What are Retail Digital Twins?
Virtual counterparts that unlock automation potential for retailers and CPG brands
A Digital Twin is a virtual replica of a real world thing, including people, objects, and even entire places.
In retail, Digital Twins primarily include virtual recreations of Stock-Keeping Units and the environments in which they exist in the real world i.e. grocery products on supermarket shelves.
Retail Digital Twins replicate real world Consumer Packaged Goods and Fast Moving Consumer Goods in a virtual environment. This provides computer software like Synthetic Computer Vision with the necessary visual data (Synthetic Data) to learn how to recognise those products in images and videos.
Retailers worldwide lose a mind-blowing $634 Billion annually due to the cost of poor inventory management with 5% of all sales lost due to Out-Of-Stocks alone.
Neurolabs helps optimise in-store retail execution for supermarkets and CPG brands using a powerful combination of Computer Vision and Synthetic Data, called Synthetic Computer Vision, improving customer experience and increasing revenue.