The inception of Shopic stemmed from a desire to innovate within the brick-and-mortar retail industry, an area ripe for digitization.
After years in cybersecurity, co-founders Eran Kravitz and Raz Golan identified a significant opportunity to revolutionize retail through technology. Initially developing a mobile app for quick checkouts, they soon realized the potential of a computer vision-based solution. This led to the creation of the Shopic Smart Cart, a transformative technology that enhances the shopping experience by seamlessly integrating advanced CV technology into traditional shopping carts.
In an interview with Website Planet, Kravitz shared how this journey has positioned Shopic at the forefront of retail technology innovation.
What inspired the creation of Shopic?
The creation of the Shopic Smart Cart was inspired by our desire to venture into a new field after years in the cybersecurity industry. My co-founder Raz Golan and I recognized that the brick-and-mortar retail industry had been slow to adopt digitization and saw a significant opportunity for innovation.
Initially, we developed a mobile app for quick checkout using barcode scanning. However, as we delved deeper and began applying machine learning models to the data, we saw the potential of a computer vision-based solution. This realization led us to create a system that could identify every product added to grocery carts using advanced CV technology. The breakthrough moment came when we saw the excitement in retailers’ eyes as we demonstrated our early proofs of concept, confirming that we were on the right path.
Can you explain the key features that set Shopic apart in the retail technology industry?
Shopic is at the forefront of transforming physical supermarkets with advanced retail technology. Our innovative approach centers around our unique clip-on device, which leverages cutting-edge computer vision technology to convert any standard shopping cart into a smart cart for the duration of a shopper’s visit. This detachable solution is pivotal in enhancing the shopping experience without the need for costly infrastructure overhauls.
Key to Shopic’s differentiation is our advanced computer vision (CV) technology. Developed from extensive data collected during shopping sessions, our AI-powered system sets a new standard by accurately identifying tens of thousands of SKUs with high precision. This capability ensures that every item added or removed from the cart is seamlessly recognized, regardless of varying lighting conditions or shopper characteristics such as diverse hand movements and jewelry.
Unlike traditional solutions that require dedicated, expensive smart carts, Shopic’s clip-on device integrates effortlessly with existing shopping carts. This seamless integration facilitates quick deployment, utilizing only a charging wall for easy attachment. The lightweight and ergonomic design of our device ensures minimal impact on the shopper experience, promoting swift adoption and operational efficiency for retailers.
Shopic’s solution is also optimized for large-format grocery stores, accommodating extensive floor spaces and diverse product ranges. Our system’s rapid deployment capability and adaptable training mechanisms for new products ensure that retailers can seamlessly integrate our technology without prolonged disruptions.
In essence, Shopic stands out by combining technological innovation with practical usability, empowering retailers to elevate the in-store shopping experience while achieving tangible business benefits. Our commitment to enhancing operational efficiency, driving revenue growth, and meeting the evolving needs of modern retail makes us a leader in the retail technology industry.
How does Shopic enhance the shopping experience for customers?
First, our solution is all about seamless integration. The easy attachment of our clip-on device to any shopping cart makes the transition smooth and non-disruptive. Shoppers don’t have to adapt to new equipment, which means they can immediately enjoy the benefits of smart shopping without any hassle.
Advanced AI and computer vision are at the core of our technology. With just two cameras, Shopic’s smart cart can accurately recognize tens of thousands of SKUs based solely on visual data. This high-accuracy recognition ensures robust performance no matter where you are in the supermarket.
When it comes to enhanced shopping efficiency, our smart cart provides a real-time tally. As items are added to the cart, they are immediately recognized and added to a running tally displayed on the touchscreen. This helps shoppers keep track of their spending in real time, avoiding surprises at checkout.
We also focus on delivering a personalized shopping experience. Our device’s touchscreen can display contextual promotions and recommendations based on the items added to the cart. This helps shoppers discover new products and enjoy valuable savings tailored to their shopping habits. Additionally, Shopic offers store guidance and navigation, guiding shoppers through the store more efficiently to find the items on their list.
One of the biggest pain points in shopping is waiting in line, and we address this with our frictionless checkout. Our device uses cameras and an integrated processing unit to recognize items as they are added or removed from the cart. Shoppers can complete their purchases directly through the device, skipping the checkout lines entirely.
The overall shopper delight is what we strive for. Shoppers love the faster, smoother, and more personalized shopping experience that Shopic provides. By bringing the advantages of online commerce to the physical retail floor, we make sure the shopping process is as convenient and enjoyable as possible.
What types of retailers benefit the most from using Shopic’s solutions?
