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Retail Robots
By: Sherly Alay
Business Context
Retail stores are very popular and profitable
Our lifestyle is used to shopping for everything
Popular all over the world
Some famous retailers include companies such as Zara, H&M, Macy’s.
Fast fashion, and wholesalers such as Amazon and Walmart.
Local boutiques
Business Problem
People are not shopping in-store
Going to the mall to shop can become exhausting, boring, and time-consuming
Companies are paying for labor and at times don’t even get customers during slow shifts
COVID-19 has made people paranoid to be in close proximity to potential carriers of the virus
COVID19 has forced retail stores to close
Business Solution
Retail robots are starting to be used by retailers such Amazon & Walmart
This technology is powdered through AI
Robots can be used for warehouse duties and inventory
Robots can know the location of an item easily
Less time looking for an item, which turns into more time with a customer
Benefits
Technology is growing, by 2025 more than 150,000 robots will be implemented in retailers
Customer satisfaction
A SIGNIFICANT amount of profit
Won’t be depending on unreliable personnel
Can do the job no matter weather, health, or other conditions
References
Hoggan, K. (2018). Five Things to do with Empty Retail Space [Photograph]. Retrieve from https://www.bbc.com/news/business-43699263
How Much Does It Cost To Open a Retail Store? Try Our Calculator. (2019, November 14). Retrieved June 25, 2020, from https://www.softwareadvice.com/resources/cost-of-opening-retail-store-calculator/
Fairfax, VA Retail Space for Lease. (n.d.). Retrieved June 25, 2020, from https://www.loopnet.com/virginia/fairfax_retail-space-for-lease/
O’Brien, E. (April, 2020). Market Playbook: 3 Examples of Robotics in Retail Transformation. Robotics Business Review. Retrieve from https://www.roboticsbusinessreview.com/retail-hospitality/market-playbook-3-examples-of-robotics-in-retail-transformation/
Petro, G. (January, 2020). Robots Take Retail. Forbes. Retrieve from https://www.forbes.com/sites/gregpetro/2020/01/10/robots-take-retail/#2e6ff70c1720
Retailbiz, (2017). The Possibilities of AI in Retail [Photgraph]. Retrieve From https://www.retailbiz.com.au/tag/robot/