When a consumer enters a supermarket/retail outlets/Malls he has to spend a lot of time waiting in the queue for checkout. There is an overwhelming need for businesses to value customers’ time and install more efficient checkout systems to improve the efficiency of queues and waiting lines.Here the proposed product will enable a consumer or buyer shopping in a retail shop/mall/outlets self-shopping so that he can do his own billing the products he bought using self-checkout machine.Here we are targeting at Retail market focusing Malls/Super markets/Retail Outlets focusing India & Middle East market.Customers want fast checkout systems. Retailers are always searching for ways to improve store checkout systems. Super markets in India & Middle east are not equipped with self-shopping facility. This gives us a unique opportunity in positioning the product into the target market.
Self-checkout devices are growing in number by more than 10% each year, according to Greg Buzek in a recent blog. So, contrary to some rumors circulating through the media, self-checkout is not dead or dying.
In a recent consumer study, NPD Group has confirmed that consumers are increasingly interested in self-checkout technology. The study showed that when grocers implement self-service, approximately 35% of transactions are completed using the technology. Additionally, nearly 50% of U.S. consumers want stores to offer self-checkout.
But to offer a successful self-checkout solution, retailers must consider a number of factors and determine the best implementation strategy. During this upcoming webinar, attendees will learn about the top 5 strategies that will ensure successful self-checkout in grocery stores. Real-world case studies will shed light on key self-checkout tactics.
Attendees also will learn more about the recent research completed by NPD, as well as an in-depth look at IHL’s “2011 Self-Checkout Kiosk Study,” presented by Greg Buzek.
This is an hypothetical project. H&M has identified a problem with very long queues forming around closing time (19:00), especially during weekdays. Queueing time can be up to 10-15 minutes, which creates a bottleneck both for consumers eager to get home, and for employees who wants to close the register for the day. The user data also shows an increase in customers entering and leaving the store without purchasing anything. Most likely a side effect of the long queues. This project aims at solving this problem with a smart, user-friendly solution
The retail sales industry has undergone some noticeable transition in the array of payment methods over the years.
It is imperative that an innovative payment solution is introduced to replace an cashier checkout system especially when there is growing demand for it.
Assuredly, the addition of a mobile self-checkout application in industry will be more prominent in the next few years.
The aim is to develop a mobile self-checkout application for a retail store of a client.
Objective -
Develop a Mobile application having a barcode scanner facility, it will be used to scan the barcode given in product and add it to the cart.
Make the payment with multiple payments methods easily with app itself.
Once payment is done it give alert or message to store owner
Apart from this app will access current location of store and give the products details according to that particular store only.
Application Domain -
Through this application we can easy people’s life by not wasting their time to go through the cashier checkout point, and the product review are also there in the application.
There will be a great impact of this application as It helps in a great measure cut off the long line at the cashier checkout points
which can be frustrating at times for both customers and the cashier.
Technological advancements have elevated consumers’ expectations for the in-store shopping experience. The future of retail is about choice, consistency and customization. Consumers’ want the ability to choose how, when and where they shop, and retailers need to be prepared to meet those preferences. Outdoor retailers can leverage the support of in-store technologies to not only meet customers’ expectations, but create inventory transparency, reduce inventory overhead costs, provide a wider selection of products, and most importantly, gather customer data to better adapt to their shopping behaviors. Analysts agree that retailers who adopt trending technologies for business development are the most likely to grow their revenue and market share.
Factors to consider when designing your in-store technology platform:
•Look at how consumers are using mobile devices in-store to determine which technology will be most effective (focus on simplifying and assisting in their shopping experience).
•Start small with one product (i.e. mobile app or an iPad display) and then add on elements to reduce risk.
•Be flexible, watch and analyze – in-store technologies have website-like analytics to track user behavior (traffic, visits, click-throughs) and understand whether it’s effective.
•Create a unified supply chain strategy where orders can be placed and fulfilled through any channel before launching a mobile POS platform.
•Focus on providing a consistent and seamless experience by aligning Online and in-store efforts.
