{"id":7496,"date":"2023-12-11T01:30:00","date_gmt":"2023-12-10T20:00:00","guid":{"rendered":"https:\/\/www.vue.ai\/blog\/?p=7496"},"modified":"2024-01-09T19:58:52","modified_gmt":"2024-01-09T14:28:52","slug":"benefits-of-ai-in-retail-for-2021","status":"publish","type":"post","link":"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/","title":{"rendered":"Artificial Intelligence (AI) in Retail 2024 &#8211; 7 Real World Use Cases"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69fae96255936\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69fae96255936\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#why-every-retailer-should-adapt-to-artificial-intelligence-ai\" title=\"Why every retailer should adapt to Artificial Intelligence (AI)?\">Why every retailer should adapt to Artificial Intelligence (AI)?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#the-data-challenge\" title=\"The data challenge\">The data challenge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#artificial-intelligenceai-in-retail-2024\" title=\"Artificial Intelligence(AI) in Retail 2024\">Artificial Intelligence(AI) in Retail 2024<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#7-use-cases-of-artificial-intelligence-ai-in-retail\" title=\"7 Use Cases of Artificial Intelligence (AI) in Retail\">7 Use Cases of Artificial Intelligence (AI) in Retail<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#1-data-creation-and-labeling\" title=\"1. Data creation and labeling\">1. Data creation and labeling<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#2-data-structuring-and-transformation\" title=\"2.&nbsp;Data Structuring and Transformation\">2.&nbsp;Data Structuring and Transformation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#3-data-insights-to-drive-better-decisions\" title=\"3.&nbsp;Data Insights to drive better decisions\">3.&nbsp;Data Insights to drive better decisions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#4-product-discovery\" title=\"4.&nbsp;Product Discovery\">4.&nbsp;Product Discovery<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#product-visualization-visual-merchandising\" title=\"Product Visualization \/Visual Merchandising\">Product Visualization \/Visual Merchandising<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#5-real-time-personalization-of-the-shopper-journey\" title=\"5. Real-time personalization of the shopper journey\">5. Real-time personalization of the shopper journey<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#6-personalized-curation\" title=\"6. Personalized Curation\">6. Personalized Curation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#7-cart-abandonment-emails\" title=\"7. Cart Abandonment Emails\">7. Cart Abandonment Emails<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#general-faq\" title=\"General FAQ\">General FAQ<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#read-more-about-virtual-dressing-room\" title=\"Read More About&nbsp;Virtual Dressing Room\">Read More About&nbsp;Virtual Dressing Room<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#read-more-about-personalized-search\" title=\"Read More About&nbsp;Personalized Search\">Read More About&nbsp;Personalized Search<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#read-more-about-personalization-engine\" title=\"Read More About\u00a0Personalization Engine\">Read More About\u00a0Personalization Engine<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#read-more-about-product-recommendation-engine\" title=\"Read More About&nbsp;Product Recommendation Engine\">Read More About&nbsp;Product Recommendation Engine<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#read-more-about-outfit-recommendation-solution\" title=\"Read more about Outfit Recommendation Solution\">Read more about Outfit Recommendation Solution<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#read-more-about-automated-catalog-management-solution\" title=\"Read More About Automated Catalog Management Solution\">Read More About Automated Catalog Management Solution<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">11<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<p>It is estimated that there are about 2 million fashion brands in the world &#8211; and growing. The retail industry is growing at an incredible pace and customers are finding themselves increasingly spoiled for choice. The flip side &#8211; brand loyalty and recall is dropping fast.<\/p>\n\n\n\n<p>Customers are increasingly paring down their shopping to brands that connect with them, brands that offer personalized experiences, and talk to them on the channels that they are using.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"why-every-retailer-should-adapt-to-artificial-intelligence-ai\"><\/span><strong>Why every retailer should adapt to Artificial Intelligence (AI)?