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AI in Retail

April 27, 2021

Artificial Intelligence in Retail

In their efforts to separate themselves from the virtual world of online shopping, brick-and-mortar supermarkets are using emerging technologies of their own, putting artificial intelligence at the heart of their battle for market share. Innovative in-store shopping experiences and on-demand delivery services offer new solutions to keep the shopping experience enjoyable. Some brands are even exploring AI in their fulfillment strategies to increase customer satisfaction.

In their efforts to separate themselves from the virtual world of online shopping, brick-and-mortar supermarkets are using emerging technologies of their own, putting artificial intelligence at the heart of their battle for market share. Innovative in-store shopping experiences and on-demand delivery services offer new solutions to keep the shopping experience enjoyable. Some brands are even exploring AI in their fulfillment strategies to increase customer satisfaction.

The future of artificial intelligence is here, and it’s changing almost every aspect of the grocery shopping experience.

Artificial intelligence allows for machine learning and algorithmic retailing to come together to learn from experience and improve functions in real time. AI can even analyze results and predict future outcomes by doing what humans can’t; quickly and efficiently analyzing large amounts of data.

“It’s weaving its way into nearly everything,” says Gary Hawkins, CEO of Los Angeles-based Center for Advancing Retail & Technology. “Retailers have realized the world is changing really fast and they’re not competing just with the store down the street but with Amazon, Walmart, Kroger, who are investing tens of millions of dollars in technology every year.”

Optimizing the In-Store Experience

AI allows for an objective look at the way a business performs. Using analytics, data and predictions, AI can ensure a business is keeping the right products on the shelves at the right time. It can even ensure deliveries stay on time too.

Beyond retailers, distribution centers even use AI to fulfill orders. Wholesalers can utilize AI to get an accurate read on demand forecasting and delivery schedules.

Customer Experience is Key

While AI has unlimited possibilities in retail, it’s best to focus on practical solutions that seek to benefit both the customer and their shopping experience. Walmart’s Intelligent Retail Lab (IRL) does that by simplifying the shopping experience through state-of-the-art hardware and software technologies – uncovering the true potential of AI-powered retail.

To remove friction from customers’ shopping experience, Walmart is streamlining the inventory process  and making sure shopping carts are accessible and registers are open.

The key to a better in-store experience for customers is optimizing inventory and availability. AI-powered technology can use data points to immediately review efficiencies to help retailers know when to restock products, making items readily available on the shelf.

Grocers can also mitigate common problems with inventory by adding better technology at the source of the issue – the shelving display. Look at your produce aisle, or more specifically the bagged produce section. It can often be disarrayed with bags falling off the shelves and products in the wrong spot. Untidy shelves complicate the restocking process for employees and turn customers away.

The simple answer to those inventory challenges is SpaceGrid® II pusher display systems from Retail Space Solutions. The innovative design in SpaceGrid II features trays that easily slide forward for efficient backfilling and inventory management. At the same time, the patented controlled-pusher movement provides just the right tension to securely push products forward – while keeping them in the right place and reducing the risk of false out-of-stocks.

With the SpaceGrid II, you can ensure attractive, organized displays that drive quick buying decisions – ultimately improving the customer shopping experience and your bottom line.

For more information on the SpaceGrid II or other pusher trays from Retail Space Solutions, visit www.retailspacesolutions.com or call 1-800-279-5291.