VenHub Offers Fully Autonomous AI-Driven Smart Stores, With Plans To Revolutionize Retail – Investors Can Get Early Access To This Future-Focused Company Until August 21st
Detroit, Michigan
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August 09, 2024 08:45 AM Eastern Daylight Time
By Anthony Termini, Benzinga
Travelers who get to the airport early often show up before the cafes and retailers inside are open for business. As these same wayfarers stroll the quiet terminals, they often see standalone kiosks making available everything from headphones to wireless charging pads. Vending machines have, without doubt, revolutionized retail, and one California company has a plan to take the unattended retail venue to an entirely new level by leveraging AI.
“Imagine If A Grocery Store And A Vending Machine Had A Genius Baby”
VenHub, based in Pasadena, is taking pre-orders on its fully autonomous and robotic-operated Smart Stores that rely on advanced technologies to offer a seamless shopping experience for customers. The stores use an app-based ordering system that makes items available to consumers 24/7.
Using artificial intelligence and smart inventory management systems, the stores generate revenue around the clock. 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 800-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.
VenHub’s Value Proposition Addresses A Huge Potential Market Opportunity
Data from the National Association of Convenience Stores (NACS) shows that retailers carrying only a limited range of household goods and groceries collectively generated more than $327 billion of in-store sales in 2023. The average purchase per customer visit was less than $8.00, according to NACS.
As such, the opportunity to make shopping more convenient by placing a fully autonomous store in high-traffic locations potentially creates an enormous opportunity. VenHub estimates that it is addressing a $650 Billion market.
To put VenHub’s market opportunity into perspective, consider Grainger Industrial Supply (NYSE: GWW). Grainger’s “KeepStock Vending Program” puts fully stocked vending machines in customers’ actual locations. Those small vending machines account for approximately $1 billion of Grainger’s annual sales.
In a similar fashion, VenHub’s standalone Smart Stores could be a complement inside or outside of a convenience, cosmetics, electronics or grocery store, or even a pharmacy. They can be set up in airports, at colleges or in and around sports venues.
In addition to selling the physical structures, VenHub projects that both software and maintenance fees will help the company achieve gross margins in excess of 50% and EBITDA margins near 37%.
Shahan Ohanessian, VenHub’s CEO, says that the company “is at the forefront, spearheading initiatives that ensure safer, smarter, and smoother shopping experiences.”
VenHub Is Getting Pre-Orders From Around The World
The company, which in July announced a strategic non-binding Letter of Intent with a renowned NASDAQ-listed Special Purpose Acquisition Company to make VenHub public, has already secured pre-orders from more than 800 retailers around the world. According to company sources, that represents more than $240 million in potential sales.
VenHub believes the pending alignment with a NASDAQ-listed entity will heighten its visibility and increase investor confidence by broadening its access to global capital markets. Public companies with broad access to capital are better able to fast-track growth, innovate their product offering and expand into new markets and regions.
Ohanessian says the deal "signals the start of a profound transformation in the retail world." The company believes its Smart Store concept is the future of retailing, and it intends to be the leader in the autonomous robotic retail sector.
VenHub is on the path to issuing shares to the public in a Regulation CF offering. Issuance Express is facilitating the distribution. Investors interested in this company’s shares may still have an opportunity to invest, but only until August 21st. The offering is highlighted on the Issuance Express portal.
Featured photo courtesy of VenHub.
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