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eLearning > Retail > Omnichannel Retail > Module 5 / 5

Artificial Intelligence in Retail

Instructor: Ady Floyd
Shopping Habits
Download the Shopping Habits Trend Report
In this module, rooted in Trend Hunter's Megatrend Artificial Intelligence, Ady explores the larger technological retail trends that are shaping this space. While technology can be vast and complicated to implement, there are three core pillars that work in curating an authentic omnichannel experience. As such, this section focuses on voice-activated shopping, cryptocurrency, and blockchain. Many consumers use these platforms daily, but it's more challenging for brands to seamlessly integrate them into the shopping journey.

This module will look at specific technological retail trends that are currently being embraced by brands and consumers alike. These trends are applicable to all retailers from large corporations to smaller start-up companies. With consumers today being more connected than ever, technology is simply an essential part of the omnichannel shopping journey.
Related Trend Report: Shopping Habits
Workshop Questions:
1. How do you plan to use AI to disrupt your industry?
2. How can you ensure your company isn't displaced by new technologies?
Jeremy Gutsche Keynote Speaker
Featured Insights
Traceable Transparency
Emerging blockchain platforms offer increased transparency for consumers
Implications - Platforms that allow consumers to trace their goods through to the path of purchase shine a light on one of the most anticipated uses of blockchain technology. From concert tickets to poultry supply chains, these platforms help to increase transparency at various stages of the transaction in question. By using blockchain to allow consumers to see more of how products reach their hands, brands are able to establish a more authentic connection with their consumers, thus adding brand equity.
Workshop Question - Where in your business might you add an increased level of transparency to help develop a more authentic connection with your consumer?
6.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Voice-Activated Retail
Retailers leverage voice assistive technology in the purchase journey
Implications - Brands are taking inspiration from Amazon’s Alexa by offering their own platforms and voice activated technologies that allow consumers to shop by speaking to their phones, or home control devices. From a consumer perspective, this distinct purchase journey offers an amalgamation of the personalization offered in in-person shopping experiences, coupled with the convenience of shopping online.
Workshop Question - How can your brand take inspiration from brands in its space that may be changing the game?
4.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Cashless Retail
Retail stores go entirely cashless in order to streamline processes
Implications - With more consumers opting to pay for things digitally rather than with cash, retailers are removing the option of cash transactions entirely – with Amazon going so far as to remove in-person payments altogether. This shift speaks to the adaptation, and enhancement, of already-established consumer purchase habits, while creating a shopping experience that prioritizes convenience.
Workshop Question - How can your brand better incorporate consumer purchase habits into its products/services?
5.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Insights by Trend Hunter AI
App-Powered Store
Brands in China are partnering with WeChat for experiential in-store experiences
Trend - The use of WeChat to create in-store shopping experiences that feature digital experiences and enhancements is on the rise in China. These partnerships allow for more seamless interactions considering the prevalance of the WeChat app--allowing customers to engage in-store without having to download any additional apps.
Workshop Question - How is your brand catering to the digital habits of younger demographics?
7.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
One-to-One Retail
Stores serve one customer at a time to give safe, ultra-custom experiences
Trend - The retail industry has seen a lot of transformation in light of the pandemic. One recent development is the growth of storefronts or services dedicated to limiting the shopping experience to two people: the retail worker and the customer. This is being executed virtually as well as in person and has the benefits of both safety and full personalization.
Workshop Question - How will you satisfy the opposing consumer need for experience and safety in the new normal?
6.2
Score
Popularity
Activity
Freshness
Patterns
Megatrends
3d Shopping
3d virtual shopping platforms aim to elevate the purchase journey
Trend - 3d visuals on e-commerce platforms are increasingly popular as consumers seek out more immersive forms of virtual retail. These aesthetics have the benefit of showing customers the products in a more realistic and all-encompassing way.
Workshop Question - How is your brand enhancing its virtual shopping experience for customers?
6.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Live E-Commerce
Live shopping experiences allow consumers to view as their items are selected
Trend - Live shopping apps and platforms offer a new way for consumers to engage with the e-commerce industry, allowing them to view their purchases as they're being made as an added form of interactivity.
Workshop Question - How could your brand enhance its e-commerce experience for customers?
6.8
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Retail Chatbots
AI chatbots in the retail space enhance customer service
Trend - Innovative technology in retail is increasingly popular as brands in this space compete with ecommerce, and chatbots are one piece of smart technology that these brands are integrating. These tools help personalize the customer experience, and help shoppers make purchase decisions faster.
Workshop Question - How is your brand creating convenient purchase journeys for its customers?
5.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Assisted Stylist
Virtual personal stylists in both design and fashion are on the rise
Trend - Modern technology, like assistive devices and smartphone apps, are aiding in the process of personal styling—whether that’s related to fashion or interior design. By empowering consumers through specialized technology, brands are able to make a once-exclusive industry more accessible to all.
Workshop Question - How is your brand using technology to prioritize accessibility for its customers?
4.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Simplified Shopping Lists
Smart, predictive technology aids consumers with shopping list-makers
Trend - As more consumers turn to their phones to store their shopping lists, brands take this a step further with organization apps and predictive list-makers. New platforms that leverage AI, smart technology and voice-assistive tools make it easier than ever for consumers to keep track of what they need when they're shopping—it can even help navigate physical stores.
Workshop Question - How can you leverage smart brick-and-mortar technology to ease consumers' path to purchase?
4.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Mixed-Reality Shopping
Mixed-reality in-store experiences enhance engagement
Trend - With experimental shopping spaces increasingly common, some brands in the retail space are prioritizing mixed-reality experiences for their consumers. This new conception of how purchase journeys can be designed shows how brands can enhance engagement, particularly Millennials and Gen Z.
Workshop Question - How could your brand incorporate mixed-reality into its customers' purchase journey?
5.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends