With the ever growing and evolving technical world, the day to day tasks of humans are rapidly getting simplified. Today, Artificial intelligence has become the smart way to do shopping. It helps shoppers find the target products that perfectly match their style, budgets, and bodies. AI in retail makes it possible to translate Big Data into actionable insights that help target customers make the best choices faster.
Artificial intelligence in the retail industry has rapidly evolved and become a crucial asset even as the sector continues to face challenges. Today, many retailers are turning to AI to get a fact-based intelligence for empowering the target client. AI is emerging as the defining factor that both old and new stores can only ignore at their own peril.
AI and e-commerce are inseparable
The e-commerce operations in the market today are overwhelmed by Big Data. AI in retail marketing has come at the right time to help make sense of this data. It simplifies complex data analytics so that retailers no longer need to hire big teams to do similar tasks.
More companies are also adapting AI to help improve customer service and performance while cutting on related costs. AI technologies are enabling retailers to make accurate predictions of customers’ styles and taste in real time during the shopping. Proper application of AI will guarantee more leads, higher conversion, and improved stocking ability. It is because of these benefits that over 45% retailers are looking forward to implement AI to enhance their revenue.
AI in e-commerce takes shopping a notch higher
In the fashion industry, brands are using AI to improve their customer experience. No matter the shoppers’ focus, AI consolidates their best preferences to ensure they get perfect matches. For example, artificial intelligence shopping technologies can help retailers promptly check a shopper’s history, their online browsing, and social media likes to deliver an enthralling shopping experience. The following are great benefits of AI application in the fashion industry.
- Making it easier to pick the perfect look faster
AI designed visual searches help clients in the fashion niche narrow down to their preferred products faster. One great example is the Pinterest Lens that utilizes machine vision to identify products on the web and generate a list of related products. Another example is the Snap mobile app. This app allows shoppers to use the smartphone camera to capture the items they like. Then, it pulls a list of similar items so that the user can pick the preferred piece faster. Some top companies using these technologies include Shoes.com, Urban Outfitters, and John Lewis.
- Generating personalize product recommendations
Every application of artificial intelligence in e-commerce comes with enthralling capabilities that target taking the user experience to a new level. Some companies are combining human touch and AI in a unique way to consolidate clients’ insights. At Thread, one of the top styling service providers, questionnaires are distributed to gather details about the client’s preferences. Consumers are even asked to provide images so that products are matched more accurately. Once the questionnaires are completed, advanced AI algorithms are used to identify all the matching products for personalized suggestions.
- AI makes you shop like an expert stylist
One of the most successful applications of artificial intelligence in e-commerce is the AI-generated feed designed by Hook Team. The AI application provides users with direct access to a personal stylist. The app learns what the target client wants by analyzing the online behavior such as likes and previously bought items. Then, it processes the info in real time, adds the recommended products to the wish list, and sends the prices. Users can also use the app for additional searches.
- The perfect way for social selling
When Pinterest introduced the Shop the Look tool, it created a new way to match clients’ needs and deliver greater value. The Pinterest machine learning tool identifies pinned items that users can buy in line with their social behavior. It picks fashion items from different retailers and can tell sellers when sponsored posts convert.
- The ultimate method for spotting new trends
AI bots crawl retail stores and identify products that are trending. This is a great way for retail stores to stay up-to-date with the latest fashion trends. The trends are also picked by AI bots from social media and other platforms to ensure that a retailer has what the market wants. For example, the Node retail crawling framework can crawl over 130,000 brands in approximately 1400 fashion groups in real time. This artificial intelligence in retail industry employs machine learning to recognize images and promptly make sense of the data. This means that you will always have the trending products all the time.
What is the future of AI in the retail industry?
AI is helping retailers to get a more profound understanding of shoppers and the industry to help deliver better UX. Using data gathered from the market, it is easy to determine every customer’s preferred style, size, and even colors to raise the chances of making a sale. By factoring advanced algorithms that carry real-time diagnostics, it is now possible to generate recommendations to clients in a retailer’s target market. The e-commerce niche is unfolding faster with the help of artificial intelligence. You cannot wait any longer to inject AI into your store because the future of the retail industry is Artificial Intelligence.