Thailand’s retail industry is adopting advanced technologies to improve its operations, as Thai consumers are demanding a personalized retail experience.
In a notable example, Lotus’s hypermarket recently joined True Digital to launch Lotus’s Pick & Go by True Digital, which is Thailand’s first smart unmanned store. Customers need to have the TrueMoney Wallet application with a minimum balance of THB 200 (USD 5.6) to shop at the store. The system automatically charges customers for the products selected, taking only a few minutes for a customer to enter the store, select a few items, and then exit by paying via a QR code. The shop is preparing to allow other QR code payment systems to be used by the end of 2023.
True plans to launch an AI retail platform called “True Virgo AI”, which will be a fully automated system connecting a network of AI cameras. The cameras can recognize and learn activities in the store to increase accuracy in activity insights. Items in the shop have digital price tags so that prices can be adjusted in real-time. True and Lotus’s are studying the possibility of launching more unmanned shops at other Lotus’s branches after analyzing customer responses to the first shop.
In addition, Central Retail Corporation (CRC) recently launched what it claims to be the world’s first immersive retail platform. The inaugural version of the platform is known as C-Verse, a shopping channel that harnesses advanced technology and utilizes generative AI. The platform integrates offline and online retail, social media, live-streaming and the virtual world, providing customers with a comprehensive and immersive shopping journey.
According to a recent report from Extrapolate, the global unmanned convenience store market is growing strongly. It was estimated at USD 67.4 million in 2010 and is expected to reach USD 1.64 billion by 2028. Asia-Pacific is the second-largest market for unmanned convenience stores.
(Source: Bangkok Post)