Tony D'Onofrio
Visual Artificial Intelligence Revolutionizing Retail
- November 11, 2020
In POS deployments protecting over $400 billion in retailers' revenue across 75,000+ checkout lanes, the average sales uplift has been 0.5% and the margin increase a substantial 20%.
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It is a Small World
“Even monkeys can fall from their trees.” – Japanese Proverb
Continuing our global learning journey, our next stop is Tokyo Japan. Founded, in 1603, this city was once a small fishing village called Edo. In 1890, it became Tokyo which means Eastern Capital in English.
In Tokyo, you will find the world’s busiest intersection, the Shibuya crossing where 2,500 people cross the intersection, every time the lights turn green. This city also holds the record for the most Michelin starred restaurants at 212 places to enjoy amazing food.
Tokyo is the most populous city in the world with 37 million people. Uniqueness is everywhere, even in vending machines, where you can buy hot meals, fresh produce, and even umbrellas. There is one vending machine in the city for every two people.
Have lost count on the many times I visited Tokyo to experience their modern retail industry. This picture is from the New Otani Hotel gardens, a favorite during multiple visits.
As the Japanese proverb that opened this summary reminds us, no matter how accomplished we become, you can always make a mistake. Overconfidence can lead to missteps. Life is one sweet ride and Japan provides many reminders on how to enjoy it.
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Brilliant Research
Deloitte Global Retail Outlook 2024
After a prolonged period of suppressed consumer spending, macroeconomic and geopolitical uncertainty, and rapid changes in consumer behavior (among other things), the global retail industry stands at a crossroads; forced to make decisions about long term investments in new technology and business models while at the same time managing the rising cost of doing business and a decline in the spending power of consumers. - From Deloitte Insights Read more
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In 2024, a record 4.7 billion people are projected to travel by air—200 million more than in 2019. While revenues surged to an estimated $896 billion globally last year, airlines face extremely slim margins. On average, they made just $5.44 in net profit per passenger in 2023. Today, the industry faces pressures from high interest rates, supply chain woes, and steep infrastructure costs. - From Visual Capitalist
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