Intel (Nasdaq: INTC) plans to invest more than $100m over the next five years in the retail industry.
The investment will go toward enabling retailers to unify every part of the retail operation supporting Intel’s wider efforts to integrate Internet of Things and other technologies into retail – from inventory management to checkout – through its solution portfolio and ecosystem of solution providers.
The computing giant is also introducing the Intel® Responsive Retail Platform (Intel® RRP), which aims to deliver a deep understanding of how stores and people interact by collecting multiple data streams to connect digital and physical environments. With the goals of lowering costs and increasing sales, the solution helps retailers optimally place inventory, deploy employees and other resources, and track inventory through the supply chain to the store. It provides in-the-moment information about what customers are buying, what they want and how to manage inventory so it arrives just in time for customers to take it home.