The following is a sample of how retailers have used advanced technologies to provide enhancements to the in-store shopping experience.
Self-checkout devices are growing in number by more than 10% each year, according to Greg Buzek in a recent blog. So, contrary to some rumors circulating through the media, self-checkout is not dead or dying.
In a recent consumer study, NPD Group has confirmed that consumers are increasingly interested in self-checkout technology. The study showed that when grocers implement self-service, approximately 35% of transactions are completed using the technology. Additionally, nearly 50% of U.S. consumers want stores to offer self-checkout.
But to offer a successful self-checkout solution, retailers must consider a number of factors and determine the best implementation strategy. During this upcoming webinar, attendees will learn about the top 5 strategies that will ensure successful self-checkout in grocery stores. Real-world case studies will shed light on key self-checkout tactics.
Attendees also will learn more about the recent research completed by NPD, as well as an in-depth look at IHL’s “2011 Self-Checkout Kiosk Study,” presented by Greg Buzek.
This is an hypothetical project. H&M has identified a problem with very long queues forming around closing time (19:00), especially during weekdays. Queueing time can be up to 10-15 minutes, which creates a bottleneck both for consumers eager to get home, and for employees who wants to close the register for the day. The user data also shows an increase in customers entering and leaving the store without purchasing anything. Most likely a side effect of the long queues. This project aims at solving this problem with a smart, user-friendly solution
The retail sales industry has undergone some noticeable transition in the array of payment methods over the years.
It is imperative that an innovative payment solution is introduced to replace an cashier checkout system especially when there is growing demand for it.
Assuredly, the addition of a mobile self-checkout application in industry will be more prominent in the next few years.
The aim is to develop a mobile self-checkout application for a retail store of a client.
Objective -
Develop a Mobile application having a barcode scanner facility, it will be used to scan the barcode given in product and add it to the cart.
Make the payment with multiple payments methods easily with app itself.
Once payment is done it give alert or message to store owner
Apart from this app will access current location of store and give the products details according to that particular store only.
Application Domain -
Through this application we can easy people’s life by not wasting their time to go through the cashier checkout point, and the product review are also there in the application.
There will be a great impact of this application as It helps in a great measure cut off the long line at the cashier checkout points
which can be frustrating at times for both customers and the cashier.
Technological advancements have elevated consumers’ expectations for the in-store shopping experience. The future of retail is about choice, consistency and customization. Consumers’ want the ability to choose how, when and where they shop, and retailers need to be prepared to meet those preferences. Outdoor retailers can leverage the support of in-store technologies to not only meet customers’ expectations, but create inventory transparency, reduce inventory overhead costs, provide a wider selection of products, and most importantly, gather customer data to better adapt to their shopping behaviors. Analysts agree that retailers who adopt trending technologies for business development are the most likely to grow their revenue and market share.
Factors to consider when designing your in-store technology platform:
•Look at how consumers are using mobile devices in-store to determine which technology will be most effective (focus on simplifying and assisting in their shopping experience).
•Start small with one product (i.e. mobile app or an iPad display) and then add on elements to reduce risk.
•Be flexible, watch and analyze – in-store technologies have website-like analytics to track user behavior (traffic, visits, click-throughs) and understand whether it’s effective.
•Create a unified supply chain strategy where orders can be placed and fulfilled through any channel before launching a mobile POS platform.
•Focus on providing a consistent and seamless experience by aligning Online and in-store efforts.
The following is a sample of how retailers have used advanced technologies to provide enhancements to the in-store shopping experience.
I interned in the retail division of the ESSAR Group Conglomerate, our family business. Looking at the need gap in the market, my team and I spearheaded the hyper-local retail revolution in the mobile retail category to create services that have the benefits of e-commerce, coupled with advantages of traditional retail. This presentation highlights the hyper-local retail revolution in the form of a case study.
