The adoption of machine learning, deep learning and predictive analytics is growing at a fast pace in the retail sector, where many retailers are trying to fit AI strategies into their future budgets to remain competitive and increase their Return-On-Investment. For instance, AI algorithms help retailers gain a comprehensive understanding of consumers’ shopping patterns, recommending the best possible promotions personalised specifically for them. Check this blog to learn more about the diverse opportunities that AI can offer to increase ROI.
In 2020, an average of 89.9% of retail sales took place inside stores in the United States and in Ireland. In times of a pandemic people still preferred to shop in person. Brick-and-mortar stores are never dying, but with customers’ changing habits and demands, a data-driven store is guaranteeing it is also evolving.
Operating a brick-and-mortar store in an Internet of Things era certainly brings frustrating competition. But it also has its advantages. Retailers are getting creative with their stores and we sure predict they are not stopping there.
First impressions are important. You may only get one chance to grab your customer's attention. Digital displays capture 400% more views than static displays. It allures the customer and cleans up your store's image. You give the customer the opportunity to truly shop at ease and notice all the important messages your products have.
As technology continues to evolve, brick-and-mortar retailers will need to adapt to avoid extinction. They will need to embrace innovation to allow consumers to perceive physical shopping as pleasant, enjoyable, and extraordinary - a seamless experience between click and brick.
