Nestled in Hulhumalé 1, the Smart Store is located at the very spot where the former STO store used to operate, marking a transformational shift from traditional retail paradigms to a dynamic and futuristic shopping experience.
Source: STO
In a groundbreaking move that marks a significant leap in the realm of technological advancements, the State Trading Organization (STO) of the Maldives has introduced a state-of-the-art Smart Store, harnessing the power of Artificial Intelligence (AI) technology.
Nestled in Hulhumalé 1, the Smart Store is located at the very spot where the former STO store used to operate, marking a transformational shift from traditional retail paradigms to a dynamic and futuristic shopping experience.
STO's Managing Director, Abdulla Saeed, emphasized that the technology deployed in the Smart Store is unprecedented in the Maldives, with only a handful of similar smart shops in the entire region. This cutting-edge technology promises to revolutionize not just the retail landscape but also the way businesses operate and interact with customers.
To access the Smart Store's revolutionary shopping experience, customers need to download the "STO Smart Shop" application and complete the swift registration process. Once registered, customers can enter the store by scanning a unique QR code generated by the app, eliminating the need to wait at a cashier counter. Shoppers can peruse the store, handpick their desired products, and exit seamlessly as the app automatically processes their payment.
To ensure a smooth and personalized shopping experience, the Smart Store accommodates a maximum of eight customers at a time. However, customers shopping together can enter the store collectively with the assistance of security personnel.
According to STO's Chief Information Officer, Ismail Mifrah, the development of the Smart Store was driven by a synergistic fusion of cutting-edge technologies, including Artificial Intelligence, IoT (Internet of Things) sensors, and data science. The store's sophisticated system can recognize items available for sale based on their shape, colour, and weight, rendering the traditional barcode system obsolete.
IoT sensors have been strategically installed on all shelves, diligently tracking the number of items customers remove from them. Additionally, strategically placed cameras meticulously observe customer behaviour within the store, facilitating valuable data collection on the most popular and least favoured products purchased by shoppers. This treasure trove of insights into customer preferences and shopping patterns empowers the Smart Store to optimize its product offerings, personalize recommendations, and elevate the overall shopping journey.
As the Maldives continues to embrace technological advancements, the launch of the Smart Store serves as a harbinger of progress and innovation in the retail industry. STO's Smart Store embodies the vision of a tech-savvy and customer-centric future, revolutionizing the way Maldivians shop and reinforcing the country's reputation as a dynamic hub of technological excellence.
