New Cooler Screens Software Predicts Consumer Intent
In-store digital merchandising platform Cooler Screens in January unveiled CoolerX, a software solution that uses AI and data science to identify precise marketing activation opportunities in stores for brands and retailers.
The smart screen software was developed in collaboration with Microsoft and Nvidia specifically for the in-store retail environment. According to a media release shared with the Path to Purchase Institute, CoolerX includes an “intent engine,” which uses AI to analyze data points gathered from consumer behavior, contextual signals and first-party retailer data.
Cooler Screens says it designed CoolerX to anticipate shopper needs and enable retailers and brand advertisers to deliver “highly targeted and relevant” information at the point of decision.
“Just as search engines and e-commerce sites know what consumers are interested in when online and serve them relevant content, we now can do the same inside brick-and-mortar stores,” Arsen Avakian, Cooler Screens’ co-founder and CEO, said in the release. “By understanding shoppers' intent and activating marketing content that is most relevant to the consumer experience, we drive sales growth for retailers and brands.”
The company says the CoolerX software uses a network of sensors and AI capabilities to offer advertisers real-time visibility of on-shelf availability, product location and movement. Those insights are then combined with a granular view of shopper browsing, engagement and conversion signals (e.g., proximity, dwell time, attention and actions), according to the company. This information is integrated within a closed-loop feedback system, which then fuels an AI-enabled recommendation engine to predict consumer intent.
Recommendations are integrated into an advertising platform, which enables brand advertisers to place marketing campaigns “dynamically and programmatically” at the precise point and moment a shopper is making a decision. Cooler Screens says this approach generates a deeper, more data-driven understanding of consumer interaction, similar to what is possible online, with real-time insights into shopper engagement and advertising performance.
CoolerX operates without gathering or using consumers’ personal data, and the algorithms were designed for the anonymous nature of brick-and-mortar shopping, per the release. Cooler Screens’ is backed by Microsoft and Verizon, and its software is already in operation at retailers including Kroger, Walgreens, Giant Eagle’s GetGo, Chevron and Western Union.