Dive Brief:

• VenHub, an automated retail technology company, plans to launch its first fully automated convenience store in the first quarter of 2024, according to a recent announcement.
• The first set of stores are expected to launch in Las Vegas, Austin and New York City, a spokesperson said in an email. Beta versions should follow later that year, with plans to begin selling the concept by the end of 2024.
• VenHub will enter a crowded field, with players like Amazon, AiFi and Zippin already testing the waters of automated convenience stores.

Dive Insight:

VenHub’s technology diverges from many of these competitors in a way that maintains the labor savings but makes theft from the location more difficult as well.

While most automated checkout systems use cameras and sensors to track customers through the store and record what they pick up, VenHub has customers order through its mobile app, and then its AI-powered robots do the shopping. In addition to needing fewer workers, this could address shrinkage concerns for retailers.

The three initial locations chosen for VenHub’s first rollout were picked because they offer a “unique blend of diverse consumers and high visibility, which are integral to showcasing the innovative nature of our VenHub stores,” according to the spokesperson.

While the company spokesperson said customers have preordered VenHub’s technology, the first locations will be entirely company owned and operated. 

“We see this as an important opportunity to gain firsthand insights and optimize operations for our autonomous stores,” the spokesperson said. 

VenHub said it’s looking to enter the c-store industry because of the scope and ubiquity of the space, as well as the number of independent operators who may need automated solutions. But it plans to eventually use its modular design in less traditional places like at events or in parking lots.

VenHub is a subsidiary of Wyoming-based Autonomous Solutions, Inc.