LAS VEGAS, Dec. 10, 2018 /PRNewswire/ -- Remark
Holdings, Inc. (NASDAQ: MARK), a diversified global
technology company with leading artificial intelligence (AI)
technologies and digital media properties,
including Vegas.com, today announced that the KanKan AI Retail
system for large-format supermarkets has been generating strong
results since its launch. After several months of
implementation and testing, the KanKan Retail AI system was
successfully launched last month in the new CP Lotus Supermarket
store in XuZhou, Jiangsu Province,
China. The system uses KanKan's facial recognition, gesture
recognition, and product recognition technologies as well as
KanKan's Data Analytics platform to improve Lotus's membership
system and provide insight regarding customer shopping
behavior. The information provided by KanKan helps CP Lotus
management understand customer needs, improve marketing, and most
importantly, to convert non-membered shoppers into loyalty
members.
The KanKan AI Retail system at CP Lotus is a multi-faceted
deployment with augmented reality-based interactive displays set up
for customers as they enter, as well as cameras and sensors placed
throughout the store. The interactive displays provide an
engaging and fun way for shoppers to enhance their in-store
experience, and include a portal to register new members as well as
a way for customers to redeem coupons tailored to their shopping
behavior. The KanKan Data Analytics platform helps understand
customers' needs, shopping path, shopper heatmap, and monitor real
time product sales details to deliver key insights that improve
store operations and product marketing in real time. In the
first week since its launch, the KanKan AI Retail system created
over 13,725 virtual members for CP Lotus and converted almost 4,000
new registered members, representing a 29% conversion rate.
The system also connected 5,297 members with CP Lotus on
social media, and KanKan's product recommendation algorithm sent
2,544 personalized coupons with a very strong 71% conversion
rate.
"We are very excited to be successfully launched with CP Lotus
and to see such robust results from our AI implementation so
quickly," said Kai-Shing Tao,
Chairman and CEO of Remark Holdings. "The feedback from Lotus and
CP Group executives has been very strong. We look forward to
expanding the scope of our technology deployment as we help CP
Lotus build the smart retail stores of the future, and we expect to
expand to more CP Lotus stores in the months ahead."
CP Lotus Supermarkets is one of the leading retail operators in
China and is an affiliate of
conglomerate CP Group, one of the world's largest companies based
in Asia. Remark is working with CP Group to deploy KanKan in
other parts of their operating businesses across different
industries. CP Group made a strategic investment in Remark
Holdings at the end of 2017.
About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated
suite of AI solutions that enable businesses and organizations to
solve problems, reduce risk and deliver positive outcomes.
The company's easy-to-install AI products are being rolled out in a
wide range of applications within the retail, financial, public
safety and workplace arenas. The company also owns and
operates digital media properties that deliver relevant, dynamic
content and ecommerce solutions. The company is headquartered in
Las Vegas, Nevada, with additional
operations in Los Angeles,
California and in Beijing,
Shanghai, Chengdu and Hangzhou, China. For more information, please
visit the company's website at www.remarkholdings.com.
Company Contact:
Alison Davidson
Remark Holdings, Inc.
adavidson@remarkholdings.com
702-701-9514
Investor Relations Contact:
Colton Krueger
The Plunkett Group, Inc.
Colton@ThePlunkettGroup.com
210-602-4078
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SOURCE Remark Holdings, Inc.