Intel Corporation (NASDAQ:INTC) has launched a platform for retailers which aims to enhance the shopping experience by enabling the development and spread of retail store solutions that are both flexible and scalable. The chipmaker will commit approximately $100 million towards this effort in the next half a decade. Responsive Retail Platform (RRP) is the name of the platform.
The move was revealed by Intel’s chief executive officer, Brian Krzanich, during a National Retail Federation conference. Consisting of a set of software kits, sensors and other hardware solutions, the Responsive Retail Platform will offer retailers a chance to obtain big data analytics reports on buyers and their purchases as well as faster inventory processing speeds. It will also be possible to personalize the shopping experience with the RRP.
Smart shopping experience
In a blog post, Krzanich said the Responsive Retail Platform would be transformative for retailers in that it would help lower costs, increase sales and manage resources effectively and efficiently.
“The retail platform collects multiple data streams to connect digital and physical environments. With the goals of lowering costs and increasing sales, the platform helps optimally place inventory, deploy employees and other resources, and track inventory,” wrote Krzanich.
Using the new platform, it will be possible for businesses to monitor in real-time the automated actions of their customers and store personnel. This will enable retailers to cut the costs and time required to roll out new retail store services.
Robots in stores
The channel program within Intel has focused on Internet of Things Retail for some time now. Two years ago an incentive was unveiled whereby partners with the Platinum or Gold designation were offered access to vertical-specific resources, professional development tools and technical specialists from Intel.
During the NRF conference, Intel also put its Simbe Robotics Tally on display. This is an analytics and shelf-auditing robot that will replace store representatives and ensure that the right products with the correct price tags are stocked on the shelves. Operating side by side with humans, the robots will also be at work during a store’s opening hours.
In Friday’s trading, Intel Corporation rose by 1.01% to close the day at $36.94 a share.
