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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?
View Innovation Webinars
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?
5.1
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?
5.3
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?
5.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Insights by Trend Hunter AI
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?
5.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Smart Skincare
Skincare and cosmetic retail spaces adopt AI functionalities
Trend - Brands within the cosmetic and skincare space are adopting artificially intelligent capabilities into their retail spaces in order to better personalize the experience of their customers. This shift speaks to the increasingly deliberate and customized nature of self-care.
Workshop Question - How could your brand adopt smart capabilities into its retail space?
7.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
In-Aisle Payment
Retailers build systems to support convenience-oriented checkout
Trend - In recent years cashier-less convenience stores have grown in popularity, and while not all retailers are able to adapt to such developments, some retailers are leveraging components of a similar technology to offer consumers in-aisle checkout. Such payment options enable retailers to provide a more tailored shopping experience for convenience-minded consumers.
Workshop Question - Consider how your brand could leverage technology being used in adjacent spaces to better cater to your consumers.
5.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Culinary Blockchain
Blockchain technology is incorporated into the culinary industry
Trend - Whether giving consumers product information or empowering ecological initiatives, Blockchain technology is on the rise in the food industry. Such use of this technology reveals its potential outside of transactions alone, and into unlikely spaces that require transparency and enhancement.
Workshop Question - How could your brand better adhere to the demand for more transparency from consumers?
6.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Shoppable VR
Brands incorporate shoppable VR campaigns into their marketing tactics
Trend - Combining the in-person purchase journey with the comfort of ordering from home, retailers are incorporating shoppable VR ads and videos into their campaigns. For the most part, these unique campaigns are testing the functionality and potential of purchasing via virtual reality.
Workshop Question - Conceptualize a shoppable VR platform that your customers could use in their homes.
5.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Appified Purchase
Brands incorporate personal apps into the brick-and-mortar shopping journey
Implications - The incorporation of customized branded apps into the consumer’s in-person shopping journey is on the rise, with brands curating or elevating the brick-and-mortar experience by providing more information on the products in question, and by generally easing the shopping experience. This shift comes as consumers increasingly prioritize researching the products and services they’re looking to purchase.
Workshop Question - Conceptualize an omnichannel shopping experience for your product/service.
6.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Smart Retail
Stores that fully integrate smart features are increasingly common
Implications - Brands have been incorporating smart elements into their retail spaces, or toying with the idea, for some time now, but some are taking it to the next level with stores that fully integrate smart functions, much like many homes now do. The full integration of smart features into brick-and-mortar spaces speaks to the rising value that consumers place on both omnichannel and highly personalized purchase journeys.
Workshop Question - Conceptualize a retail space for your products/services that would incorporate smart features.
7.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Curated E-Commerce
Retailers are offering consumers suggestions by using both humans and tech
Implications - With e-commerce and brick-and-mortar competing for consumer’s attention, retailers in the digital space are incorporating personalized recommendations to guide the consumer’s shopping experience. Curated product options, either from employees or algorithms, enable brands to bring the guided and personalized nature of in-store shopping to the digital shopping space. The degree of personalization with the recommendations highlights how brands are striving to connect with individual consumers, ensuring that the consumer feels like they aren't seeing the same recommendations as everyone else.
Workshop Question - How can your brand utilize both technology and human interaction to better support your customer?
4.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends