Online shopping is now mainstream. People prefer the convenience of online shopping over going to stores. Retailers and marketers have combined to offer an omnichannel experience and a personalised way of marketing. But are you wondering about what is in store for the future of retail?
Artificial Intelligence is the tour de force that’s next for retail. Data is king and AI is the key to making sense or understanding the data. Read on as we explain how AI will redefine the retail industry.
Explore a new way to shop
Imagine a retail company having the knowledge of your personal tailor. Your preferences, sizes, and patterns, will be knows to the AI. Your individual profile will result in a personalised shopping experience for you. Everything shown to you will match your preference. You will no longer have to choose from heaps of clothes or stand in queue to try the cloth before you purchase it. Finally, shopping will be a breeze.
Let the world find it for you
Imagine spending countless hours looking for a design that caught your fancy on someone wearing it at a party. Yeah, searching for a dress you liked was a painful process until AI revolutionized the retail industry. Visual search will slowly bee the preferred form of search tool in the future Just click a pic and let the AI search tool find the design for you including some more matching references. Think of it as Shazam for your clothes.
Meet your personal stylist
Get personalised recommendations by artificial intelligence equipped algorithms. Everything you love about shopping with a friend from discovery (matching recommendations) to deals & discounts (get real-time price drop notifications), your ap will do it for you while you go through a store.
Be everywhere your users are. From physical stores to online websites to apps and social media, AI can help you connect with your users. How? AI bots can strike engaging conversations with the shoppers when they need more info. Different stores can see your real-time inventory and plan their sales accordingly. Have a unified presence for your brand across all your platforms.
Get the price right
Getting the price for a product spot-on is the toughest ask for companies sometime. Right price can help your product gain popularity while wrong price can reduce the demand for your product. AI, Big Data, and machine learning combined can help you find the right price strategy. Based on the available inventory and popularity of a product, it will help you set the right price for a product.