IIFIThe California-based tech start-up opened its fourth and largest autonomous store in Shanghai in December last year.
IIFI was founded Steve Gu And Ying Zheng 201 in 2016. The company specializes in autonomous computer vision-technology applied to stores of all scales and sizes, from pop-ups to supermarkets.
4,000 square feet hybrid facility-mart Shanghai Considered the largest autonomous shop in the world. The store stocks more than 2,000 SKUs, from fresh meats to snacks, and has both AI-powered and cash-shopping experiences.
How does the store work?
IIFI uses its proprietary autonomous store platform OASIS and an efficient-effective computer vision solution that enables instant change time to deploy technology. Its technology can track purchase behavior with accuracy when customers travel and select items in the store.
The company created a hybrid model that allows customers to make autonomous purchases if connected to its IIFI app, otherwise checkout through a cashier is also available for those who prefer assistance and communication. This shop is designed to give customers a gradual autonomous solution.
Steve Gu, CEO and co-founder of IIFI, commented on the store model, saying that the hybrid approach gives retailers a way to present an autonomous experience to customers, and everyone becomes accustomed to the joy of frustration without stopping in line at the same time. Outbreaks appear to be exacerbated during this time.
Data protection and growth prospect
IIFI also claims to keep identities private without storing facial recognition or biometric data. “We provide customers with a seamless, fast and enjoyable shopping experience while providing detailed inventories and analytics designed for highly efficient operations for vendors. We are fully compliant with GDPR and CCPA, so no personal information of any customer is disclosed, ‘said Gu.
This is IFI’s fourth store in Shanghai, in addition to its many competitors in China. At the end of 2017, about 200 unmanned convenience stores opened in China. By the end of 2020, the unmanned convenience store was estimated to have a total market size of RMB.3 billion ($ 0 billion .. 3 million). However, many of these unmanned stores quickly folded within a year as the innovation ended.
IIFI has also announced that it is on track to deploy 330 new and recovered autonomous stores by the end of 2021.