- Lenovo Retail Solutions are simplifying and streamlining digital transformation for retailers, unlocking exceptional shopping experiences and customer loyalty.
- Lenovo received recognition at the 2024 Edison Awards, winning the Bronze award in the Commercial Technology Solutions category.
Imagine a store that recognizes you, not just through your membership, but through your shopping preferences! Intelligent digital shelves changing their displays to showcase a list of products curated based on your shopping habits – a personalized retail journey, orchestrated by data and AI, making the retail store visit an experience more than a chore. Retailers are embracing change, prioritizing customer experience, and leveraging emerging technologies to create a seamless, personalized, and engaging shopping experience, whether online or offline. Early adopters have been leveraging AI for chatbots, virtual assistants, and self-checkout systems. Turnkey Point of Sale (POS) and self-service kiosk solutions are helping retailers grow beyond siloed digital point tools to unlock data and insights, as well as reduce the hardware footprint and expense through connected self-service kiosk solutions.
Revolutionizing Retail: The Impact of Lenovo’s Retail Solutions
Drawing on its expertise in IoT, AI, 5G, advanced data analytics, intelligent devices and services, Lenovo has developed Lenovo Retail Solutions – an end-to-end ecosystem that combines hardware, software and services that simplifies and streamlines digital shopping experiences bringing comprehensive insights into evolving customer needs.
- POS solutions, electronic labels, and digital displays maximize ROI through improved operational efficiency.
- Edge-based infrastructure minimizes cloud costs while offering access with enhanced security
- Retail analytics derive intelligent insights allowing businesses to optimize costs and identify new opportunities
Through these solutions, Lenovo has powered the digital transformation of some of the world’s largest retailers like Kroger that leverages Lenovo’s Edge AI servers equipped with the latest NVIDIA GPUs to support its Everseen Visual AI Platform in combatting scanning error challenges at the self-checkout phase.
At last year’s NRF retail event, Lenovo announced its Scan-n-Go Self-Service Kiosk, as well as new AI, infrastructure, and digital storefront solutions. Earlier this year at NRF 2024, realizing the company’s AI for All vision, Lenovo showcased its AI powered spatial intelligence solution (developed with AI Innovator partner Pathr.ai) – a powerful loss prevention solution to detect suspicious behavior inside retail stores. The solution empowers retailers to optimize their loss prevention efforts, protect their bottom line, and improve the customer experience.
The Future of Retail Powered by AI
In the pre-pandemic era, big retailers were looking towards AI for better personalization to secure customer loyalty. Today, the need for hyper-personalization, augmented reality, seamless omnichannel platforms continues to strong preference for deploying AI. CIOs’ interest in leveraging AI algorithms to address consumers’ appetite for product information fueled AI deployment1. According to the IDC CIO Playbook 2024, commissioned by Lenovo, Asia Pacific’s retail industry is prioritizing higher customer experience & satisfaction with the belief that AI will positively impact automation, efficiency, cybersecurity, and personalization. However, the study also found that making a business case for AI is one of the top challenges.
With Retail AI, besides applications for inventory management and logistics optimization, GenAI conversational models serve as a pivotal entry point for retailers venturing deeper into AI. Embracing AI solutions will require retailers to swiftly adapt to market demands, as AI-enabled customer-centric experiences are proving crucial business in today’s fast-paced retail landscape. Recognizing its potential impact in an evolving industry, retailers plan to expand their AI infrastructure investments over the next 18 months2.
Lenovo helps customers make sense of AI
When it comes to AI adoption, one of the top challenges Lenovo is looking to address is helping customers realize the ROI from AI solutions. According to Lenovo’s recently launched Global Study of CIOs 2024, 61% of CIOs said they find it challenging to demonstrate ROI with investments. 42% of respondents admit they do not expect to see positive ROI from AI investments for at least two to three years. Retailers have been struggling with showcasing ROI from AI solutions due to the complexity of quantifying both financial and strategic benefits. As CIOs invest more deeply in AI, they need help in proving how those investments are creating business impact.
- Lenovo’s AI Advisory and Professional Services are designed to help businesses of all sizes navigate the AI landscape, find the right solutions to put AI to work quickly, cost-effectively and at scale, bringing AI from concept to reality. By offering a strategic vision for AI deployment, Lenovo helps identify customized ROI metrics to achieve goals, navigating the rapidly advancing technology landscape to ensure optimal outcomes.
- Lenovo’s AI-powered Retail Solutions help retailers operate efficiently, personalize experiences, enhance service quality, and explore new revenue streams, with a hassle-free service model. These solutions leverage the Device-as-a-Service subscription model, providing efficient fleet management of end-user devices, optimize resources and lower costs while promoting sustainable circular economies – allowing retailers to deploy just what they need and responsibly dispose of what they do not, helping them use finite resources efficiently.
“Retailers are turning to AI to better predict shopper demands. Smarter Retail represents the next generation of user experiences for customers, consumers, and point-of-sell organizations. We’re looking to redefine the entire Retail experience. Whether you’re a restaurant, enterprise retailer, online store, convenience store, or gas station, Lenovo Retail Solutions unifies the power of hardware, software, and services to transform your Retail business end-to-end,” said Lawrence Yu, Executive Director, General Manager of Lenovo Retail Solutions
Lenovo Retail Solutions Earns Industry Recognition
Lenovo’s vision is to democratize AI, fostering responsible and ethical practices to deliver personalized experiences across the retail industry. The Edison Awards that has celebrated forward-looking inventions and groundbreaking innovations for nearly four decades worldwide, recognized Lenovo as its Bronze winner for 2024 in the Commercial Technology Solutions category, recognizing Lenovo’s Retail Solutions across four key parameters – concept, value, delivery, and impact. Lenovo continues to innovate by developing high-performance solutions that meet evolving customer needs, particularly focusing on customer retention in future retail scenarios that are shaped by the revolution of AI. Find out more about Lenovo’s Retail Solutions
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