While there are lots of techniques that fall under the definition of AI, the buzz lately has been overwhelmingly driven by advances in Machine Learning algorithms. So, when people are talking about AI transforming retail, what they usually are referring to are advances in machine learning unlocking huge value.
In the upcoming March/April 2018 issue of Retail Executive, I dedicate my Viewpoint article to voice commerce, a topic we’ll be covering more diligently as the technology progresses. As such, I caught up with Saeed Amidi, CEO of Plug and Play Tech Center and Retail Executive Editorial Advisory Board member to get his take on the progression of the technology and how retailers should utilize it.
Online shopping can actually be quite stressful but leveraging a chatbot with strong functionalities can relieve shoppers of these stresses and make shopping productive, timely, and enjoyable once more.
Modern retailers understand the core benefits of leveraging the power of Predictive Analytics and Artificial Intelligence. Predictive Analytics accounts for all of your company’s relevant data at a micro-level, identifies your business’ trends, opportunities, and influencing factors. It makes recommendations to retailers that will help them increase forecast accuracy, reduce inventory costs, increase in sales, and maintain high customer satisfaction levels.
The in-store shopping experience must improve to keep customers coming back. Find out how image and vision technology can help create an effortless in-store experience.
The key to retail customer experience is accurate inventory. Learn the benefits of accurate inventory and how imaging technology can improve inventory accuracy through your enterprise.
Converting retail stores into mini-fulfillment centers is a more cost-effective way to expand the distribution network using existing facilities that are already close to where customers live.
New research reveals that 88% of retailers with new supply chain initiatives said it has helped them exceed customer expectations; and 84% claim these efforts allow them to give customers more control over their shopping experiences.
"Internet of Things (IoT) endpoints are becoming ubiquitous thanks to a predicted compound annual growth rate (CAGR) of 32% from 2016 through 2021, according to Gartner research published in December 2017. These endpoints have the potential to disrupt order-to-cash processes and will enable digital optimization by creating new ways to serve and collaborate with customers and channel partners." Despite the expected disruption, the new report also revealed that only 22% of respondents have already or are currently investing in IoT. "However, in terms of the dollar value of spend on supply chain IT, only 18% of budget spend is put toward supporting innovation and agility to transform operations and create sustainable advantage."
Let Radial handle the complexity and risk of payment processing, fraud management and tax compliance. Our fully outsourced solution turns orders into revenue, sends criminals running, keeps governments satisfied, and turns one-time shoppers into repeat customers.
Radial Fraud Zero delivers a best-in-class combination of people, processes, and technology for end-to-end fraud management. We are 100% focused on converting the highest percentage of transactions and keeping fraud well below industry standards to provide a frictionless experience for your customers. Our blending, cutting-edge technology with rigorous expert analysis translates into higher approval rates and happier customers.
While there are lots of techniques that fall under the definition of AI, the buzz lately has been overwhelmingly driven by advances in Machine Learning algorithms. So, when people are talking about AI transforming retail, what they usually are referring to are advances in machine learning unlocking huge value.
While early EU General Data Protection Regulation enforcement has focused on big tech companies, retailers can’t get comfortable. The law applies to all organizations processing consumer data of EU citizens, regardless of the company’s location or sector. In short, the GDPR has established unprecedented regulatory attention on companies, and retailers must understand their obligations and exposure to liability.
Everyone is buzzing about AI these days, as well as they should. Machines that “think” for us already are transforming how we work, play – and shop. McKinsey tells us that some 29 million U.S. homes used some form of smart technology last year, and that number is growing by over 30 percent a year.
Store teams — composed of lots of new faces during the holidays — can make or break shoppers’ brick and mortar experience. In a recent national study we conducted at Square Root, shoppers shared the four key areas that most influence both their brand perception and buying behavior. Here’s how brands can better empower their teams on the front lines to ensure in-store success throughout this holiday season and into 2019.
Given consumers holiday angst, there are timely steps that retailers can take to create and enhance a solid relationship with customers. Here are some tips that your customers will appreciate during the rush of the holidays — and are likely to pay off in increased consumer loyalty in the New Year.