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The new generation of shoppers, the millennials, expect bespoke shopping experiences in real-time and at the lowest price. They expect the retailer to know them as well <strong>as their local grocer used to<\/strong>. They don\u2019t want to be flooded with thousands of irrelevant products. Instead, they want <strong>shorter wait times, quicker order fulfilment, <a href=\"https:\/\/www.vue.ai\/products\/product-recommendations\/\">personalized product recommendations<\/a><\/strong> <strong>&amp;<\/strong> <strong>frictionless checkout experiences.<\/strong> This new generation was brought up in a digital world where they can find multiple options with a click of a button. They are used to Amazon\u2019s seamless shopping experience. This means <strong>retailers today have to adapt Artificial Intelligence (AI) to survive.<\/strong><\/p>\n\n\n\n<p>Research shows that when shopping experience is highly personalized, customers indicated that they were <strong>110%<\/strong> more likely to add additional items to their baskets &amp; <strong>40%<\/strong> more likely to spend more than they had planned.<\/p>\n\n\n\n<p>It is also increasingly clear that while retail is not exactly dead, it is undergoing a metamorphosis. There is still value in the offline. In fact, Doug Stephens,&nbsp;The Retail Prophet points out that stores need to see themselves as an extension of their media platform.<\/p>\n\n\n\n<p><strong><em>Are you on the right channel, at the right time?<\/em><\/strong><\/p>\n\n\n\n<p><span style=\"font-size: 16px\">The use case for the store is now to deliver a<a href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/ecommerce-user-experience-best-practices\/\"> high level of experience<\/a> &#8211; sensory and emotional in a way that is memorable and trust-building. But online is where sales are moving.<\/span><\/p>\n\n\n\n<p><em>Approximately $5T of the $28T retail market is now online.<\/em><\/p>\n\n\n\n<p>Retailers are finding their biggest competitors online. Social media platforms like Netflix, Instagram, Snapchat, and the likes have achieved the level of individualization and experiential content needed for a platform to become habit-forming &#8211; something that retail has fallen behind on. Shopping too is moving to these platforms.<\/p>\n\n\n\n<p>And a large amount of this shopping is being driven by <a href=\"https:\/\/www.accenture.com\/us-en\/insight-redesigning-retail-next-generation\">millennials and Gen Z.<\/a><\/p>\n\n\n\n<p>It is easy to spot an item of interest on a platform, get recommendations, and opinions from friends and family, purchase the item of choice all within the same app and have the entire experience be tailored to the individual.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the-data-challenge\"><\/span>The data challenge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A presence online is not going to solve retail\u2019s problems completely. Retail\u2019s bigger issue is the lack of accurate data. Even the data that is available ends up being used ineffectively or in a way that doesn\u2019t provide a singular view into the customer across channels.<\/p>\n\n\n\n<p>Consider this &#8211; bad data has cost US businesses <strong>$3.1T<\/strong> every year, &amp; data workers waste<strong> 50%<\/strong> of their time finding and correcting errors.<\/p>\n\n\n\n<p>The challenge for brands in this atmosphere is two-fold:<br><em>1. Know the customer well.<\/em><br><em>2. Use the customer data and build operational efficiency into their systems.<\/em><\/p>\n\n\n\n<p>Accurate data can bring optimization, automation, and competence. And the best way to use data to bring about this <a href=\"https:\/\/www.vue.ai\/blog\/retail-vue\/retail-in-the-era-of-hyper-adoption-and-hyper-abandonment\/\">hyper-personalized experience<\/a> is through Artificial Intelligence.<\/p>\n\n\n\n<h2 class=\"section wp-block-heading\"><span class=\"ez-toc-section\" id=\"artificial-intelligenceai-in-retail-2024\"><\/span>Artificial Intelligence(AI) in Retail 2024<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/02\/Screenshot-2020-02-25-at-6.32.18-PM-300x103.png\" alt=\"AI in Retail 2021\" class=\"wp-image-7513\" width=\"463\" height=\"159\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/02\/Screenshot-2020-02-25-at-6.32.18-PM-300x103.png 300w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/02\/Screenshot-2020-02-25-at-6.32.18-PM-768x264.png 768w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/02\/Screenshot-2020-02-25-at-6.32.18-PM.png 967w\" sizes=\"(max-width: 463px) 100vw, 463px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<p>AI is retail\u2019s superpower. Retail is, in fact, one of the few industries where the adoption of Artificial Intelligence (AI) is being seen in a meaningful and actionable manner. Every step of the retail process has the ability to be automated by AI in a way that would increase accuracy, efficiency, and scaling of operations. From customer acquisition using reliable data to catalog and inventory management to post-purchase experience &#8211; AI has the ability to impact retail in a holistic end-to-end manner. <\/p>\n\n\n\n<p>With Artificial Intelligence (AI), retailers can create data models to derive insights and in-turn build prescriptive or predictive decision engines. This can help retailers with things like demand forecasting allowing them to make better data-driven decisions.