Fainders.AI Launches Affordable Cashierless MicroStore in Gym

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Sep 06, 2024, 08:00 ET

- Plug-and-play autonomous retail solution brings automation within reach of small businesses

SEOUL, South Korea, Sept. 6, 2024 /PRNewswire/ -- Fainders.AI, a Korean retail AI company, has unveiled its latest autonomous stores: a compact, cost-effective cashierless MicroStore. The 15-square-meter prefabricated unit can be installed in any available space within a week, making autonomous retail accessible to a broader range of businesses.

The MicroStore has been deployed in a gym, offering members convenient access to healthy snacks during their workouts. This installation marks a significant step in bringing advanced retail technology to smaller, specialized locations.

Fainders.AI Launches Affordable Cashierless MicroStore in Gym

"The MicroStore is not just a smaller autonomous store. Through the standardization of the design and installation process, we have made the autonomous store even more affordable than when we launched our first store a year ago," said Myungwon Ham, Founder and CEO at Fainders.AI.

While plug-and-play autonomous stores have been emerging in the market over the past two years, the Fainders.AI MicroStore stands out for its competitive pricing, making it the first such solution contracted by small and medium-sized businesses (SMBs). The initial client, 'Fitness 101,' a local gym in Seoul, exemplifies the expanded target segment, which now includes various retailers and space owners with limited purchasing power.

Fainders.AI is kicking off its global expansion with the latest solution. The Korea-based startup is already in discussions with several clients across Asia.

"Retailers in Asia are under pressure due to staff shortages, and the pricing of retail automation solutions from US-based vendors has been appalling. With our offering, these retailers are beginning to seriously consider adopting it," adds Myungwon Ham, CEO of Fainders.AI.

[About Fainders.AI]

Founded in 2020, Fainders.AI is a Korean retail AI startup developing autonomous store solutions. Our mission is to enhance store owners' profitability and bring convenience to in-store customers. Our innovative solution goes beyond checkout-free payments, offering inventory management and in-store customer analytics. We provide offline retailers with this cutting-edge technology at a fraction of the cost that is one-third of our closest competitor's. Fainders.AI has already partnered with the largest convenience store brands in South Korea.

SOURCE Fainders.AI