5 Benefits Of Artificial Intelligence In Retail

Artificial Intelligence: Today, at some point in your day, you received information through a chatbot, had personalized directions on your smartphone, or even used GPS to get somewhere.

You know that you used artificial intelligence resources. What seemed like a reality worthy of futuristic films now allows many sectors to gain productivity and even economy using technology. In trade marketing, it is no different: retail, industries, distributors and agencies have the numerous benefits of artificial intelligence. 

By using intelligent resources, trade marketing sectors can make quick decisions, have accurate information and ensure more productivity for the field team. In addition, artificial intelligence can be strategic for enchantment and shopper loyalty.

Know The Benefits Of Artificial Intelligence

If you are curious about how this is possible, continue reading this content. We’ve listed five benefits of artificial intelligence for retail so you can understand even more about what’s already available in the market.

#1 Benefits Of Artificial Intelligence In Field Team Productivity

One of the significant challenges of the trade sectors is to ensure that the time of sales promoters in the store is used in the best possible way. That is, allowing these professionals to collect data on the SKUs of their brand (presence, number of fronts, price, share, among other vital references), analyze competitors, and build a good relationship in stores. 

This is where AI can come into the picture. With Image Recognition technology applied to the trade, the time to collect information at the POS drops from 15 to 2 minutes. A reduction of more than 85% of the time promoters spend searching for the data must be passed on to the back office.

With this, the team on the field can:

  • visit more stores on the route
  • strengthen the relationship with store managers
  • earn extra points
  • support promotional activities

#2 POV Analysis With A Photo

If you were in doubt about the previous point about how it is possible to reduce the data collection time at the POS from 15 to 2 minutes, the answer is simple: with a photo of the gondola. Through the Image Recognition feature, sales promoters only need to take a photo for all POS data to be analyzed by the artificial intelligence feature. 

Customers who already use the tool developed by Involves have more than 93% of the data from the photos. In the case of manual searches, without using Image Recognition, the information used often does not reach 30%. It is as if 70% of the data collected in the field had no use and was discarded. This happens because of possible failures in the annotations that can lead to inconsistencies in the data. 

In Image Recognition, the photo is automatically analyzed by the system. The technology can identify product packaging, shelf size, price tag and breakage.

#3 Delight Shoppers With Artificial Intelligence

Virtual assistants also enter the list of benefits of artificial intelligence for retail. One example is Magazine Luiza, which has undergone a major digital transformation.

More than creating its virtual assistant, the retailer carried out vital marketing work so that the “virtual saleswoman” also became a digital influencer. In addition to interacting with people who send messages, it presents the benefits of available products and acts as a tool for technological inclusion. 

This only happened because the company realized that many consumer complaints happened. After all, they did not understand the features of the products. 

#4 Generate More Insights With Artificial Intelligence

As we have already mentioned in this post, artificial intelligence guarantees assertive data. In Image Recognition, for example, the system’s analysis of the photo of the shelf has hit rates above 90%. 

These indicators are valuable for agile decision making. The back-office team can monitor the situation of competitors, assess whether your brand’s space at the POS is adequate, define whether the product mix is ‚Äč‚Äčideal for a given channel and verify that the pricing is correct.

In case of inconsistencies or need for improvements, it is possible to take immediate actions in the market. Customers who use the system at Involves Stage guide promoters directly through the tool, chat, or simplified update of forms. 

#5 Connect Artificial Intelligence With Perfect Store

Our last point connects Image Recognition capabilities to a Perfect Store strategy. With all the benefits that we have already listed, artificial intelligence allows an even more accurate monitoring of price, presence, share or extra points, which are part of the Perfect Store methodology.

With this connection of accurate data, the shopping process becomes an enriching experience for shoppers. Talking about Image Recognition in the POS may seem like a futuristic idea. But isn’t that precisely what the world’s most innovative companies do?

Also Read: How Intelligent Can AI Be?

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