Consumers are concerned about their lack of control, or not knowing who has access to their data. Fraud concerns are one of the many other insecurities they have. Brands and retailers may empower customers by allowing them to choose how their behavioral data is shared, which could lead to greater data sharing and more accurate data.
The customer behavior is getting back to its ‘old normal’ before the pandemic, with aspects like price, convenience and location, and quality of products prioritizing their list. This means cleanliness and other concerns of the pandemic have been gradually dropping from the old list. Retailers can make the best out of this holiday season, increasing their sales and ROI by intelligently winning their customers in-store using AI, ML, and the power of data.
There is no one-size-fits-all solution for technology integration, but for retailers, the future is clear: artificial intelligence is no seasonal trend. Building loyalty and making customers return back to their stores has always been one of the many challenges that retailers face. But in the digital age, retailers can now win customers smartly by taking advantage of the power of data.
Data hygiene is essential to offer an advantage in today’s retail world. It is crucial for retailers to explore how evolving technologies like Artificial Intelligence and Machine Learning can help them gain a competitive advantage and achieve accurate and faster data that helps them with strategic decisions.
Retail stores have been going through a remarkable digitization journey throughout the years; moving away from the old traditional analog retail to the digital era that we are in today. Lately, the focus has been directed towards the future, where stores seamlessly blend with their environment and harness data in their competitive advantage. Read this article and learn how Artificial Intelligence and Machine Learning are the keys to the success of retailers in the future.
