The Impact of AI-Powered Robots on the Retail Industry

Retailers and big stores are adding robots to the aisles of their stores to increase sales, lighten the burden of employees, and address the present labor problem. These robots can scan price tags and look for out-of-stock products with cameras and sensors. Large retailers like Walmart’s Sam’s Club and BJ’s Wholesale already use these robots.

One of the biggest problems that businesses encounter is inventory management. According to NielsenIQ, Missed sales from out-of-stock merchandise and bare shelves cost US retailers $82 billion in 2021.

Several businesses, like Simbe Robotics and Bossa Nova Robotics, are involved in this field.

Improving Customer’s In-store Experience

Retailers can provide customers with in-store tablets to browse and order items unavailable at that location. Customers can buy online and choose delivery to the most suited address. Before settling on a new layout, retailers can employ AI to simulate how consumers travel around the shop based on various configurations and how it affects spending.

AI’s Personalization Shopping Experience

By using technologies like face recognition and computer vision to identify consumers when they visit a store and present tailored options, AI can personalize the shopping experience for customers. Additionally, depending on a customer’s preferences and prior purchases, AI-driven recommendation engines may provide customized product recommendations. AI-powered chat bots may also provide consumers with real-time product suggestions and respond to their questions. They assist them in navigating the shop to locate what they’re looking for.

AI’s Automated Shopping  Experience

AI is shaping the automated shopping experience. It reduces labor costs and promotes efficiency. Retailers can leverage AI-based technologies such as facial recognition to recognize customers as they enter the store. With this, no one has to waste time in lines. Moreover, AI-powered robots can perform tasks such as order fulfillment autonomously.

The featured image is from retailgazette