7 areas where artificial intelligence is driving retailing forward

For some, artificial intelligence (AI) is still perceived as something far in the future. Others believe that investing in AI is too expensive and costs more than the benefits it offers. However, none of these preconceptions are true, and many businesses and sectors are applying it in their day-to-day business and increasing their revenue as a result.

Why is this? Artificial intelligence has long been revolutionising our world. Among its most well-known benefits in the retail space are, for example, the optimal use of the large amount of data generated by the sector, the optimisation of processes and the personalisation of the customer experience.

But that is not all. AI can be introduced to the different areas that are part of the production and sales process. With Ladorian, find out how you can implement innovative AI solutions and gain a tremendous advantage over your competitors, affordably and regardless of the size of your business.

Artificial Intelligence in Retail

Let's start at the beginning, what is artificial intelligence? There is no absolute definition, but you could say that it is programmes and algorithms that allow a machine to have capabilities similar to those of human intelligence: like reasoning, learning, analysing, etc.

In addition, AI enables technology to interact with different contextual data, perform actions, solve problems and follow clear objectives. Artificial intelligence applied to retail opens up a world of possibilities.

Optimised logistics and inventories

AI is very useful for inventory planning, e.g. it prevents overstocking and under-stocking. It also helps with inventory control. Through robots and the internet of things, it can monitor the location of items and count quantities. In the shop, it also favours the establishment of dynamic and appropriate prices based on the data collected. In terms of logistics, it evaluates the best times and routes to reduce costs, times and the environmental impact of shipments.

Digital and predictive customer support

Artificial intelligence plays a key role in uncovering the needs and problems that shop visitors and customers have. It helps consumers with possible solutions, and customer service teams by speeding up their responses with suggestions based on past experiences. Chatbots are a smart and automated form of in-store customer service. Another possibility could be Mixed Reality that simulates what it would be like to use certain products, solving doubts in an interactive way.

Marketing strategies with more benefits

AI can not only predict what customers are looking for or need to solve, but also when the time is right, therefore in terms of marketing:

• Reduces ad and engagement costs
• Reallocates investments in real time
• Helps to improve messages and content
• Allows planning based on concrete data

Personalised shopping experience

Through artificial intelligence solutions for internal and external data analysis, it is possible to predict consumer habits and needs. In this way, businesses can offer personalised shopping experiences adapted to each of the clusters, which is essential for customer loyalty and competitiveness in the face of the large number of options that currently exist.

Improve shop visuals

With tools such as heat maps, and again, by analysing consumer behaviour, it is possible to reorganise how products are presented in-store, where advertisements are placed, who they are shown to and how, and guide the customer journey to facilitate the purchase. What's more, this can be automated, saving time and opportunity.

Safer and faster payments

In-store, AI can also detect security threats in real time. This helps build customer and employee confidence by actively protecting them. Likewise, cashierless checkouts work very well to speed up payments and enable quick and independent checkout.

Smart human resources

Planning staffing, rotating shifts, or hiring employees becomes easier and more efficient when using AI that considers different variants to generate suggested schedules, etc.

Maximise your business performance with Ladorian

Ladorian helps you to implement intelligent technology solutions in your business. We adapt to your needs and attack specifically the area or areas where you have more difficulties or where you can get more benefit.

Do you want to increase your sales by 30%? We do it affordably, whether you have a small or large business, and allow for a quick return on investment. Get to know our solutions together with our sales team:

• Communicate with your customers in a unique way.
• Increase the impact of your content
• Personalise your customer communications
• Use our recommendation engine
• Advertise on our smart channels
• Make the most of your data
• Optimise your hardware usage

Contact us. We will be happy to help you!