<\/p>\n\n\n\n<p>Artificial Intelligence(AI) in Retail can also be used to structure and transform data from a semi-structured or an unstructured format to the one used by the marketplace. Algorithms can be used to identify and transform attributes from tables of data or even paragraphs of text<\/p>\n\n\n\n<p>Here are a few use cases of Artificial Intelligence(AI) in Retail.<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"f962\"><span class=\"ez-toc-section\" id=\"7-use-cases-of-artificial-intelligence-ai-in-retail\"><\/span>7 Use Cases of Artificial Intelligence (AI) in Retail<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:25%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\t\t<div class=\"wp-block-web-stories-embed web-stories-embed alignnone\">\n\t\t\t<div class=\"wp-block-embed__wrapper\" style=\"--aspect-ratio: 0.600000; --width: 360px; --height: 600px\">\n\t\t\t\t<amp-story-player>\n\t\t\t\t\t<a href=\"https:\/\/www.vue.ai\/blog\/web-stories\/artficial-intelligence-in-retail-2020\/\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img\n\t\t\t\t\t\t\t\tsrc=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2019\/09\/shutterstock_1041018826.jpg\"\n\t\t\t\t\t\t\t\twidth=\"360\"\n\t\t\t\t\t\t\t\theight=\"600\"\n\t\t\t\t\t\t\t\talt=\"Artficial Intelligence (AI) in Retail 2020 \u2013 7 Real World Use Cases\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\t\t\tdata-amp-story-player-poster-img\n\t\t\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/amp-story-player>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:25%\"><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1-data-creation-and-labeling\"><\/span>1. <strong>Data creation and labeling<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The problem of inaccurate and inconsistent data causing AI to take bad decisions can itself be solved by AI. AI-powered data creation and labelling happen right at the start of the product digitization process.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/1600\/1*AFHAnKy4F6sARLn-uidCSA.png\" alt=\"Product Tagging Challenges | AI in Retail 2021\" width=\"580\" height=\"305\"\/><figcaption>Challenges with Product Tagging<\/figcaption><\/figure><\/div>\n\n\n\n<p>Artificial Intelligence(AI) can help in creating rich metadata for each and every product, eliminating human fatigue and errors. This can be done using Computer Vision algorithms which can automatically identify various attributes of a product and tag them accurately. The same algorithm can also be used to generate titles and descriptions for the product resulting in SEO-ready rich metadata which is easily searchable.<\/p>\n\n\n\n<p>Reliable,&nbsp;<a href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/metadata-how-discoverable-is-your-product\/\" target=\"_blank\" rel=\"noreferrer noopener\">SEO-ready tags, titles and descriptions<\/a>&nbsp;can considerably boost product discoverability on search engines like Google and Bing. They enhance the metadata of the catalog, augmenting the quality of information available on each product. This metadata will also be indexed by search engines, and in turn, boost the ranking of the product in the SERP. When this metadata is combined with customer ratings and reviews, the product can reach the very top of the SERP resulting in an instant boost to the sales of the product.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.vue.ai\/\" target=\"_blank\" rel=\"noreferrer noopener\">Vue.ai<\/a>&nbsp;uses Machine Learning (ML) to comprehend the taxonomy of each and every outfit, train the machine using in-house neural networks, which it then uses to generate tags for the outfit. Automated product tagging gives more accurate attributes for products and helps in better search results.<\/p>\n\n\n\n<p>Image recognition driven product digitization produces above 90% accuracy and a more than 20% conversion through better search, browse and SEO.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2-data-structuring-and-transformation\"><\/span>2.