Leading Inventory Innovations Within Multi-Channel RetailDwight Hill
Merchandise availability continues to be one of the most important challenges within retailers today. As the customer is demanding retailers provide a consistent experience across all channels, retailers are forced to innovate and redefine how merchandise is distributed to customers in an omni-channel or digitally converging world. This presentation explores specific areas of inventory management, including planning, visibility, and how the lines are blurring between e-commerce and brick & mortar. Within are tenets that outline best practices, and a group of retailers that stand out as harbingers of the future of inventory management.
Chanllenges for indian ecommerce industryImran Khan
This presentation talks about the current challenges the Indian E_commerce companies are facing and are likely to face in the near future. This is a contemporary issue as the number of e_businesses are growing at alarming rate and possibility of growth in the e_business sector. The prospects, major challenges and the probable solutions have been presented.
Smart Retail refers to the smart technologies that are developed through Artificial Intelligence (AI), the Internet of Things (IoT), to give the customer a better shopping experience. Smart retail solutions help to build an effective and better understanding of the customer in-store experience according to the customer’s taste, need, interest, purchase habits in real-time which makes the retailers provide consummately meeting customer expectations.
Features of smart retail can be four things
1. Camera-Based Analytics – Digital Analytics for Retail
2. Point of Sale (POS) – Software for Smart Retail Management
3. Smart Retail Heatmaps – In-Store Retail Analytics Report
4. Customer demographic Metrics – Location tracking Technology
5. Automatic scanning of products - Smart Check out
6. Anti-theft Management.
https://www.gyrus.ai
Mr. Ed Khatuka, Chief Executive Officer, Intellect Commerce Ltd, calls attention to Strong Technology for Customer Centric Retailing via CIO Review Magazine Special PoS (Jan 2019) Edition
Read More: http://www.intellectcommerce.com/insights/news/customer-centric-retailing-requires-right-technology.html
Know Us More: http://www.intellectcommerce.com/
I interned in the retail division of the ESSAR Group Conglomerate, our family business. Looking at the need gap in the market, my team and I spearheaded the hyper-local retail revolution in the mobile retail category to create services that have the benefits of e-commerce, coupled with advantages of traditional retail. This presentation highlights the hyper-local retail revolution in the form of a case study.
Leading Inventory Innovations Within Multi-Channel RetailDwight Hill
Merchandise availability continues to be one of the most important challenges within retailers today. As the customer is demanding retailers provide a consistent experience across all channels, retailers are forced to innovate and redefine how merchandise is distributed to customers in an omni-channel or digitally converging world. This presentation explores specific areas of inventory management, including planning, visibility, and how the lines are blurring between e-commerce and brick & mortar. Within are tenets that outline best practices, and a group of retailers that stand out as harbingers of the future of inventory management.
Chanllenges for indian ecommerce industryImran Khan
This presentation talks about the current challenges the Indian E_commerce companies are facing and are likely to face in the near future. This is a contemporary issue as the number of e_businesses are growing at alarming rate and possibility of growth in the e_business sector. The prospects, major challenges and the probable solutions have been presented.
Smart Retail refers to the smart technologies that are developed through Artificial Intelligence (AI), the Internet of Things (IoT), to give the customer a better shopping experience. Smart retail solutions help to build an effective and better understanding of the customer in-store experience according to the customer’s taste, need, interest, purchase habits in real-time which makes the retailers provide consummately meeting customer expectations.
Features of smart retail can be four things
1. Camera-Based Analytics – Digital Analytics for Retail
2. Point of Sale (POS) – Software for Smart Retail Management
3. Smart Retail Heatmaps – In-Store Retail Analytics Report
4. Customer demographic Metrics – Location tracking Technology
5. Automatic scanning of products - Smart Check out
6. Anti-theft Management.
https://www.gyrus.ai
Mr. Ed Khatuka, Chief Executive Officer, Intellect Commerce Ltd, calls attention to Strong Technology for Customer Centric Retailing via CIO Review Magazine Special PoS (Jan 2019) Edition
Read More: http://www.intellectcommerce.com/insights/news/customer-centric-retailing-requires-right-technology.html
Know Us More: http://www.intellectcommerce.com/
What are the components of an excellent sales enablement process that evolves the sales function into a much larger contributor to the strategic growth of an organization? This presentation will answer this effectively.
