As artificial intelligence shapes industries like healthcare, finance, and manufacturing, the retail sector is also set for some changes. Some AI use has already shaped online shopping experiences, but more features are soon to come. Things like predictive analytics, a personalized shopping experience, improved inventory management, and interactive experiences will drastically change what shopping means.
As AI finds its way into creating more personalized experiences, such as an AI girlfriend, which can provide individuals with immense social or emotional support, retail brands will see the value of tailored customer relationships. Below are ways AI may soon change shopping experiences—both behind the scenes and in the public.
Crafting a Personalized Shopping Experience With AI
A lot of work goes into the backend operations for customers to get a seamless shopping experience. By analyzing past customers’ behavior, stores using AI tools can predict what that person might shop for next. Additionally, they can analyze subgroups of demographics to predict what a person might prefer next time they’re shopping.
AI may suggest products or customize their marketing campaigns to suit the person’s preferences. This makes shopping more personal and enhances the overall experience, which may be traditionally underwhelming.
These efforts not only increase company sales but also make shopping more exciting. Compared to outdated predictive tools, this strategy is advantageous on both ends.
AI and Inventory Management
A critical aspect of a fruitful shopping experience is that all products are in stock. It can be hard to manage an extensive inventory, especially if a company sells many products or has several stores. Luckily, AI does a good job of handling large amounts of data.
Using AI to manage inventory can optimize stock levels depending on previous consumer patterns and predictive analytics. Forecasting demand for a product will ensure it’s available when a customer comes looking for it.
While being understocked isn’t ideal, neither is overstocking. Overstocking often leads to waste, which becomes an environmental problem. AI-driven systems can drastically improve operations’ efficiency while keeping a greener plan in mind.
How AI Can Become a Virtual Shopping Assistant
Long gone are the days of flagging down a retail worker only to find they didn’t see you. When you have a question about a product or the store itself, finding a helpful and knowledgeable assistant can be difficult. Sometimes, it can take walking around the whole store or minutes of waiting at a button for assistance. This seems like an area waiting for improvements.
Instead, stores that incorporate virtual shopping assistants can guide customers without any hassle. Whether answering questions about a product, helping customers search for something, or providing style or usage advice, an AI assistant could offer an unmatched shopping experience.
For in-store shopping, it could be as simple as an app on your phone. For online shopping, the virtual assistant can be built into the website. Some shopping sites have already done this, making things easier for both the customer and the company.
AI-Powered Customer Support
Customer support is a vital service for any company that sells a product or service. Traditionally, it takes teams of people that comprise customer support, which results in high personnel expenses and long wait times for customers.
Other industries, like finance, have already turned to AI for customer support services. Online chatbots or even AI call centers can provide almost instantaneous services to customers. Customer support combined with AI technology can resolve issues more efficiently, giving customers a more positive experience.
Additionally, rather than having employees on the clock 24/7, the AI can provide assistance at any time of day without being overwhelmed or overworked. Companies that focus on a customer-first model should consider optimizing this area, which directly deals with customers.
Marketing Analytics and Predicting Trends
From a business perspective, it makes sense to understand the entirety of your customers’ shopping habits. From creating compelling ad campaigns to managing inventory, the company needs vital trend information to give customers what they want.
Historical sales data, paired with trends from various streams (such as social media or the company’s own website), can provide sufficient marketing material for a brand.
Based on the findings, a business can choose to stay on the same track or pivot as needed. Marketing is one of the most influential aspects of a shopping experience. Marketing gets customers to the door and keeps them interested in buying more. AI is a newer tool that makes predictions clearer than ever before.
Online trends seem to come and go more quickly. It’s hard to keep up with the trends and have enough marketing to accommodate new sensations. AI makes it entirely possible to meet customers’ evolving demands as they roll in.
The Role of AI in Augmented Reality (AR) Shopping
While AR shopping seems like a faraway dream, the technology is already here. Video games have already paved the way for AR technology to rise to prominence. Online glasses sites, for example, are also already using AR to help customers try on products.
If expanded into other retail stores, AR shopping can give people the try-on experience without having to leave home. AI makes AR technology even more realistic. It also helps with real-time feedback, which creates a more desirable try-on experience.
Interactive online shopping can tremendously impact brands whose only storefronts are online. These brands now have the potential to compete with companies that have in-person stores around the country.
The Future of Retail: AI as a Helping Hand
The tremendous impacts of AI technology are already shaping people’s experiences with the world. As it becomes introduced into the retail world, shopping is likely going to become a totally different experience.
Who’s to say how soon these changes could take place? It’s daunting yet exciting to know that tremendous changes are on the horizon. A world where everything is tailored to you doesn’t seem so foreign now.
The potential for AI in retail is exciting for both businesses and customers. With more seamless experiences, more available tools, and improved customer service, the already colossal industry could boom even more. It’s an exciting time for tech lovers and retail therapy to align paths to create deeper customer connections.