<strong>&nbsp;Data Structuring and Transformation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Data, once created or extracted from the manufacturer&#8217;s catalog, now needs to be structured and transformed so that it remains consistent across several products, product types, and brands. A marketplace that sells products from hundreds of brands would find it extremely difficult to manually structure data. <\/p>\n\n\n\n<p>For example, brand A might call the color of a dress orange and brand B might call it tangerine sunset. While searching for orange dresses, brand B\u2019s dress will not be shown resulting in low discoverability. Now imagine this problem across hundreds of thousands of products across attributes like size, color, neckline, dress length, sleeve length, pattern, etc. If a marketplace sells products across categories like fashion, electronics, and furniture, this can get even messier resulting in irrelevant search results that directly impact the revenue of the marketplace.<\/p>\n\n\n\n<p>Artificial Intelligence(AI) in Retail can be used to structure and transform data from a semi-structured or an unstructured format to the one used by the marketplace. Algorithms can be used to identify and transform attributes from tables of data or even paragraphs of text. Once it is trained with enough data, patterns can be identified and auto-suggestion of attributes can be used to quickly digitize products across brands and categories. This can help in cleaning up, grouping, categorizing, searching, sorting, and filtering data on the marketplace.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3-data-insights-to-drive-better-decisions\"><\/span>3.&nbsp;<strong>Data Insights to drive better decisions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The data that has been created, labelled and structured can now be analyzed to identify trends and patterns that can help make better decisions. Exploratory analytics is the most basic thing that can be done with the data to identify trends like \u201cthe revenue in the top-wear segment went up by 23% this month\u201d. While this is fairly simple, this kind of analytics cannot be used to automate decision-making engines.<\/p>\n\n\n\n<p>With Artificial Intelligence(AI), retailers can create data models to derive insights and in-turn build prescriptive or predictive decision engines. This can help retailers with things like demand forecasting allowing them to make better data-driven decisions. With time, these predictive models can learn to make better decisions taking more and more data into consideration allowing the retailer to accurately forecast trends and be prepared for them.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4-product-discovery\"><\/span>4.&nbsp;<strong>Product Discovery<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Product discovery is the first, and most crucial step in a shopper\u2019s journey. A simple and straightforward discovery process can endear the retailer to the shopper. A shopper who finds exactly what they are looking for is way more likely to come back to the same retailer for their next purchase. On a website, discovery begins with the site <a href=\"https:\/\/www.vue.ai\/products\/ai-powered-personalized-search\/\">personalized search<\/a>.<\/p>\n\n\n\n<p><em>59% of web visitors frequently use the internal search engine to navigate on a website.<\/em>   &#8211; Neil Patel<\/p>\n\n\n\n<p>Search engine users are high intent shoppers and represent a crucial segment of any\u00a0e-commerce\u00a0site. The results of a search on a website need to capture the intent of the query and show products that match the search term as close as possible. <\/p>\n\n\n\n<p>With accurate, consistent, and structured data, the problem is no longer about the relevance of the results to the search but more about the relevance of the results to each individual. In other words, are the search results personalized to each individual\u2019s style preferences?<\/p>\n\n\n\n<p>For example, given the search term below<em>&nbsp;\u201cWine Ralph Lauren Off Shoulder Evening Dress\u201d<\/em>, it is important to make a clear distinction in the search results for Becky and Lisa, given that Becky has a greater affinity towards the brand and Lisa that prefers having dresses that are closer to her color preference.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/1154\/1*WFgWbX2fcege6n3j4wKqkA.png\" alt=\"AI-powered site search\"\/><figcaption> AI-powered site search<\/figcaption><\/figure><\/div>\n\n\n\n<p>As seen above, an AI-powered <a href=\"https:\/\/www.vue.ai\/blog\/vuecommerce\/retail-personalization-in-2021\/\">Retail personalization<\/a> search in retail can help tailor the search results, by boosting specific affinities for each shopper. Each click can be used to learn about the shopper\u2019s preferences and converge to a hyper-relevant search bar that understands the customer.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"product-visualization-visual-merchandising\"><\/span><strong>Product Visualization \/Visual Merchandising<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Fashion websites need to stop using flat lay images and ghost mannequins for product visualization. When shoppers see products on models, they are able to visualize them better. It is even better when shoppers can see dresses draped on models of various sizes and ethnicities which can help depict The website and the products become more relevant to them and they are able to relate better. This leads them to browse and engage more.