Shopic’s solutions are particularly beneficial for medium to large-sized grocery retailers, and I’d love to explain why. First off, our zero-disruption approach means that stores can quickly implement our smart, frictionless shopping experience with minimal modifications to their existing layouts and operations. This is crucial for medium and large retailers who want to upgrade without the hassle and high costs usually associated with such transformations.
When it comes to shopper insights, traditional retailers often have a blind spot from the moment a shopper enters the store until they check out. Shopic changes that by providing real-time data on the entire shopping journey. Retailers can use this data for footpath personalization, shelf analytics, and contextual promotions, helping them understand shopping habits better than ever before. This real-time tracking of shopper carts unlocks new data opportunities that can significantly optimize store management.
Our technology also addresses a critical issue facing many retailers today: labor shortages. With Shopic’s smart carts, employees can spend less time on routine tasks like manning checkouts and more time on customer-related activities, improving overall store efficiency.
Another major advantage of our solution is its role as a retail media channel. The cart’s screen can reach shoppers with personalized offers at the exact moment they’re making purchasing decisions, driving additional revenue for retailers. This is a powerful tool for marketing right at the point of sale.
From a competitive standpoint, our technology helps retailers respond to the disruption caused by giants like Amazon. By blending the best of online and offline experiences, we meet the rising demand for contactless shopping and provide a compelling, innovative shopping journey.
Economically, retailers see significant benefits too. Personalized promotions drive higher basket values and reduce shrinkage, boosting overall revenue. By adopting our technology, retailers not only stay ahead of the curve but also position themselves as leaders in innovation, enhancing their market position and fostering customer loyalty.
In summary, medium and large grocery stores stand to gain the most from Shopic’s solutions. Our advanced technology enhances the shopping experience, improves operational efficiency, and offers significant economic benefits—all while requiring minimal disruption to existing operations.
Can you share a success story from a retailer who has used Shopic’s technology?
One of our impactful partnerships is with Shufersal, one of Israel’s largest retail chains. During our pilot phase, we demonstrated compelling results that underscore Shopic’s technology’s effectiveness in enhancing shopper satisfaction and operational efficiency.
Our system received positive feedback, with 89% of shoppers reporting satisfaction and 78% becoming repeat users. This contributed significantly to customer loyalty and retention, as shoppers preferred returning to Shufersal stores equipped with Shopic’s technology rather than opting for alternatives. This shift has also significantly influenced revenue, as up to 15% of the chain’s revenue in stores we’re operational in, is now processed through our Shopic’s Smart Cart, accompanied by an 8% increase in shoppers’ monthly spending.
Our partnership with Shufersal illustrates how integrating our smart cart improves the overall retail experience. By simplifying the checkout process and providing a seamless shopping journey, we enhance customer satisfaction while optimizing operational efficiency for retailers. This success story highlights our technology’s practical benefits in meeting modern shoppers’ evolving needs and driving tangible business outcomes for our retail partners.
Visit our customer case study at www.shopic.co for more detailed insights into our success with Shufersal and how our technology transforms retail operations.
What future trends or developments do you see as most important for the retail technology industry?
Absolutely, looking ahead, we have some exciting developments on the horizon that will shape the future of retail technology. At Shopic, we continually advance our computer vision capabilities, which forms the backbone of our innovation strategy. We’re poised to introduce new functionalities redefining how retailers operate and interact with shoppers.
One key area of focus is advanced shelf monitoring for real-time inventory tracking. This technology will allow retailers to maintain optimal stock levels, reduce out-of-stock instances, and enhance overall store efficiency.
Additionally, we’re expanding our location services capabilities to offer better in-store navigation and promotions. Imagine shoppers being guided seamlessly to products on their shopping lists, enhancing convenience and reducing searching time.
Moreover, we’re developing personalized customer engagement tools that leverage AI to deliver tailored promotions and recommendations. This will not only enhance the shopping experience but also increase customer satisfaction and loyalty.
These innovations are set to revolutionize the retail landscape, empowering retailers with sophisticated tools to streamline operations, improve customer interactions, and ultimately drive business growth. By embracing these future trends, we are committed to delivering a future where retail technology enhances both retailers’ efficiency and shoppers’ satisfaction.
Find out more at: www.shopic.co
Luka, a skilled individual from Serbia, set aside his aspirations of becoming a Web Designer but discovered a fresh passion for content writing. With a keen interest in IT-related domains, encompassing Web Design and UI-UX Design, Luka is now delighted to express his thoughts on his favorite subjects. His proficiency in these areas positions him as an excellent source for those seeking valuable insights into the realm of technology.
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