AI: The Driving Force of Omnichannel Strategy
Retail Tech Insights | Thursday, December 26, 2019
The retail industry is shaped by an omnichannel approach, a force driving the e-commerce sales, in the year 2019. Let’s look how AI can be applied online as well as in brick-and-mortar stores to unleash its power
Fremont, CA: Number of factors like a spike in mobile applications, availability of fast internet speeds, and a new generation of high-spending shoppers have channelized the Ecommerce momentum while enabling them to offer a whole new shopping experience to the customers, whenever and wherever they choose. The retail industry is shaped by an omnichannel approach, a sector driving e-commerce sales, in the year 2019.
Adopting the omnichannel approach may be tempting for many retailers who haven't started their digital transformation journey. Some believe that implementing an omnichannel strategy is only about being present on all platforms and channels. But it isn't true. It also provides a seamless and integrated brand experience to customers across all channels to enable them to connect with the brand and simplify the shopping experience.
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Amidst the use of various technologies by the brands aimed at enhancing their omnichannel strategy, artificial intelligence (AI) is an essential component that is driving its success. But AI is only a means and not a standalone solution, so businesses need to understand that while it can be greatly helpful in providing customer insights, it cannot give back for a modest or nonexistent omnichannel strategy. In short, AI needs to be a supporting factor of a wider omnichannel strategy and not being implemented just for the sake of being an on-demand technology.
Let's have a look at how AI can be applied online as well in brick-and-mortar stores to unleash its power:
Personalization
Personalization is the best way AI can help brands. Personalization help brands to communicate with their audience at the right time, with the right offer, the right product, and message and through the right channel. Brands can achieve higher response rates, lower marketing costs, and increased customer loyalty.
Unlocks data potential
A huge amount of data brands have access to multiple platforms. AI can help brands to process this data to identify consumer buying preferences, spending patterns, personal preferences, customer demographics, and so on.
Image Search
Images play an important role in online shopping. AI allows customers to search for products based on images they've come across. Shoppers simply take an image and get matched to similar products on eCommerce websites.
Check out: Top Omnichannel Solution Companies
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