Retail industry is continuing to evolve, especially for brands that take advantage of trends dominating across all industries
Fremont, CA: Artificial intelligence (AI) played a significant role in the MarTech industry, and big data analysis improved the overall human experience in 2019. With the new year brings new innovations in the retail sector, here are three important trends that will make huge retail impact in 2020.
AI Marketing and Personalization
Customers today are skilled at tuning out or blocking ads that lack personalization in channels like social media. Leading retailers are building their own proprietary data sets or data lakes to explore, refine, and analyze the petabytes of data coming in from multiple sources such as web, social, RFP, etc. When these data set reaches enough volume, they will be used to internally train AI functions that cannot be replicated by other retail organizations. Thus resulting in more significant personalized experiences, both in-store and in ads.
2020 will see a growth in retail success produced by AI-generated ad experiences as these technologies share with major advertising platforms, mobile apps, and traditional studies.
Implementing XR to Make Virtual Mistakes
The retail industry will start to take advantage of extended reality (XR) technologies to simulate workplace scenarios more effectively as well as ensure faster productivity results. It will also reduce the cost of employee development and training programs. XR-compatible solutions embedded in products and web-based applications will enable retail employees to learn in the flow of work and complete training programs during off-peak hours. Similarly, virtual reality will take a leap in retail ranging from helping employees visualize in-store layouts to holiday traffic flow.
In-Store Experiences with AR
The introduction of augmented reality (AR) in the retail space is going to become mainstream, with many retailers implementing it to their regular toolset to entertain and engage customers. Because AR is digital content view on top of a real-world target, just a simple box on a retail shelf with engaging content on top of it can enhance a shopper's experience.