How did we go from spending a whole day shopping for one specific item going online, searching for products, and getting it delivered to our doorstep? Companies like Taobao and Amazon thrive on selling online products using a slew of AI technologies and algorithms to sell the best product at the best prices. This convenience has opened trade wars due to a limited consumer attention span. To understand how commerce is constantly changing in today’s world, here are five new ways retail stores are changing for the best, of course, are affected by AI and technology.
Technology has advanced so fast that even stock camera apps in most mobile phones can do visual searches. All you need to do is point your mobile camera towards an item you desire. It doesn’t matter if it’s a mobile, vape or even a plant; you’ll get multiple hits within seconds.
Minus the cashier
We finally live at the start of a cyberpunk world where you don’t need a cashier and go through with your purchase with automated payments. Amazon Go is the perfect example; even though it uses a combination of technologies like cameras to track movement and bar code scanning to pay through your apple pay, the future is here. Where countries like Sweden where shops close at 20:00, it is a great convenience for late-night snackers to shop at such kiosks and shops at any time of the night.
All your purchases and preferences are kept in kb size memory slots making your shopping easier. This option is the best combination of AI and machine learning that sales personnel can’t offer. Whether you want to return something or want to buy a peripheral of something you already own, simple access to this memory will bring up options at the click of a button. Your footprint of recent shopping or browsing is also available making it easier for you to choose.
Ikea recently included AR in their app where you can use your camera to see how their item will look in your home and how much space it will cover before you buy and get it delivered. Some brand apps can help you select clothes with the right sizes before even trying them on.
Most of us now look for reviews before considering buying. The impact on the trust that a simple review can have is huge. AR can provide feedback for each product in real-time. It is the simplest use of technology, but it helps us buy things that much more easily.
The larger a company grows, the more difficult it is to manage the inventory and SKUs of each item. AI analytics can help manage inventory by measuring promotion campaigns, social media interaction and consumer spending including website clicks and visitors. Analyzing the data will allow the business to store necessary items at the storefront on this prediction. Extra inventory can be stored in warehouses if need be
If you enjoyed this post: 5 ways AI and technology are shaping the future of retail stores, be sure to check out our recent IoT and AI pilot with Adnams here: AI and IoT for retailers how physical stores can enhance customer experience
Proven benefits of Alertiee technology
Alertiee will help you realise missing sales opportunities, stores’ performance based on conversion rate, and stores’ sales hotspots areas.
We support and guide you through how you best convert both inside and outside traffic opportunities by supplying you with options around service risks and how to serve your existing and potential new customers best.
Alertiee will help you to provide a harmonious customer experience across your omnichannel business. Our technology enables customer experience, marketing and retail teams to close the gap between customers’ digital experience and their physical experience.