AI generated advertising aims to change the way people shop with vivid imagery on coolers

Yahoo Finance
24 Feb 202404:30

TLDRCEO Arson Aaki discusses the innovative use of AI in transforming in-store advertising with cooler screens. The technology digitizes the surfaces of freezers and coolers, allowing for dynamic and relevant content to be displayed to shoppers. By understanding consumer interests, the AI provides tailored ads, similar to personalized search engine results or Netflix recommendations. This approach benefits consumers by helping them find products that fit their budget and dietary needs. The system also features a 'Clever Vision AI' that scans products on shelves to inform shoppers of in-stock items and assists brands in optimizing their promotional efforts. With over 200 active advertisers, the platform offers a new dimension to in-store marketing, enhancing the shopping experience and providing valuable insights for advertisers.

Takeaways

  • 🛒 AI technology is revolutionizing in-store advertising by digitizing traditionally static spaces like cooler doors.
  • 👨‍💼 Arson Aaki, the CEO, highlighted the transformation of in-store marketing, one of the last areas to experience digital innovation.
  • 📊 The technology tailors advertisements to be more relevant to shoppers, similar to personalized recommendations on platforms like Google and Netflix.
  • 🔍 By digitizing cooler surfaces, consumers receive dynamically updated, relevant content that can cater to specific needs like budget or dietary restrictions.
  • 💡 Over 200 advertisers, including major brands like Kraft Heinz, utilize the platform to enhance the effectiveness of their in-store promotions.
  • 📈 The digital ads allow marketers to track the performance of their campaigns and better understand consumer behavior in real time.
  • 👀 Vision AI technology is used to monitor stock levels behind cooler screens, ensuring advertised products are available.
  • 🔄 If an advertised item is out of stock, the system can suggest alternatives, preventing loss of sales to competitors like in the example of Coke vs. Pepsi.
  • 🛍️ This innovative advertising method aligns consumer intent with content, improving shopping experiences and business outcomes.
  • 📝 The integration of AI in physical retail environments mirrors online shopping benefits, such as always knowing the availability of products.

Q & A

  • What is the main goal of Cooler Screens' AI technology in grocery stores?

    -The main goal is to transform in-store marketing by digitizing the surfaces of coolers and freezers, allowing for dynamic, relevant, and appealing ads that connect shoppers, retailers, and brands more effectively.

  • How does the AI technology personalize the shopping experience for consumers?

    -The AI technology works similarly to search engines or streaming services like Netflix, understanding the interests of people when they are shopping and providing them with relevant content based on their preferences, budget constraints, dietary needs, and other considerations.

  • What kind of demand is Cooler Screens hearing from advertisers?

    -Cooler Screens has over 200 active advertisers on their platform, with big food companies like Kraft Heinz showing interest. The value lies in bringing analog marketing into the digital age, allowing marketers to understand the performance of their advertising and connect with micro segments for better targeting.

  • How does Cooler Screens' technology ensure that the displayed ads match the in-stock products?

    -They have built a 'Clever Vision AI' capability with cameras on the back of the screens that constantly scan the products on the shelf. This allows them to inform shoppers about what's in stock and out of stock, and also informs brands about which products they should promote.

  • What happens if a shopper sees an ad for a product that is not in the actual freezer?

    -The 'Clever Vision AI' system ensures that the ads displayed are for products that are in stock. If a product is out of stock, the system can suggest alternatives to the shopper, preventing competitors from taking over the promotion space.

  • How does the Cooler Screens technology benefit retailers?

    -The technology benefits retailers by providing a new avenue for in-store marketing that is more relevant and engaging for customers. It also allows retailers to offer a more personalized shopping experience and to better manage their inventory by knowing what products are frequently out of stock.

  • What is the potential impact of Cooler Screens' technology on the way brands market their products?

    -The technology allows brands to have a more targeted and measurable approach to their in-store marketing. They can understand the performance of their advertising buys and connect with consumers based on their intent and preferences, potentially leading to increased sales and customer engagement.

  • How does the Cooler Screens technology differ from traditional in-store marketing methods?

    -Unlike traditional static signage, Cooler Screens' technology offers dynamic digital content that can be updated in real-time. This allows for a more engaging and interactive shopping experience, as well as the ability to show only available products, similar to online shopping experiences.

  • What are some of the challenges that Cooler Screens might face in implementing this technology in grocery stores?

    -Challenges might include the cost of installation and maintenance, ensuring the technology is user-friendly for both shoppers and store employees, and addressing any privacy concerns related to the use of cameras and AI for product scanning and ad personalization.

  • How does the Cooler Screens technology address the issue of out-of-stock items in grocery stores?

    -The 'Clever Vision AI' system can detect when items are out of stock and adjust the displayed ads accordingly. This prevents shoppers from being misled by ads for unavailable products and helps maintain a positive shopping experience.

  • What is the potential role of Cooler Screens' technology in reducing food waste in grocery stores?

    -By accurately displaying what products are in stock, the technology can help reduce over-ordering and overstocking, which can contribute to food waste. It also allows stores to better manage their inventory and promotions, potentially reducing the amount of unsold, perishable items.

  • How does the Cooler Screens technology impact the overall shopping experience for consumers?

