AI in Retail

Today’s dynamic retail industry is built on a new covenant of data-driven retail experiences and heightened consumer expectations. But delivering a personalized shopping experience at scale is no easy feat for retailers.

By incorporating AI solutions into a retail or e-commerce organisation, storefronts of all shapes and sizes can deliver the right products to consumers with improved speed, accuracy and satisfaction. Not only can AI help boost a retail organisation’s bottom line, but customers can also enjoy highly personalised and frictionless shopping experiences that can lead to higher brand loyalty and improved customer satisfaction thanks to the possibility of discovering new products and services.

Image

Applications of AI in the Retail industry

quotation-systems

Efficient Customer Acquisition

Thanks for AI-powered marketing you no longer need to place your ads in front of people who aren’t interested in your products. Protect your brand and bring value to your customer with high precision advertising.
Benefits:
• Lower cost per customer acquisition
• Improved brand image and customer satisfaction.
quotation-systems

Customer Service Automation

NLP based solutions and sentiment analysis can be used to assess customer experience from the first point of interaction, enabling retailers to enhance each stage of the user journey.
Benefits:
• Better insights
• Improved customer satisfaction
quotation-systems

Smart Product Recommendation

Data overload makes it difficult for retailers to recommend the right products to their customers. When managed well, data can provide an opportunity to provide a uniquely personalised experience to each customer, giving you an unparallel advantage over competition.
Benefits:
• Personalised Experience
• Higher customer lifetime value
quotation-systems

Demand Forecasting

Predictive Models can be used to predict demand to adjust production, stock control and warehouse management accordingly.
Benefits:
• Better warehouse efficiency
• Less costs for unsold inventory

Benefits of AI in Retail

Binoculars icon

Personalised Experience

Layouts icon

Improved Customer Satisfaction

Box icon

Reduced costs and improved Operational Efficiency