Verizon Business and Deloitte have unveiled a new digital platform to bring the benefits of 5G to the retail industry. The partnership pairs Verizon's 5G and mobile edge compute with Deloitte's retail expertise and aims to enhance customer experiences and operational efficiency.
The platform incorporates video and sensors, AI, and augmented reality with "near-real-time analytics" to help stores better engage with customers, manage inventory, and ensure employee productivity. Together, retailers will have an easier time addressing challenges including out-of-stock items and frictionless checkout.
In addition to the partnership, the platform is also integrated with SAP's software suite, including SAP Customer Activity Repository and SAP S/4HANA in the platform, enabling retailers to accelerate business performance across multiple channels such as revenue, cost of goods, and operating margin.
“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," said Tami Erwin, CEO, Verizon Business.
“The opportunity for 5G and MEC to enable frictionless retail experience and improve asset productivity should have a seismic impact on the retail industry. 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," added Anthony Stephan, principal, Deloitte Consulting LLP, and US Consulting consumer industry lead.