Consumer expectations for speed and high-quality service keep rising\u2014so what can retailers do to maintain a competitive edge? The next retail paradigm shift will see offline and online shopping converge into a single, seamless channel. Retailers of all sizes need to be one step ahead of their customers\u2019 needs and their competitors\u2019 next innovation, requiring a digital transformation powered by artificial intelligence.<\/p>\n
Below, we break down some of the key trends retailers can act on in the AI space and narrate a scenario that highlights the process of building comprehensive, informed shopper profiles with AI.<\/p>\n
Personalize the storefront for every customer.<\/strong><\/p>\n AI-powered retail spaces recognize shoppers and adapt in-store product displays, pricing and service through biometric recognition to reflect customer\u2019 profiles, loyalty accounts or unlocked rewards and promotions\u2014creating a custom shopping experience for each visitor, at scale.<\/p>\n Guide discovery based on the shopper\u2019s needs and preferences.<\/strong><\/p>\n As customers to look to build confidence in a purchase decision, automated assistants can help narrow down the selection by recommending products based on shoppers\u2019 needs, preferences and fit.<\/p>\n Capture emotional responses and act accordingly.<\/strong><\/p>\n By recognizing and interpreting facial, biometric and audial cues, AI interfaces can identity shoppers\u2019 in-the-moment emotions, reactions or mindset and deliver appropriate products, recommendations or support\u2014ensuring that a retail engagement doesn\u2019t miss its mark.<\/p>\n Extend dynamic consumer outreach based on real-time information.<\/strong><\/p>\n Advanced CRM and marketing systems learn a consumer\u2019s behaviors and preferences through repeated interactions to develop a detailed shopper profile and utilize this information to deliver proactive and personalized outbound marketing\u2014tailored recommendations, rewards or content.<\/p>\n Respond to customer feedback with R&D.<\/strong><\/p>\n Deep learning algorithms collect and interpret customer feedback and sentiment, as well as purchasing data, to support generation-generation product and service designs that better satisfy customer preference or fulfill unmet needs in the marketplace.<\/p>\n Here\u2019s a possible scenario: Anton is a recent college graduate who just accepted a job at a PR agency and needs to purchase a wardrobe appropriate for his new workplace.<\/p>\n As Anton\u2019s example conveys, artificial intelligence translates personalized convenience of online shopping to physical retail, instantaneously refining product recommendations and rewarding customer loyalty. AI supports in-store associates by putting at hand all the information they need for each individual customer. The result is a comprehensive view of shopper behavior for retailers and a seamless experience for customers, regardless of the retail channel.<\/p>\n For more intelligent retail insights and findings, download Microsoft\u2019s AI Retail Playbook <\/a>or visit microsoft.com\/retail<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Retailers of all sizes need to be one step ahead of their customers\u2019 needs and their competitors\u2019 next innovation, requiring a digital transformation powered by AI.<\/p>\n","protected":false},"author":843,"featured_media":10913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"_classifai_error":"","footnotes":""},"categories":[1501],"post_tag":[],"content-type":[1483],"coauthors":[4309],"class_list":["post-3094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail","content-type-thought-leadership","review-flag-1593580429-205","review-flag-1593580416-594","review-flag-new-1593580249-279"],"yoast_head":"\n\n
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