<\/p>\n\n\n\n<p>A large chunk of\u00a0eCommerce\u00a0returns today happens because shoppers feel the product looks different in person. Retailers can help shoppers understand products better by showcasing them on models they can relate to, in realistic sizes similar to their own.<\/p>\n\n\n\n<p>This means retailers need to show the same garment on<br>&#8211; Models of different ethnicities<br>&#8211; Models standing in various poses<br>&#8211; Models of different sizes<\/p>\n\n\n\n<p>Retailers across the globe spend approximately $100 to $1000 per product on photography and digitization. The&nbsp;<a href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/reduce-photoshoot-costs-guide\/\" target=\"_blank\" rel=\"noreferrer noopener\">high cost of product visualization<\/a>&nbsp;manually also means the merchandise is more likely to be non-inclusive and fails to give an accurate picture of the product. The time-to-market is also prohibitively slow and expensive.<\/p>\n\n\n\n<p>Instead, retailers can use AI to generate\u00a0<a href=\"https:\/\/www.vue.ai\/products\/outfit-recommendations\/\" target=\"_blank\" rel=\"noreferrer noopener\">automated on-model fashion imagery\u00a0<\/a>using Generative Adversarial Networks (GANs) and drape the same <a href=\"https:\/\/www.vue.ai\/products\/on-model-imagery\/\">dress on models<\/a> of various sizes and ethnicities standing in different poses without having to photograph all of this manually. This can reduce photoshoot costs, and speed up go-to-market while at the same time, increasing shopper engagement and conversions, and reducing returns.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/1600\/1*x1MIY92qkHa-Ed-VAa82Ww.png\" alt=\" AI-generated models showing garments on models of various sizes\"\/><figcaption><a href=\"https:\/\/www.vue.ai\/products\/on-model-imagery\/\">AI-Generated models<\/a> showing the same garment in multiple sizes<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5-real-time-personalization-of-the-shopper-journey\"><\/span><strong>5. Real-time personalization of the shopper journey<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 2022, brands need to know the shopper as well as the shopper knows the brand. Brands need to understand the visual preferences and style of each shopper to tailor journeys exclusively for each shopper. Brands need to create a style profile for each shopper to personalize content, offers, and products across all channels. But what is a style profile?<\/p>\n\n\n\n<p>Style is a combination of visual and non-visual preferences like colors, budget, patterns, sleeve length, collar type, brand, etc. A shopper is far more likely to buy if the products are close to their personal visual style. No two people look at a product in the same way. Each shopper has their own unique style that is bound to influence their decision to choose a preferred website to shop on. It is possible to glean the style profile of each shopper not only from their purchase history but from each click on the website.<\/p>\n\n\n\n<p>With <a href=\"https:\/\/www.vue.ai\/solutions\/ai-personalization-engine\/\">real-time personalization<\/a>, retailers can understand shopper intent with each click and serve personalized <a href=\"https:\/\/www.vue.ai\/products\/product-recommendations\/\">product recommendations<\/a> with the highest likelihood of engagement.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/1536\/1*irgVjLfa6GAzjFdYJgVlCA.png\" alt=\"Real-time Personalization in Retail | AI in Retail 2021\"\/><figcaption>         Real-time Personalization in Retail<\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6-personalized-curation\"><\/span><strong>6. Personalized Curation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Shoppers in 2022 don\u2019t want page after page of irrelevant products. Instead, they are looking for unique collections curated specifically with their tastes in mind. They expect stylists to personalize the whole look according to their own style profile. However, personalizing hundreds of looks for each shopper will need a whole army of stylists toiling away for days.<\/p>\n\n\n\n<p>An\u00a0<a href=\"https:\/\/www.vue.ai\/products\/outfit-recommendations\/\" target=\"_blank\" rel=\"noreferrer noopener\">AI styling assistant<\/a>\u00a0can curate looks, mood boards, outfits, and collections for each shopper based on their visual style preferences. Each shopper gets personalized styling recommendations for every product they browse, increasing the number of items in the cart while at the same time giving a great experience to the shopper.