VenHub Aims To Transform Traditional Retail With Self-Serve Stores

In a society increasingly focused on instant gratification, traditional retailers may be coming up short. Sure, many have curbside pickup and same-day delivery, but if a consumer wants a product at three in the morning, they're usually out of luck.

VenHub, an AI startup hailing out of Pasadena, California is trying to change that. Leveraging AI and advanced robotics, VenHub makes what it calls autonomous "Smart Stores." 

The stores, which utilize data-driven inventory management, a self-service delivery system via a robotic arm and advanced security protection, give consumers access to products whenever they want them without the need for human intervention. VenHub says these Smart Stores also save retailers money by reducing labor costs, more effectively managing inventory and potentially growing revenue with round-the-clock operations. The company has a pre-order backlog of over 1,000 orders which it says may amount to revenue of more than $300 million. 

Quick, Easy And Automated 

VenHub's Smart Stores are modular by design, which it says allows for quick installation and easy customization to meet the needs of a variety of retailers and consumers. They can be customized to sell everyday essentials, consumer technology or specialty items merchandised to suit the location or season.

The prefab VenHub Smart Store is an expandable 220-square-foot plug-and-play storefront technology that can be delivered, unpacked and installed in just a few days. Once operational, the company says the stores are fully autonomous and fully monitored, requiring no employees to operate and costing a fraction of maintaining a traditional brick-and-mortar store.

The company has three business focuses: fixed Smart Stores, mobile Smart Stores and upgrades to existing retail spaces. VenHub says it's tapping the growing demand for autonomous retail solutions that is being spurred on by the need among traditional retailers to cut costs and boost sales. By eliminating workers and streamlining inventory, retailers can reduce expenditures. By keeping the doors open for extended periods of time, they can potentially increase sales. 

According to VenHub, the potential global addressable market for its self-serve retail kiosks is $2 trillion across convenience stores, traditional retail and gas stations.

"This is day one for VenHub on a larger stage," Shahan Ohanessian, CEO of VenHub. "We're at the starting line of what I believe will be a remarkable journey, turning our vision into reality and expanding our reach on a global scale. We’re not just joining the market; we’re aiming to pioneer a new frontier in smart retail that enhances how businesses and consumers connect."

No Longer Just A Concept 

In addition to inking a deal that will take VenHub public, the company recently announced the launch of the first fully autonomous Smart Store in North Hollywood, California. The new Smart Store, which was sold to one of VenHub's customers, carries over 400 product SKUs and is equipped with six smart refrigerated cabinets, four dry cabinets and four delivery windows that can serve multiple customers at once. With the VenHub App now live in the Apple App Store and Google Play Store, VenHub says consumers can enjoy faster and more convenient access to products around the clock. The launch of the first Smart Store is the beginning of what the company says is a wider rollout in Southern California and throughout the U.S. 

"We will soon be releasing our launch plans across the United States, and we know our customers want their Smart Stores sooner rather than later," said VenHub's CEO Ohanessian."We are working diligently to meet the very high demand, and we thank our 1,000-plus pre orders for their support and patience. At the same time, we are relentlessly increasing our production capacity to ensure each VenHub Store is smarter, faster and more convenient for store owners and consumers alike."

Many modern consumers want instant gratification and access 24/7. VenHub is aiming to deliver that with its Smart Stores. With more forecasted expansion and the company's balance sheet growing, there may well be a Smart Store coming to a location near you. 

Featured photo courtesy of VenHub.

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