How to start an e commerce start-up (A step by step guide)Amit Kumar
In a master class to a group of startup founders and enthusiasts, Amit Kumar (CEO of OLX Autos) presents a step by step guide to build an e-commerce business.
Nowadays customers need to stand in a queue in supermarkets for billing. So here we are introducing a service application by the name of “QueueLess”, its basically self-billing system.
Extensive Validated Case Study on the Business Process Framework for Market Entry of a Minimum Viable Product corresponding to a Mobile App Generating Vernacular Payment Links.
Go To Market Strategy for Market Launching a new POS deviceSundar Raghavan
The intention of deck is to showcase the studies/findings conducted to launch a new smart POS terminal in the market – the distribution methods and pricing models. The deck assumes the smart POS terminal is already built and ready to launch.
Self Checkout Systems for Retail Market -India & Middle East
1. B-Plan template by
EMINENT IT INNOVATIONS &
DEVELOPMENT PVT LTD
One line business description: We provide online
tools,products,services and solutions as per the customer
requirements targeting both domestic and international markets.
City: Trivandrum,Kerala
Stage: Early Revenues
Type of business: B2B & B2C
Website url: http://www.eminentconsultingservices.com
Contact Person: VINESH P
E-mail id: pvinesh@gmail.com
Mobile:+91-9539072227
2. B-Plan template by
Product / Service
• When a consumer enters a supermarket/retail outlets/Malls he has to spend
a lot of time waiting in the queue for checkout. There is an overwhelming
need for businesses to value customers’ time and install more efficient
checkout systems to improve the efficiency of queues and waiting lines.
• Here the proposed product will enable a consumer or buyer shopping in a
retail shop/mall/outlets self-shopping so that he can do his own billing the
products he bought using self-checkout machine.
• Here we are targeting at Retail market focusing Malls/Super markets/Retail
Outlets focusing India & Middle East market.
• Customers want fast checkout systems. Retailers are always searching for
ways to improve store checkout systems. Super markets in India & Middle
east are not equipped with self-shopping facility. This gives us a unique
opportunity in positioning the product into the target market.
3. B-Plan template by
Team
•Our current team size is 6 including the founder and co-founder. Our core
team consists of 2 programmers , 1 graphic designer and 1 Project manager.
•The founder is having 15 plus years of experience in IT industry with different
verticals. The founder is involving in the overall operations like marketing and
operations. He is the CEO of the company.
•The co-founder has 10 plus years of technical experience in IT industry. She is
heading the technical division of the company and CTO of the firm.
•The Project Manager is having 7 plus years of technical experience in the IT
field who is heading our technical team. Project Manager is reporting to CTO of
the company.
• We hired the programmers as freshers.We imparted training to them and
completed 2 years in our company. The graphic designer has got 5 plus years
of experience in the field. Programmers and Graphic designer is reporting to
the project manager of the company.
4. B-Plan template by
What is the size of the opportunity
• By 2015, the total market size is estimated to be around USD600 billion, thereby
registering a CAGR of 7.45 per cent since 2000.
• Retail industry is expected to grow to USD1.3 trillion by 2020, registering a CAGR of
9.7 per cent between 2000-2020
• India is the fifth largest preferred retail destination globally. The country is among the
highest in the world in terms of per capita retail store availability.
• Between FY09-13, organised retail in India witnessed a CAGR of 19-20 per cent .
• Organised retail is expected to account for 24 per cent of the overall retail market by
2020.
• In Middle East , the retail sector is the second largest industry in the oil-rich GCC
region, and is considered to be the most favoured means of endorsing diversification
and continual economic development in the area.
