visually inspect stores in real-time through video streaming. Check and manage goods display, staff performance, and in-store environment.
Store Security
IFREEQ addresses the security pain point of chain stores, leveraging the hardware ecosystem to deliver store security solutions. Data visualization provides all-round protection for stores.
Digitalized Store
Evaluate the stores by quantitative factors including inspection results, IoT device status, energy consumption, marketing results, and customer traffic to form a quantitative assessment system.
Environment Data Monitor
Combine both environmental sensors and smart controllers to visualize and monitor store environment and power consumption data for optimal cost and efficiency balance.
Inventory Restock
Chain stores restock inventory through consign distribution channel during early morning or late night. The personnel changes expose potential threats to store security.
Smart Marketing
Smart marketing system equipped with facial recognition and customer traffic analysis to aid in-store precision marketing and sales based on purchase history and frequency.