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7-cart-abandonment-emails\"><\/span><strong>7. Cart Abandonment Emails<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/shopping-cart-abandonment-ultimate-guide\/\">Shopping cart abandonment<\/a> is when a high-intent shopper visits an&nbsp;ecommerce&nbsp;website, adds at least one product to the shopping cart and proceeds to exit the website without completing the purchase. Retailers were reported to have lost a whopping $4.6 trillion to abandoned merchandise in online shopping carts according to&nbsp;Business Insider.<\/p>\n\n\n\n<p>While retailers can do simple fixes to prevent cart abandonment like decreasing the load time, optimizing the website for mobile devices, keeping checkouts short and simple, keeping all pricings transparent, cart abandonment is still bound to happen.<\/p>\n\n\n\n<p>Cart recovery emails are used by more than 62% of retailers around the world and are a proven way to recover carts. Nearly half of all abandoned cart emails are opened and over a third of clicks lead to purchases back on site according to\u00a0Shopify.<\/p>\n\n\n\n<p>But shoppers get emails from multiple websites every single day. How can retailers make their mails stand out?<\/p>\n\n\n\n<p>An AI-powered cart recovery tool that recommends visually similar products and styling suggestions personalized by understanding each shopper\u2019s visual style profile can power\u00a0compelling cart abandonment emails\u00a0that make cart recovery a habit. These emails add value to shoppers and one open can lead to shoppers opening every subsequent email as the content is completely personalized. This not only recovers the cart but also tells the shopper that the retailer understands them.<\/p>\n\n\n\n<div class=\"wp-block-image is-style-default\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/06\/AI-in-Retail-infographic-1-410x1024.png\" alt=\"7 Use cases of Ai in retail\" class=\"wp-image-8248\" width=\"361\" height=\"902\" title=\"Use cases of AI in retail\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/06\/AI-in-Retail-infographic-1-410x1024.png 410w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/06\/AI-in-Retail-infographic-1-120x300.png 120w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/06\/AI-in-Retail-infographic-1-768x1920.png 768w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/06\/AI-in-Retail-infographic-1-614x1536.png 614w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/06\/AI-in-Retail-infographic-1.png 800w\" sizes=\"(max-width: 361px) 100vw, 361px\" \/><figcaption>      7 Use cases of Artificial Intelligence(AI) in Retail 2024<\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><span style=\"font-size: 16px\">Artificial Intelligence(AI) in Retail can help teams across the globe improve efficiencies across their workflows. Automation processes help brands with accurate data creation and help provide context around shoppers\u2019 needs and behaviours. <\/span><\/p>\n\n\n\n<p><span style=\"font-size: 16px\">By getting access to this accurate data and using it across personalization, styling, and customized marketing, brands can leverage this information to curate experiences that are meaningful and valuable to the shopper.<\/span><\/p>\n\n\n\n<p>Today, intelligent retail automation is about leveraging the power of data. The amount of data that needs to be processed from even a single shopper with several touchpoints across multiple channels makes automation a necessity, not a luxury. Failure to automate can even lead to retailers missing out on capturing data completely. And in a data-driven economy, this can have dire consequences.<\/p>\n\n\n\n<p> There is a constant need to create, use, analyze and distribute data in a timely manner for instant contextual decision making and value creation. This can only be done with automated systems capturing data across different touchpoints and channels.<\/p>\n\n\n\n<p>Retailers today not only need automation to capture data across touchpoints and channels but also need to unify this data to speak in a single voice to the shopper. A shopper should be able to transition seamlessly from online to offline and back online again. This means, the data captured on a website should be available to the sales assistants in-store and the products bought by a customer in-store should be used to improve the recommendations on the website. Data cannot be isolated in silos. It needs to flow both ways and help provide a complete story about each shopper.<\/p>\n\n\n\n<p>With the power of data, intelligent retail automation can completely transform how retail teams function. Automation can completely take care of efficiency, giving retail teams time to think creatively and provide incredible experiences both online and in-store.<\/p>\n\n\n\n<p>When retail truly becomes efficient and experiential, customers can enjoy the thrill and the magic of shopping anywhere, anytime.<\/p>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"general-faq\"><\/span>General FAQ<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1606905392931\"><strong class=\"schema-faq-question\">How is AI used in retail?