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eLearning > Retail > Rewriting the Rules of Retail > Module 4 / 4

Consumer Centric Retail Through Artificial Intelligence

Instructor: Ady Floyd
Payment Innovation
Download the Payment Innovation Trend Report
Today's shopper is looking for convenience, ease, and simplicity, meaning that brands need to take advantage of technological tools to help them create smart retail solutions. Smart retail is all about focusing on leveraging big data, AI interactions and platforms like voice and visual search.

Consumers are now much more willing to provide personal data to retailers, as long as it's mutually beneficial. Throughout this module, Ady will look at how brands can use AI and other technologies to improve the shopping experience online and offline.
Related Trend Report: Payment Innovation
Workshop Questions:
1. What is one way your brand could use smart technology to elevate your customer’s experience?
2. How might you collect more customer data to create a more compelling product/service offering?
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Featured Insights
Picture Purchase
Brands are using AI to help consumers shop through pictures
Trend - Using AI and machine learning, consumers can now snap images of products and make instant purchases. Moving beyond voice-activated shopping platforms, brands continue to innovate the retail space with visual shopping applications.
Workshop Question - How can your brand make its retail experience more convenient for consumers?
4.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Frivolous Recognition
Facial recognition technologies enhance retail and viewing experiences
Trend - As new interpretations of surveillance develop, the potential of facial recognition technology is unpacked with the tech’s adoption in a range of services and experiences across different industries. From retail to art, brands seek to facilitate customizable and enhanced consumer engagement through a new mode of usage.
Workshop Question - How could your brand use facial recognition tech in its retail experience?
5.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Insights by Trend Hunter AI
Humanized Assistant
Virtual home and retail assistants are humanized to better resonate with users
Trend - Brands are humanizing virtual assistants in an effort to help these AI-driven technologies better connect with the people who use them. These humanizing features offer a sense of trust and comfort, particularly among age groups that may not be as accustomed to the adoption of assistive tech in the home or in retail.
Workshop Question - How is your brand establishing trust between itself and its customer?
7.9
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
Experiential Addition
Retail brands make the store a destination post-Pandemic
Trend - Still betting on the experience economy, brands are launching retail initiatives that are seemingly unrelated to their products or services. These are solely designed to provide such a high level of surprise and delight to override concern for visiting public spaces. These activations are created with COVID-19 safety and hygiene guidelines in mind, yet also draw over-the-top inspiration from adjacent industries.
Workshop Question - Conceptualize an experience that will fit into the COVID-19 climate.
8.1
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
Post-Crisis Retail
Brick and mortar spaces will likely undergo long term changes post-COVID
Trend - After the restrictions on public movement due to COVID-19 have eased or lifted around the world, retail spaces will still require additional safety measures in order to keep infection risks at a minimum. This will occur (and is already occurring) in the form of contactless payment systems, limiting customers in-store, and redesigned layouts that enforce physical distance between customers.
Workshop Question - How is your brand preparing for a post-COVID world?
7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Morning AI
Brands introduce products with artificial intelligence to the morning routine
Trend - Brands optimize the morning routine for individuals through tech-forward products that take advantage of artificial intelligence. These can be anything from a smart mirror to a toothbrush. Each is geared toward introducing thoroughness and efficiency to morning rituals, assuring that users start their day right.
Workshop Question - In what ways can AI help optimize the customer experience of your product/service?
6.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Digitized Diagnosis
Artificial intelligence is being used to detect health problems sooner
Trend - The incorporation of AI into medical devices is helping to expedite the detection of medical issues, which enables medical professionals to make a more informed diagnosis and treatment plan. The integration of such innovations highlights how technology is being leveraged to improve the quality of a consumer’s life.
Workshop Question - Consider how your brand could leverage developments in AI to improve the experience of your customers.
4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Retail Targeting
Brands create niche platforms catering to specific consumers
Trend - In order to better engage with online consumers, brands are creating hyper-specific filtration tools that ensure consumers feel supported and find what they need. These platform rage from vegan filtration tools to AI visual search tools.
Workshop Question - How can you leverage technology to connect with your consumers that still feels very personalized and nurturing?
4.2
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