AiFi plans to open 330 more stores
The retail industry is experiencing a shift in creating a seamless shopping experience with the help of a cashierless retail experience. You might know about the cashierless Amazon Go store but they will be facing new competition from AiFi.
The Santa Clara-based cashierless retail startup, AiFi, secured a $15 million investment from existing backers and Qualcomm that doubled AiFi’s funding to $30 million. AiFi debuted the cashierless retail concept in February 2019 and has worked towards getting funding to create more AiFi locations.
Autonomous stores! The future of retail https://t.co/vYII7YcNqL
— customsocial (@cstmsocl) October 19, 2020
AiFi will be using this funding to work towards opening 330 stores in the United States, Australia, and Europe. AiFi opened its first store in Shanghai earlier this year that was used for testing purposes.
The AiFi stores work on the Oasis platform utilizing cameras around the store with the system trained to recognize hundreds of products with 99% accuracy within 3 months of opening. The platform automatically keeps track of inventory, provides real-time store operations data, and identifies misplaced items.
After Amazon Go launched its cashierless store, a majority of retailers raced at the chance to compete in this unique retail market. The coronavirus (COVID-19) pandemic has created a bigger demand for more contactless shopping options.
According to a report by ABC, the use of contactless features for banks has increased 150% since March and is expected to increase as more businesses implement contactless features. Standard Cognition and Grabngo businesses have recently announced the launch of “no-line” payment options in convenient stores and supermarkets.
-
As more games adopt the free-to-play model, the presence of “pay-to-win” tactics becomes an ever-present concern. After all, what’s...
-
A big part of the street kid culture that Splatoon 3 champions is making yourself seen all over your...
-
I’ve been a member of the “Water Starters for Life” club ever since the first generation of Pokemon, so...
-
In many games in the Resident Evil series, you’re assigned a rank upon completion of the game’s story. These...
-
They say that when you love what you do, you’ll never work a day in your life. That’s a...
-
Have you ever had the distinct impression that your bed has it in for you? Weird thing to ask,...
-
For as long as the concept of RPGs has existed, there have been random NPCs screaming their heads off...
-
There’s something kind of magical about cassette tapes, isn’t there? Yeah, they don’t have the best storage or fidelity,...
-
Did you know that, in some parts of the world, rhinoceros beetles are actually worth a decent amount of...
-
As the remakes of the Resident Evil games have come out, Capcom has been gradually refining its proprietary RE...
-
In my experience as an office worker, every single employee always maintains a couple of hiding places. After all,...
-
Maybe this is my claustrophobia talking, but I’m not big on caves. They’re dank, they’re cramped, and you are...