<br\/><\/strong> <p class=\"schema-faq-answer\">Every step of the retail process has the ability to be automated by AI in a way that would increase accuracy, efficiency, and scaling of operations. From customer acquisition using reliable data to catalog and inventory management to post-purchase experience &#8211; AI has the ability to impact retail in a holistic end-to-end manner. With Artificial Intelligence (AI), retailers can create data models to derive insights and in-turn build prescriptive or predictive decision engines. This can help retailers with things like demand forecasting allowing them to make better data-driven decisions.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1606905586277\"><strong class=\"schema-faq-question\">What are the AI use cases in retail?<\/strong> <p class=\"schema-faq-answer\">Here are the most important AI use cases in retail.<br\/><br\/>1. Data creation and labelling<br\/>2.\u00a0Data Structuring and Transformation<br\/>3.\u00a0Data Insights to drive better decisions<br\/>4.\u00a0Improve Product Discovery<br\/>5. Product Visualization \/Visual Merchandising<br\/>6. Real-time personalization (<a href=\"https:\/\/www.vue.ai\/solutions\/ai-personalization-engine\/\">personalization engine<\/a>) of the shopper journey<br\/>7. Personalized Curation<br\/>8. Personalized Cart Abandonment Emails<br\/><br\/><\/p> <\/div> <\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"read-more-about-virtual-dressing-room\"><\/span><strong>Read More About&nbsp;<a href=\"https:\/\/www.vue.ai\/products\/virtual-dressing-room\/\">Virtual Dressing Room<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"read-more-about-personalized-search\"><\/span>Read More About&nbsp;<a href=\"https:\/\/www.vue.ai\/products\/ai-powered-personalized-search\/\">Personalized Search<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"read-more-about-personalization-engine\"><\/span>Read More About\u00a0<a href=\"https:\/\/www.vue.ai\/solutions\/ai-personalization-engine\/\">Personalization Engine<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"read-more-about-product-recommendation-engine\"><\/span>Read More About&nbsp;<a href=\"https:\/\/www.vue.ai\/products\/product-recommendations\/\">Product Recommendation Engine<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"read-more-about-outfit-recommendation-solution\"><\/span><strong>Read more about<\/strong><a href=\"https:\/\/www.vue.ai\/products\/outfit-recommendations\/\"><strong> Outfit Recommendation<\/strong><\/a><strong> Solution<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"read-more-about-automated-catalog-management-solution\"><\/span><strong>Read More About<\/strong><a href=\"https:\/\/www.vue.ai\/industries\/ai-in-ecommerce\/\"><strong> Automated Catalog Management<\/strong><\/a><strong> Solution<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">11<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span> With Artificial Intelligence (AI), retailers can create data models to derive insights and in-turn build prescriptive or predictive decision engines. This can help retailers with things like demand forecasting allowing them to make better data-driven decisions.<\/p>\n","protected":false},"author":24,"featured_media":7544,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[261],"tags":[176,526,101,518,171],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Artificial Intelligence(AI) in Retail 2024 - 7 Real World Use Cases<\/title>\n<meta name=\"description\" content=\"Artificial Intelligence(AI) in Retail: AI and Automation can help retail teams across the globe improve efficiencies across their workflows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Artificial Intelligence(AI) in Retail 2024 - 7 Real World Use Cases\" \/>\n<meta property=\"og:description\" content=\"Artificial Intelligence(AI) in Retail: AI and Automation can help retail teams across the globe improve efficiencies across their workflows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Vue.ai Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vueai\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-10T20:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-09T14:28:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/02\/Banner-02.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1921\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Shyam Ravishankar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@vue_ai\" \/>\n<meta name=\"twitter:site\" content=\"@vue_ai\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shyam Ravishankar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"15 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/\"},\"author\":{\"name\":\"Shyam Ravishankar\",\"@id\":\"https:\/\/www.vue.ai\/blog\/#\/schema\/person\/8c0c1121ad2d3c52b77b3d7c65554d60\"},\"headline\":\"Artificial Intelligence (AI) in Retail 2024 &#8211; 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