Artificial Intelligence is the most promising tech landscape for retail industry

Investments in AI by retail segment will exceed USD 8 billion by 2024 – Global Market Insights.
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How AI will transform the retail experience for the shoppers

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Of shoppers prefer to shop at stores that offer augmented reality (AR), over one that doesn’t
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Of shoppers want to use Augmented Reality (AR) to see product differences such as change in color or style
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of shoppers will have smaller to complex queries that ChatBot can answer without any human intervention

Retail Industry is going to have a great infusion of AI based solutions in day to day operations, find out how…

24/7 Customer Support through ChatBot

AI powered ChatBot are enabling retail brands to engage customers efficiently. With the help of ChatBots, brand can handle thousands of queries simultaneously, without having to employ the large workforce. CoRover powered ChatBot can be configured to answer questions, provide shopping suggestions

and provide prompt support. When customers get prompt and personalized attention, they will engage deeply with the brand, paving way for enhanced customer loyalty.
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Any retail organization depends heavily on the demand forecasting and accordingly they stock the products. A leftover stock is often marked down and leads to low sales turnover and impacts retailer’s profitability. CoRover based AI prediction can help retailers replenish supplies by identifying

demand for a particular product based on sales history, location, weather, promotions, trends and so on. This way the retailers can prevent under-performing products from pilling up and in turn helps to drive the sales based on anticipated demand.
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Drive Sales and anticipate demand

Understanding Consumer Behavior

CoRover’s AI & machine learning model helps to understand consumer behavior based on their shopping history and allowing retailers to reach out to consumers with an individual approach. Its Intelligent analyzes customer’s psychology and emotions to encourage purchase. Using behavioral data,

brands can come up with individualized recommendations, lifting revenue and increasing the efficiency of marketing spending. The 3 simple steps that CoRover follows are Analyze Shopper’s behavior, next optimize the approach to consumer and finally anticipate consumer demand to improve sales.
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27% of people across the globe are using voice search on mobiles and 34% of internet users want to buy a voice-controlled smart assistant for the convenience to use, ability to do hands-free. Voice assistants such as Amazon Alexa, Google Home, Apple Siri, and Microsoft Cortana are giving consumers

a chance to interact with the retailers without the interaction with the agents. These devices can be used at home or at stores to provide conversational interaction for a great shopping experience. CoRover AI Platform supports the seamless integrations with these platforms and helps in adoption of voice assistants. CoRover ChatBot supports more than 50 Foreign and Indian Vernacular languages which makes it a true qualifier to be most smart accessible voice assistant.
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Adoption of voice assistants

Augmented Reality based Intelligence

Nowadays shoppers want to use augmented reality see product differences such as change in color or style that helps them to take a better decision. Retailers, who offer augmented reality, shoppers can change the color of furniture, or other products they’re looking to buy to see how it looks in their

home first. They will be more certain and satisfied with the shopping experience if they are certain about the product as no one wants to go for the hassle of return and multiple visits.
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CoRover powered Retail Analytics helps you to see how your organization will see the benefits of AI once implemented. With AI-powered analytics, retailers can finally achieve a better understanding of their customer’s needs and make informed decisions for demand and supply, maintaining a

healthy sales cycle and drive towards making a positive impact on customer satisfaction. AI only if implemented will not solve the purpose but the impact it is creating on their ROI will.
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Retail Analytics through measurable ROI

Missing AI at your stores? If you want to equip your retail business with the latest AI to upscale your business, let us connect!