As we wrap up from the whirlwind that was NACS 2024, one thing is clear: the future of retail is powered by AI and computer vision. The National Association of Convenience Stores (NACS) Show brought together industry leaders to discuss trends, challenges, and innovations that are transforming the retail landscape – and we were right in the middle of it all. 

For Standard AI, this event wasn’t just about showing off our latest technology – it was about connecting with retailers, brands, and industry experts who are looking to the future. Our flagship product, VISION, sparked some of the most exciting conversations we had on the floor. 

The Power of AI in Retail

At this year’s show, the role of AI wasn’t just theoretical; it was practical, tangible, and top of mind for everyone we spoke with. Retailers are no longer asking, “what is AI?” – they’re asking how they can use it to solve pressing issues, whether it’s optimizing inventory, measuring the impact of in-store media, tracking new product launches, or gaining real-time insights to enhance overall store performance.

For Standard AI, we’re helping retailers gain deeper insights into shopper behavior and streamline their operations – all while maintaining a privacy-first approach.

Key Highlights from NACS

In-Store Retail Media

A key trend we noticed at NACS was the growing focus on in-store retail media. Retailers and CPG brands are increasingly looking for ways to engage shoppers at the point of purchase, and digital signage or interactive displays are emerging as critical tools. With VISION, we help retailers understand how shoppers engage with in-store media, optimizing its impact on sales and customer engagement.

A CPG marketing leader commented, “This technology is providing the missing link between in-store media and sales performance. It’s invaluable for optimizing our media strategy.”

Privacy-First Solutions

As technology advances, retailers are increasingly concerned with data privacy. One of the most common questions we heard at the booth was, “How do you protect shopper data?” We’re proud to say that VISION is built with privacy in mind – no facial recognition, and all data remains on-premise. This emphasis on privacy resonated with many attendees.

Key Conversations Around VISION

At NACS 2024, the conversations around VISION were some of the most energizing moments for our team. Here are the three use cases we discussed with retailers and brands:

1. 1. Optimizing Promotions
      Promotions are vital for driving sales, but tracking their effectiveness in real-time has always been a challenge – until now. With VISION, retailers can monitor the success of in-store promotions and make data-driven adjustments on the fly, ensuring that the right promotions maximize sales impact.
      
   2. Measuring In-Store Media Impact
      Retailers are investing heavily in in-store media, but many struggle to measure its true impact. VISION provides real-time insights into shopper engagement with in-store media displays, allowing brands to refine their strategies and optimize media placements to drive conversion. 
   3. Tracking New Product Launches
      Launching a new product is risky, but real-time data helps reduce uncertainty. VISION tracks shopper interaction with new products, giving retailers instant feedback on whether a product is gaining traction. This allows for faster decision-making on product placement and promotional efforts to boost performance.

What’s Next? Turning Insights into Action with VISION

As we look ahead, we’re excited to continue pushing the boundaries of what’s possible with AI and computer vision. Our Visual Engagement Score – which we introduced at NACS – generated significant interest, and we’re eager to see how it can help retailers and brands gain even deeper insights into shopper behavior.

Thank you to everyone who stopped by our booth at NACS 2024! It was a fantastic week of learning, connecting, and sharing ideas about the future of retail. If you missed us, don’t worry – there’s still time to schedule a personalized demo of VISION and see how real-time insights can transform your retail performance.

Cheers from the entire Standard AI team, and here’s to the future of retail!