Genieomics - An Introduction

Genieomics is an emerging technology products and services company addressing the needs of worldwide retailers - bringing a new dimension to the term "Sales Force Automation." Rather than empower a sales force with technical tools, scheduling and training, the Genieomics core product assists or replaces the sales associate with a friendly, engaging, and effective technology solution.

For the purposes of this introduction, we will focus on the core product line - the RetailGenieTM.

The current state of retail sales, fundamentally unchanged for over 150 years, is failing to meet the needs of the retail establishment and its customers. Employee turnover, complex training requirements, and other spiraling labor costs are among the chief concerns of operations officers for retail establishments throughout North America and Europe. While the catalogue sales segment is growing, on-line sales for the retailer raised revenue expectations but have consistently failed to perform. In response, retailers have increased their spending on experimental self-serve technologies, such as the automated checkout or the in-store kiosks, with disappointing results.

Genieomics responds to this global problem by introducing an idealized sales associate, delivered to the retail client in a pleasing, efficient and practical form factor. The objective of the Genie is to deliver all the information and services that a live, expert sales associate would provide, including cross-selling, up-sales, recommendations and advice.

The RetailGenie (patent pending), is composed of the following components:

  • a small client device which the shopper carries around the retail store. The device is composed of a handheld unit with elementary controls, an embedded barcode scanner, a wireless network connection, and a monaural audio jack with microphone;
  • an advanced in-store digital wireless network service;
  • a comprehensive library of audio descriptions of the store's merchandise, tailored to the particular needs of that store;
  • an application server that provides special services to clients (article locator, gift recommendations, wish list, personalization services, live help);
  • a business intelligence service that tracks the customer's activities and usage of the Genie, which provides exciting new perspectives on store layout, display positioning, and customer shopping habits.

The anticipated cost of the system, including basic services and an introductory quantity of handheld units, is in the $250,000 to $350,000 range for the first store in a chain. The proposed return-on-investment is realized in staff reductions, increased sales prospects due to a unique in-store offering, and increased overall sales. Given the size of the current market, and the fact that these combined services are not available elsewhere, the possibilities are very exciting for North America, Europe, and selected parts of Asia.

Genieomics, a company held entirely by Accelerated Ventures, has completed the initial research and design phases of the project, and is currently engaged in developing a working prototype. We have contacted a select number of key customers in Canada and the United States to help validate the basic claims and deploying this new service as a pilot.