Shopping can be a fun activity or an absolute nightmare. Online and offline retail stores are so crowded with products that it sometimes is very difficult to make a decision. Many people tend to forget what they came to buy and the continuous popping up of the online chatbot can sometimes be irritating. How do we avoid this? AI and Internet of Things (IoT) come to your rescue. For those who just want to avoid spending time at the store, they prefer to order their goods online. So how does one make this activity better?
Online retailers can easily remember and recollect what a particular person ordered and can build a suggested shopping list for people who want a quick checkout. With AI tools, retailers can thus spend their marketing dollars on people who are interested in shopping rather than those who don’t enjoy it. The same can be applicable for brick and mortar stores. Imagine a retailer storing your shopping data/ habits. Imagine being able to avoid the long lines and the crowds and still getting all the products that you wanted! A husband’s paradise!! With AI and IoT, machines can be trained to anticipate your purchases, likes dislikes. AI will be able to promote brands/ products that complement certain products in a much smarter way.
Amazon has come up with dash buttons which let people order their monthly requirement of a brand with the push of a button. If you need to order Tide, you just need to push a button that is fixed near the place you store your detergent powder. This button is connected to your mobile app through Amazon and sends a message to the site through the app. Strike that off your list! With these you may not go and do your monthly shopping as you already order everything that you need with Dash buttons. This will slowly push us to a World where retail will mean something different from what we see today. While that future is not clear, it is clear that technology, AI and IoT will be shaping the future of retail. Having the knowledge and skills will surely let us be a step ahead of our competition and let us acquire companies rather than looking for investments and getting acquired!!