BGF Retail, Deeping Source to co-work on smart convenience stores

The two firms plan to introduce an AI-based system Plus Insight to track customer movement and interest in specific products

BGF Retail, Deeping Source to co-work on smart convenience stores
Jae-Kwang Ahn 1
2024-08-29 12:20:27 ahnjk@hankyung.com
Retail

BGF Retail Co., the operator of South Korea’s leading convenience store chain CU, said on Thursday that it signed a memorandum of understanding (MOU) with AI video analytics company Deeping Source on the previous day to implement smart convenience stores.

The two companies will utilize existing CCTV to monitor and analyze real-time store conditions.

The system will detect key elements such as product inventory, whether refrigerators are properly closed, and the cleanliness of sample stations. If immediate action is required, alerts will be sent to employees’ mobile phones.

The two companies plan to introduce an AI-based system called Plus Insight, which can track customer movement patterns, dwell time, and even their interest and gaze toward specific products.

This technology is expected to optimize product displays and improve inventory management, crucial for maximizing store sales.

BGF Retail emphasized that the technology uses anonymized data and has no privacy concerns.

Both conducted preliminary tests in around ten stores last year to implement AI video analytics. 

Write to Jae-Kwang Ahn at ahnjk@hankyung.com
#BGF Retail #CU #MOU #Deeping Source #AI vedio analytics #smart convenience #Plus Insight

BGF Retail’s CU looks beyond Kazakhstan deep into Central Asia

BGF Retail’s CU looks beyond Kazakhstan deep into Central Asia

CU's first Kazakhstan convenience store outlet in Almaty Kazakhstan, a Central Asian country 27 times the area of South Korea, did not have any modernized convenience stores until early this year.The country only had large marts and supermarkets, where people would go once in a while to buy gro

Convenience store giant BGF Retail signs IPR deal with YG Plus

Convenience store giant BGF Retail signs IPR deal with YG Plus

South Korea's BGF Retail, which runs the leading domestic convenience store chain CU, on Monday said it will sign a deal with YG Plus, which specializes in entertainment infrastructure and intellectual property rights (IPR), on K-pop marketing cooperation using CU infrastructure at home and ab

Korea's BGF Retail to cut power use with smart devices

Korea's BGF Retail to cut power use with smart devices

BGF Retail, the operator of South Korea’s largest convenience store chain CU, said on Thursday that it had signed a memorandum of understanding (MOU) with the Korea Power Exchange to introduce a power reduction automation system and conduct a demonstration project.This will be the first

Deeping Source turns visual data into info that drives business decisions

Deeping Source turns visual data into info that drives business decisions

Visual representation of how Deeping Source works Deeping Source Inc., an artificial intelligence (AI) analytics startup, turns real-life visual data into insight that can drive business decisions. The company’s Founder and CEO Kim Tae-hoon said, “Our AI algorithm can automatic
(* comment hide *}