    -The technology enhances the shopping experience by providing a more personalized and interactive environment. Shoppers can receive tailored recommendations and information, making it easier to find products that meet their needs and preferences, which can lead to a more satisfying and efficient shopping trip.

Outlines

00:00

🛒 AI in Retail: Transforming In-Store Marketing

The CEO of Cooler Screens, Arson Aaki, discusses the innovative use of AI to transform in-store marketing, specifically in the context of grocery shopping. He explains that while static signage has been the norm, digitization is now bringing a new level of relevance and personalization to shoppers. The technology, which started in the beverage aisle, has expanded across the store, allowing for dynamic and appealing content that caters to consumers' interests, budget, dietary needs, and other considerations. Aaki emphasizes the importance of digitizing physical spaces to connect shoppers, retailers, and brands in a more meaningful way.

Mindmap

Keywords

💡AI generated advertising

AI generated advertising refers to the use of artificial intelligence to create and display advertisements. In the context of the video, this technology is applied to transform in-store cooler screens, making ads more dynamic and personalized for shoppers. It helps to bridge the gap between traditional static signage and the interactive, data-driven world of online advertising.

💡In-store marketing

In-store marketing is the practice of promoting products or services within a retail environment. The video discusses how traditional in-store marketing has been one of the last areas to undergo digitization. The CEO highlights that their technology aims to bring the power of digital into the physical world of shopping, enhancing the relevance and effectiveness of in-store marketing.

💡Digitization

Digitization is the process of converting information into a digital format. In the video, the CEO talks about how technology is being used to digitize the surfaces of freezers and coolers in stores, allowing for more relevant and dynamic advertising content to be displayed to consumers.

💡Relevant content

Relevant content refers to information that is pertinent to the individual's interests, needs, or context. The video explains that the AI technology can provide shoppers with content that is tailored to their interests, similar to how search engines or streaming services like Netflix recommend content.

💡Dynamic signage

Dynamic signage is a type of digital display that can change and update in real-time. In the video, the company has implemented technology that allows for dynamic and appealing advertisements on cooler screens, which can adapt to the shopper's preferences and the store's inventory.

💡Vision AI

Vision AI is a term that refers to artificial intelligence systems that can interpret and analyze visual data. In the context of the video, the company has developed a Vision AI capability that uses cameras to scan products on shelves, enabling the system to inform shoppers about in-stock and out-of-stock items, and to adjust advertisements accordingly.

💡Stock management

Stock management involves the control and oversight of the inventory in a retail setting. The video discusses how the AI technology can help with stock management by providing real-time updates on what products are available, which can inform both the shopper's purchasing decisions and the retailer's promotional strategies.

💡Micro-segments

Micro-segments are small, specific groups within a larger market segment. The video mentions that the AI technology allows advertisers to understand and target these micro-segments, enabling more precise and effective marketing campaigns.

💡Performance of advertising

The performance of advertising refers to how well an advertisement achieves its intended goals, such as increasing sales or brand awareness. The CEO explains that the AI technology gives marketers the ability to understand the performance of their advertising buys, which can lead to more effective campaigns.

💡Intent with content

Intent with content means aligning the marketing message with the consumer's intent or interest. The video script discusses how the AI system can connect a shopper's intent with relevant content, driving better performance for the advertisers.

💡Physical environment

Physical environment refers to the tangible, real-world setting where an action takes place. In the video, the CEO talks about bringing the capabilities of online shopping, such as knowing what's in stock, into the physical environment of a grocery store through the use of AI technology.

Highlights

AI technology is transforming in-store advertising with dynamic and relevant content on cooler screens.

Cooler Screens is digitizing in-store marketing, an area that has been largely untouched by technology.

The technology allows shoppers, retailers, and brands to connect in a more relevant way through digitized cooler surfaces.

Dynamic and appealing ads are provided to shoppers based on their interests, similar to personalized content on Netflix or Google.

The system helps shoppers find products that align with their budget, dietary needs, or other personal considerations.

Cooler Screens has over 200 active advertisers on their platform, indicating a strong demand for this type of advertising.

The platform gives marketers the ability to understand the performance of their advertising and target micro-segments effectively.

If an item shown in the ad is out of stock, the system can suggest alternatives to connect with the shopper.

Cooler Screens has developed a 'Clever Vision AI' capability that uses cameras to scan products on shelves and inform shoppers of stock status.

The AI informs brands when they should or should not promote a product based on real-time stock information.

The technology prevents competitors from taking over the advertising space when a product is out of stock.

Vision AI provides a proxy capability similar to online shopping platforms, showing only available products to shoppers.

The integration of AI in physical retail environments is a significant step towards a more personalized and efficient shopping experience.

The CEO of Cooler Screens, Arsen Avakian, discusses the innovative use of AI in enhancing in-store shopping with personalized ads.

The technology is designed to make the shopping experience more engaging and to help shoppers find products that suit their needs.

Cooler Screens' AI-driven advertising aims to bring the power of digital marketing into the physical retail space.

The system is an example of how technology can be used to bridge the gap between online and offline shopping experiences.

The implementation of AI in cooler screens is expected to change the way people shop by providing vivid and personalized imagery.