Retailers may employ a variety of tactics to not only weather the COVID-19 hurricane but to succeed in an unpredictable world. As more consumers shop at home, using AI technologies to improve supply chain and inventory quality and adopting a data-driven approach to target customers is critical for success. Below are how these technologies will lend its hand to the retail and eCommerce industry.
Supply Chain and Artificial Intelligence
Artificial intelligence (AI) is helping to solve supply chain issues by tracking suppliers, detecting possible supply delays, and suggesting alternatives. Furthermore, AI technology will keep factories running during labor shortages and forecast demand. AI may be able to track operations remotely in some situations, eliminating the need for engineers to be stationed on-site. This cuttingedge technology would keep the supply chain running smoothly and in step with rising demand.
There are a variety of AI applications that can improve the efficiency of the supply chain. Chatbots can handle routine contact with suppliers, and ordering requests can be made automatically. The technology can also be used to store and submit documents. Machine learning will also help figure out how many things businesses will need. When dealing with international suppliers, AI will help interpret and explain documents, allowing for more efficient communication.
Shopping Behavior and Social Shopping
COVID-19 has transformed the in-store experience. Amid the pandemic, there is a great deal of doubt about the future of retail. Online shopping sites must evolve and recreate the browsing experience. Using the voice of consumer data for eCommerce will help decide what consumers like about their shopping experience and what items they want to see. Increased video and image content will give site visitors a better understanding of what products are available. The feeling of trying on clothes or jewelry can be recreated using web cameras.
Furthermore, on-site video demonstrations of products will provide visitors with a practical experience. Through audio and video interaction, online assistants may help replicate the feeling of being in a physical store. In the post-COVID-19 era, these solutions will revolutionize omnichannel shopping.