opinion
Artificial intelligence is a powerful tool that retailers can employ to ensure
in-store visitors are getting the best possible customer experience
By Bouncepad – www.bouncepad.com
Artificial Intelligence (AI) opens up
a world of possibilities for the retail
industry, many of which are already
offering monetary value to merchants. A
study by Capgemini – a CRM company –
predicted that AI could save retailers up
to $340 billion annually by 2022.
It’s a highly efficient and cost-
effective way of delivering an optimised
experience for customers on a big scale.
Personalising customer experience,
improving efficiency and accuracy, and
raising the bar of customer satisfaction
are among the list of benefits.
These types of automations are
helping retailers keep up in the world
of Amazon. Without AI, it’d be close to
impossible for these retailers to stay
afloat. Allowing for more efficient supply
chains and returns, a more responsive
customer-service model (chatbots) and
accurate inventory; AI is changing retail
for the better.
Matt Glickman, vice president of
customer and product strategy at
Snowflake, claims that all retailers are
under disruption right now and have to
develop a direct relationship with their
customers. Speaking to eMarketer Retail,
Glickman said. “This disintermediation is
critical to get data about your customers.
With data, AI can be used to create
customised recommendations and
products, which is all expected from
consumers today.”
Walmart has implemented the use of
AI to help keep its shelves in-check. Using
Bossa Nova robots, they can monitor
price tags and missing items to make
sure their in-store visitors are getting the
best possible customer experience.
A working collaboration
AI can offer support in the backend,
but in terms of customer-facing roles,
humans are still preferred. According
to eMarketer Retail, 58% of consumers
prefer to interact with a person over
a robot in a retail environment. This
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