Your local grocery store’s freezer aisle will soon have a completely different aesthetic as smart screen developer Cooler Screens aims to integrate AI into showcases to promote to in-store customers. There is a possibility that
Cooler Screens CEO Arsen Avakian spoke with Yahoo Finance to discuss the services this technology provides to consumers.
“Shoppers are used to static analog, digital, and paper signage in-store while shopping. So, like Google and Netflix, we wanted to create We’ve built technology that understands what people are interested in. We provide dynamic, engaging, and relevant content that people can choose from based on their budget constraints, dietary needs, and other considerations. I hope this helps you find the product…”
Avakian explains how this technology works and how leading companies in the food industry are responding to this opportunity.
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor’s note: This article was written by luke carberry morgan.
video transcript
– Now, the next time you buy ice cream at the supermarket, the aisle might look a little different. Cooler Screen uses AI to transform the way shoppers see advertising in-store. For more information, please join our CEO Arsen Avakian.
Arsene, my first question is why? Because I don’t have a better question. In other words, I don’t think many people look at a cooler at the grocery store and think, “I wish there were ads on it.”
But clearly you sensed an opportunity. How did something like that happen?
Arsen Avakian: Hello. Hello. Thank you for inviting me. See, it’s not really about the cooler or anything else.
In-store marketing remains one of the last untapped areas of digitalization. Therefore, technology is inevitably looking for ways to bring digital power into the physical world. And we started with the drinks aisle.
But we’re implementing this across our stores so that shoppers, retailers, and brands can actually connect in a way that’s more relevant and powered by the technology and AI behind it. did.
– And how exactly does digitizing something like a freezer surface benefit consumers?
Arsen Avakian: So think about this through the lens of a search engine or your Netflix TV at home. You want to see information that’s relevant to you, right? Your family watches recommended shows that are meaningful to you.
The same goes for the search results displayed in your browser. In a very similar way, shoppers have become accustomed to analog and digital paper signs that remain stationary in-store while shopping. So, like Google and Netflix, we built technology that understands what people are interested in when they shop in-store and delivers dynamic, engaging and relevant content. .
And we hope it helps people find products that meet their budget constraints, dietary needs, or other considerations they typically have when considering products in stores.
– Mr. Arsene, what kind of demands are you hearing from advertisers and businesses here? I know you guys have a deal with Kraft Heinz. What about other big food companies? How do they view this?
Arsen Avakian: Yes, certainly. The platform has over 200 active advertisers. The value we invented isn’t actually new, in-store marketing has been around forever, right?
All we did was recognize the need to help marketers understand the performance of their ad buys by bringing analog marketing into the new digital age. It helps them understand these micro-segments and the opportunities to connect the intent of what I say with the content to drive more performance for the business.
– So, Arsene, I wonder what’s going to happen–you’re shopping, right? What if the product shown on the display is not in the actual freezer?
Arsen Avakian: Well, when we talk about form factors, we’re referring to coolers and freezers. We’ve built smart vision AI capabilities. So there’s a camera on the back of the screen that’s constantly scanning what products are on the shelf and which aren’t.
As a result, you can always tell shoppers what’s in stock and what’s out of stock. And it also tells brands whether or not to promote. So even if you run out of Diet Coke, you might still be able to connect with shoppers and promote Regular or Cherry Coke. And we can’t afford to be taken over by our competitor Pepsi, right? As an example.
So these are all different use cases. However, Vision AI offers us similar proxy functionality that websites clearly benefit from. When you shop on Amazon and other websites, you always know what’s in stock and what’s not. They don’t show anything that isn’t available. And that functionality is now being brought to the physical environment.
– Arsene, that’s a really interesting technique. Thank you very much for taking the time to explain. appreciate.
Arsen Avakian: of course.
