How is Artificial Intelligence benefitting retailers?

How is Artificial Intelligence benefitting retailers?

The Retail e-commerce solution has been more fragmented and competitive compared to the last decade.

Multiple store formats and digital tools are increasing shoppers experience regarding their choices. Digital channels are growing day by day. Retailers are enticing to adopt Intelligent artificial technologies to boost their business. At the same time, AI is proving fruitful and helping the company in reducing human error and enhance the customer experience.

After the revolution of e-commerce, the retail industry has been influenced by adopting and innovating upgraded technologies in the market. With the inception of IoT, mobile and AI technology, most retailers have realized the benefit to exploit these technologies for transforming their retail operation to a higher level. AI has become a primary source for digitalization in store for better customer experience by providing them with more engaged business-to-consumer interaction. AI fills the gap between virtual and physical sale channels. The result a customer gain unique experience while companies sustain competitiveness over time.

The use of artificial intelligence solutions has boomed every aspect of the industry. Whether it’s to optimize supply chain, use existing customer data for increase conversion or tailored shipping experience with predictive modeling and micro-targeting. AI comprises of distinct devices, sensors and machine-to-machine communication that would collect and analyze the data making a practical recommendation for users.

AI programming software is made including machine learning, natural language processing and robotics in their actions. With the help of its retailer and manufacturer gather information about a customer and give predictions about fashion pattern or images concluded from their records.

Some beneficial Smart solution embraced by AI for retailers:

  • Personalized Recommendation

With AI technology you can send a personalized recommendation to a customer regarding the products and their requirements. Once a customer peeks into the store and logs in to the app, with the help of sensors you can identify and track their behavior and activities. Inbuilt AI can follow you about the last multiple visits and products that were brought. With this information, AI can suggest customer regarding the products based on their previous purchase and present requirement also there would be discounts, loyalty points and many more rewards for enhancing their current shopping experience.

  • Personalized OFF store Recommendations

AI application can understand the large purchases and preference of customer with the help of collected data. This data helps target market campaigns or advertisements to a customer and attract them back to stores and increase business.

Read the blog- How Retail industry is going all in on artificial intelligence

  • Digital Racks for Fashion Products

AI technology is beneficial for a retail fashion brand, as it creates virtual racks and trail rooms with gesture walls and touch-free monitors for right styling recommendations and can quickly shuffle through a pile. A customer can instantly experience a trail of the dress through a digital process and can browse further guidance as per their style quotient.

This would improve the customer shopping experience and making it easier for them to opt from millions of options.

  • Visual Search and Listen

Image recognition features are beneficial for retailers, and it can brace customers for searching for things in a store without walking around. With the help of AI-powered Kiosk customer can look up for the product in store by just providing the image and they would get a notification about the similar products available in the store with an exact location. An AI-powered mirror can capture customer expression and suggest them accessories and designs.

Amazon Alexa, Apple Siri uses the machines learning algorithm and models for a voice-enabled assistant. Even retail stores assist customers, and with voice, assistants client can directly communicate for a personalized shopping experience.

  • Behavioral Analytics

AI along with modern surveillance equipment and computer vision technologies can benefit retailer understanding the behavior of a customer inside the stores. A retailer would understand engagement level and optimize operations for better business revenues.

Video analytics are implemented to improve in-store security and lessen the chances of robbery. AI can send surveillance footage in real time to administrators and alert store owners for quick action.

  • Better customer support with the help of Chatbots

AI mechanized chatbots can handle a thousand queries simultaneously without hiring a large human. Chatbots and humans together can treat customer effectively and providing resolution to their problem. A customer would be privileged when they would get personalized attention and keep coming back to the store.

Summing Up

AI provide a more personalized experience to customers and making it possible for retailers to analyze millions of customers behaviors every day. This way they would enhance retail experience focused on customers as per their requirements and demands. Artificial Intelligence development is on its way to make in coming years for an improved experience for retail shoppers but the present. Artificial Intelligence top-notch solutions will rule the domain and add advantage to brands providing more customer-centric retail operations.

There are many top International brands already leading in the industry and improving their sales figures. Consult AI vertical experts that would help to drive and promote your brand ahead.