As retailers globally were faced with unprecedented challenges brought upon by Covid-19 over the past year, artificial Intelligence became more essential than ever for the retail industry. In Hong Kong, the value of total retail sales fell more than 30% for the first eight months of 2020, compared to the same period in 2019.
Cosmose AI, the global retail tech AI company, noticed a dramatic surge in the combining of online and offline retail data. The company, which understands, predicts and influences how more than one billion people shop, leveraged its technology to help retailers better understand their customers and encouraged them to safely return to in-store shopping.
As a result, Cosmose AI clinched awards at Mob-Ex Awards 2021 and the MARKies Awards 2021 for its initiatives with K11, the global luxury lifestyle brand. The tech company was recognised for creating a campaign that would assess unprecedented challenges retailers faced amid COVID-19, as well as for its effective and impactful solutions to increase foot traffic.
As part of the efforts to promote “Our Muse” shopping festival at K11 MUSEA and the “SK-II Experience The Power of Pitera” campaign at K11 Art Mall, Cosmose AI’s technology was pivotal in attracting customers to view the promotion online and visit the pop-up to redeem vouchers offline.
Brand awareness was created through live-streaming events, e-shopping and virtual reality exhibition onsite. Then, using Cosmose AI technology, K11 launched shopping campaigns with digital tools to empower retailers to understand its customers and make multichannel recommendations.
“We’re thrilled to see our innovative technologies empower Asia’s most admired retailers through unprecedented challenges brought on over the past year,” said Miron Mironiuk, Cosmose AI’s Founder & CEO.
The company was awarded “Most Innovative Use of Mobile Technology" at the Mob-Ex Awards 2021, Asia's biggest mobile marketing awards.
The tech company, which raised $15M last year to bring its valuation to $100M, also clinched awards for the “Best Use of Digital Solution”, “Best Use of O2O Strategy" & the “Best Use of Technology'' category at the MARKies Awards 2021. The MARKies Awards are an annual celebration recognizing creativity, effectiveness and media execution across Hong Kong's marketing services industry.
"As a company, we believe in adding value to people and organizations through the power of our technology,” said Gordon Toh, Cosmose’s Chief Revenue Officer. "This is just the beginning as we’re expanding our technology across different markets with retailers and have even begun exploring partnerships beyond retail.”
This article is contributed by K11 and Cosmose AI.