Generative AI or GenAI is set to transform almost every industries.
Globally, around 2.2 billion people are actively involved in online shopping. By end of 2023, global retail e-commerce sales touched an around 5.8 trillion U.S. dollars. However, with the advent of Artificial Intelligence, new things are coming to help both customers and retailers. Google, with the help of new Artificial Intelligence technologies, is bringing remarkable changes in travel and shopping experiences.
In this article, we will discuss how artificial intelligence is revolutionizing retail industry globally.
Generally, we ask a lot of questions while buying any item. In physical stores, people are their too guide customer, but what about solving those queries on online mode? Owning to generative AI, retailers are using virtual shopping assistants. These AI enabled tools are directly interacting with customers either by speaking or texting. This is making easier for any customer to find specific product. No need to waste your time on adding filters. You just need to ask what you need! Amazing, right?
Even couple of years ago, virtual assistance was not upto the mark. Now, with advanced technologies, you can choose any item and check how it would look on you.
The new generative AI feature has brought a new level of realism. According to Google: “The generative AI model can take just one picture of an item of clothing and accurately show how it would cling, drape, etc., on a diverse range of real models from sizes XXS to 4XL and representing different skin tones and ethnicities.”
Scientists are trying to bring such tool that will allow customers to generate a realistic avatar of themselves. It will help customers totally visualise products right for them or not.
Nowadays, augmented reality (AR) and virtual reality (VR) are becoming more popular and people are curious to know more about it. GenAI is creating immersive virtual shopping experiences for customers. This is what new metaverse concept is all about. The Facebook parent is creating a platform where there is everything for everyone, from playing games to shopping favourite items, all under one roof.
Already, visionary retailers are making their presence in the metaverse to generate immersive, interactive, and more customised virtual stores. Global brand Nike is already a leader in the metaverse space.
Everyday, we get confused by looking at reviews of conflicting views. To avoid this problem, e-commerce websites are preparing summary of reviews to provide essential information within a paragraph. This will save the time and improve sales. Meanwhile, amazon has already started implementing this feature through GenAI.
What about creating wardrobe of your own choice? When customers are empowered, the sale increases. That's what happened for ‘Make youe own’ concept. Be it icecream or dress! Now, generative AI is helping customers to create their own and unique products. One example for this is Ablo, an AI design tool that allows customers for wonderful co-creation.
Not only in online shopping, physical stores are also improving outlook. To attract more customers, retailers are using augmented reality and virtual reality in display board. For example, the retailers are creating virtual snowfall experience in the winter wear section.
Very soon, we may observe smart mirror in shopping malls.
From providing smooth online shopping experience to improving physical stores, embracing artificial intelligence by retail industry is definitely bringing delightful smile on customer’s face.