• In 2011,the number of luxury outlets in the world increased by 14% according to a
report by the consultancy Ledbury Research quoted in the Financial Times, while in
the UAE the number of luxury stores increased by almost 50%. (Source:IBEF &
Ledbury Report)
5. B-Plan template by
What is the size of the opportunity
Retail Stores by numbers- Source IBEF(India Brand Equity Foundation)
6. B-Plan template by
What is the size of the opportunity
• We are targeting at Retail markets focusing Malls/Super
markets/Retail Outlets focusing India & Middle East market.
• We will be conducting test marketing of the product in the selected
outlets in the selected cities for 3-6 months after Beta release of
the product.
• The plan of action for 24 months is give below:
Initial 3-6 moths - Beta release of the product.
Next 3-6 moths – Test marketing of the product in the selected
super markets/malls/Outlets in selected cities.
Next 24 moths – Selling of the product starts in India & Middle east
markets
7. B-Plan template by
ABOUT THE PRODUCT:
The proposed product is a technology product with 2 versions :
A stand alone machine which enable a consumer visiting
the super markets/mall self shopping so that be can scan
the products using the POS machine and pay using the
machine.
There will be wireless enabled POS which will enable the
consumer scan the product and pay the bill using the
machine. We will be developing the software for the product
to be integrated in the hardware
8. B-Plan template by
PRODUCT FEATURES:
• Barcode Reader with Photo-identification of the products.
• Custom feature for touch interface with electronic barcode
integration.
• Application software.
• Inventory Management.
• Touch Screen Interface
• POS machine for Cash Transactions
• Payment either through pre-paid card or debit/credit cards.
11. B-Plan template by
Business model e.g. how do you plan to make money?
• We want to follow 2 business models:
• A) Price per product piece. – Rs 500,000 per piece(proposed)
• B)On SAAS model Billing. Monthly billing per consumer or
product sold. The bills are calculated at each month end and
will be collecting by first week of next month.
• The customer can choose any of the above mentioned
business model as per their convenience.
12. B-Plan template by
Competitive landscape
• At present there are no self checkout systems for Retail
markets in India & Middle east. This gives us a unique
opportunity to position our product in India & Middle east. This
opportunity will help us become a dominant in the market
within the next few years after the introduction of our product
in the market.
13. B-Plan template by
Your goals
• Initial 3-6 moths - Beta release of the product.
• Next 3-6 moths – Test marketing of the product in the selected super
markets/malls/Outlets in selected cities.
• Next 24 moths – Selling of the product starts in India & Middle east
markets
• Next 2 years – Mass production of the product.
• Next Five years – Will be achieving the break even and become
profitable.
Current achievements / status:
• Identified some potential customers in India and Middle east for the product.
14. B-Plan template by
Funding objective
• The amount we required :- Rs 50,000,00 ( 50 Lakhs)
• The above fund will be utilized for the following:
• A)Technology – for the development of Hardware and software
• Man Power –Technical
• Man Power –Marketing
• Marketing Activities -1)Test Marketing 2)Product launch in select cities
3)Advertisements 4) Product promotion campaigns 5) Aggressive
Direct Marketing Activities.
• We raised Rs 700,000 from from Kerala Financial Corporation(KFC)
under Kerala State Entrepreneur Development Mission (KSEDM)
scheme of Kerala Government. We raised nearly Rs 600,000
personally for the company during the period 2014-2016
15. B-Plan template by
Funding objective -Proposed Cost
TECHNOLOGY 25,00,000
MANPOWER ‐TECHNICAL 5,00,000
MANPOWER‐MARKETING 5,00,000
MARKETING ACTIVITIES 15,00,000
TOTAL 50,00,000
16. B-Plan template by
Funding objective- Proposed
Revenue(India & Middle East
combined)
EXPECTED RESULTS YEAR 1 YEAR 2
CUSTOMERS REGISTERED 50 100
% OF REGISTERED
CUSTOMERS WHO BUY
THE PRODUCT
25% 50%
NO.OF CUSTOMERS
WHO BUY THE PRODUCT
12.5 50
REVENUE PER SALE 500,000 500,000
TOTAL REVENUE 6,25,000 25,00,000