Intel’s (INTC - Free Report) processors and computer vision capabilities are enabling retailers with advanced technologies to provide customers with an elevated shopping experience.
In this evolving cashier-less era, the chipmaker is focused on aiding store operators in utilizing product recognition and sensing techniques, motion detection, and advanced payment options.
The company recently announced collaboration with LA-based complex, AREA15, set to open in April, built to transform “experiential retail and entertainment” services.
With the latest collaboration, Intel attempts to equip AREA15 complex, with its robust technological capabilities and deliver immersive retail and entertainment experience to visitors.
The chipmaker also introduced Intel Experience Incubation Hub, a multipurpose platform to promote collaboration and drive innovative design concepts across retail ecosystem partners.
Notably, Intel is showcasing its latest technical expertise and various partner use cases to transform retail experience, at National Retail Federation (NRF) 2020 from Jan 12-14.
Demand for Immersive Shopping Experience: A Key Catalyst
In a bid to address evolving consumer demands, retailers are increasingly digitalizing their business processes, which call for advanced technical expertise to enable advanced systems delivering advanced shopping experience.
Notably, per a survey by A.T. Kearney, as quoted from CNBC, 81% of Gen Z would rather shop in brick-and-mortar stores, and 73% opt to discover latest products in stores. Per Millennial Marketing data, as revealed by Intel, retailers and brands are finding ways to address demands of Gen Z, which is well poised to be “the largest generation of consumers by 2020 — responsible for $29 billion to $143 billion in direct spending.”
This is where Intel’s AI, edge, and vision technology capabilities hold promise. Retailers can leverage Intel’s technical expertise to make better data-driven decisions, create personalized customer experiences, and consequently boost operational efficiency.
Moreover, Intel is focusing on ecosystem collaboration to make experiential retail solutions more affordable and scalable to small and big, retailers and brands, alike.
Robust proliferation of ADAS, IoT, wearables, drones, VR/AR devices, is driving digitization in brick-and-mortar stores.
As technology-enabled product design and store design reach new highs, Intel’s advanced technical expertise in designing smart systems, holds promise. The focus on addressing the demands of the “experience economy,” bodes well for the company’s business prospects.
Retailers and store operators are leaving no stone unturned to analyze consumer data and provide data-driven personalized experience, in real-time.
The aforementioned factors are expected to drive adoption of Intel’s latest services, focused on convenience, enhancing supply chain and in-store mobility. This, in turn, is expected to boost top-line growth in the days ahead.
Zacks Rank & Key Picks
Intel carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader sector are Fortinet, Inc. (FTNT - Free Report) , Synopsys, Inc. (SNPS - Free Report) and Garmin Ltd. (GRMN - Free Report) . All the three stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Fortinet, Synopsys and Garmin is currently pegged at 14%, 12.76% and 7.35%, respectively.
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