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Retail Business Review | Sunday, March 13, 2022
The retail world is changing quickly with the influence of AI. It paves the way for an evolving new era where the entire customer and their choice-related questions are answered immediately.
The retail industry has to develop quickly to keep up with the rise of eCommerce platforms. Foot traffic in malls has halted, and department stores have closed. AI is on its way to transforming the retail industry.
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Instant Communication
Conversational AI or chatbots can answer most questions through an app or in-store kiosk, extending the retail experience and creating a stronger bond with the customers. Not only could they, even the staff, also benefit by using that same app to help fulfill the customer requests. For instance, if an employee is unavailable or if the customer hasn't installed the app, retailers can use in-store kiosks to offer them an easy and convenient way to deliver an outstanding service.
Unmatched Memory
AI, combined with machine learning, can solve problems. It can recover customer selections and preferences, keep track of retail visits, and predict purchases. Customer questions are stored to provide better answers. Sales staff can utilize AI-equipped mobile devices to answer customer-related questions.
Grab and Go
The retailers can tell which items customers want to purchase using computer vision, deep learning algorithms, and sensor fusion. As a result, the transaction is incomplete until they walk out the door, leaving them an optimal time to swap the items as necessary. Excluding the function of AI technologies, a store like this couldn't be possible, and the customers would have to continue lining up at the counter.
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