South Korean retail AI company Fainders.AI has introduced a compact, cost-effective cashierless MicroStore, making autonomous retail accessible to a broader range of businesses. 

The 15m² prefabricated unit, which can be installed within one week, has been rolled out in a gym, providing members with convenient access to healthy snacks. 

Fainders.AI's MicroStore represents a significant advancement in retail technology, particularly for smaller, specialised venues.  

Fainders.AI founder and CEO Myungwon Ham said: "The MicroStore is not just a smaller autonomous store. Through the standardisation 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."  

The MicroStore distinguishes itself in the market with its competitive pricing, making it an attractive option for small and medium-sized businesses.

'Fitness 101', a local gym in Seoul, is the first client to benefit from this innovation, showcasing the MicroStore's potential for various retailers and space owners, especially those with limited budgets, noted the company. 

With ambitions for global expansion, the Korean startup is already engaging with potential 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," added Ham. 

Established in 2020, Fainders.AI has been developing autonomous store solutions and claims to provide offline retailers with advanced technology at a cost that is a third of that charged by their closest competitors.  

The company has also forged partnerships with the largest convenience store brands in South Korea.