Delivering a great customer experience is the only job of a salesperson – who has, invariably, 10 seconds to visually engage with the walk-in prospect.
In order to understand whether discounting is a good strategy for retail, one must understand the objective behind the discounting. Are you aiming at selling large quantities at lower prices?
Artificial intelligence, or AI, is slowly becoming a part of our daily lives. Siri and Alexa are now household names, and their users have grown accustomed to how easy they make it to access information.
Retail will increasingly adopt intelligent automation technologies, according to IBM's latest study released Tuesday at the National Retail Federation's 2019 Big Show. The study focuses on the convergence of humans and artificial intelligence (AI) in the retail industry, and specifically how automation can help reduce human error and improve the customer experience.
Artificial intelligence (AI) is transforming several sectors of the economy such as automotive, marketing and healthcare. Retail could be next. According to an August 2018 survey of 400 retail executives worldwide by Capgemini, AI could save retailers as much as $340 billion annually by 2022. Capgemini estimates that 80% of the savings would come from AI enabling more efficient processes for supply chains and returns.
Today’s market has become more customer-centric than it was ever before. Gone are the days when products used to define the markets. Now it’s the customers who run the market and servicing customers in the best and fastest possible way determines the success or failure of a product.