Making Retail POS Smarter: Power of AI
What is more critical–price or experience?
With talks about inflation, there are also discussions around experiences. And thus, according to the research study by Gartner, 64 percent of customers value shopping experience more than prices. And 50 percent of respondents wouldn’t buy back from the brand they faced a bad experience with.
The Journey so Far
In the fiercely competitive retail market, delivering a consistent and seamless experience throughout the customer journey is a massive advantage. With businesses struggling to keep customers engaged and delighted, technological breakthroughs like Artificial Intelligence (AI) have changed the face of the retail industry.
Perhaps we can say that no industry is as disrupted as retail by advancing technologies and digital transformation. This resulted in a major transition in the past couple of years with customer experience becoming the paramount crucial brand differentiator.
POS Solutions Transforming Retail Operations
With AI-enabled monumental changes–from numerous applications and data visualization to the use of machine learning for efficient inventory management, the retail industry has come a long way. And with the growing significance of enhancing customer experience, many retailers face a pressing need of improving the overall in-house experience. As a result, they are incorporating AI in their POS system which helps them collect and analyze massive amounts of data while gaining valuable insights. Using AI to integrate automation can allow POS to process data from various sources in real time.
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We are listing down additional features that will benefit retailers:
What does the future say about Retail and AI?
There is no denying that AI has a lot to offer the retail industry. Due to its capacity to gather, evaluate, and give relevant information and figures; it will increase in-store engagement, improve operations, and have a favorable effect on the bottom line. AI can advance things, particularly in the POS arena and it can help businesses grow organically and generate revenue sustainably.
As a result, several developers and providers of POS solutions are planning to invest in AI to improve their present POS solutions. Thanks to the modern POS system helps evaluate the efffectiveness of your screen revenue and make the right decisions.
And that is the power of AI when combined with retail POS, it is making businesses smarter than ever before!
B2B SaaS Marketing Leader | Building Messaging That Sells & Marketing That Drives Revenue | GTM, Positioning, Demand Gen
2 年The retail experience is undoubtedly critical here. AI could also be used to monitor the dwell time of promotions or directional signage to identify when shoppers are stuck, lost, or particularly interested. But there's a gap. All of this can only be used to improve the retail experience if marketers have the tools to act upon it too. For example, personalisation and localisation can be critical to fostering delightful customer experiences, but implementing them is much harder when displaying information in print.