in-store retail

Verizon Business and Deloitte have announced a 5G and mobile edge computing retail industry digital platform designed to provide retailers with the ability to “gain significant efficiencies in their retail operations and transform customer experiences.”

In coupling Verizon’s 5G and mobile edge compute with Deloitte’s retail industry and solution engineering experience, the companies’ goal is to improve store operating efficiency and enhance the customer experience. According to a statement released by the companies, the platform will “drive automation with near real-time monitoring, analytics, and insights within stores, distribution centers, and warehouses, enhancing operations, enabling customer personalization, and improving inventory productivity.”

Further, the platform aims to enhance the in-store experience by addressing common challenges facing retailers including out-of-stock items, planogram compliance, and frictionless, cashier-less checkouts.

To bring the solution to retailers, Verizon Business and Deloitte have also collaborated with SP to integrate SAP’s software suite, including SAP Customer Activity Repository and SAP S/4HANA to the platform.

“The opportunity for 5G and [mobile edge computing] to enable frictionless retail experience and improve asset productivity should have a seismic impact on the retail industry,” said Anthony Stephan, principal at Deloitte Consulting LLP, and U.S. Consulting consumer industry lead. “Our collaboration with Verizon Business and SAP enables us to efficiently and effectively address the concerns of retailers today, providing a best-in-class digital transformation experience that can respond and deliver at the speed of 5G.”

According to the companies, enabling these technologies will serve retailers’ “sustainable business performance and profitability acceleration across key levers, such as revenue, cost of goods sold, and operating margin.”

“It’s an exciting moment to unveil this innovative retail collaboration with Deloitte and SAP,” said Tami Erwin, chief executive officer at Verizon Business. “We are entering a new era of technology-led disruption at the exact same moment every retailer is looking to accelerate digital transformation, increase productivity and improve customer experiences. We’re ready to open the doors to Verizon’s transformative 5G and mobile edge compute platform and look forward to helping our customers reimagine everything from their employee experience and supply chain to end-customer use cases.”

For More WWD Business News: 

Amex Brings Back Its Rose Gold Design, a Consumer Favorite

Visa’s Latest Report Makes Recommendations for Recovery and Resilience

Reigniting Growth by Fueling the Consumer Experience