AI, retail and CX – discussions at the CX EVENT

0
banner lisbon event customer experience retail

Lisbon CX event is coming soon.

2 weeks left to 5th-6th November 2024 and I am still preparing my memo:

another important topic to explore and discuss with the attendees is how AI is significantly transforming retail customer experience (CX) and in which key ways.

We have high expectations on AI as a tool (accelerator and facilitator) and we are questioning its impact on business results and CX. Some notes for myself:

Personalization – AI enables retailers to provide highly personalized experiences:

  • Analyzing customer data to understand preferences and shopping patterns
  • Delivering targeted promotions and product recommendations
  • Offering tailored discounts and special offers / creating personalized marketing campaigns

(> This level of personalization can increase customer satisfaction, drive sales, and boost loyalty).

Enhanced Customer Service – AI is revolutionizing customer service in retail:

  • Chatbots and virtual assistants 24/7 support – answering queries and processing transactions
  • AI-powered systems can handle large volumes of customer interactions (simultaneously)
  • Natural language processing allows for more human-like conversations
  • Predictive analytics help anticipate customer needs and provide proactive assistance

Improved In-Store Experiences – AI is enhancing the physical retail environment:

  • “Scan and Go” mobile payment systems reduce checkout times
  • Digital mirrors powered by AI allow customers to virtually try on clothes
  • AI-driven inventory management ensures products are in stock
  • Robots like Tally at BJ’s Wholesale Club assist with inventory tracking

Efficient Operations – AI optimizes retail operations, indirectly benefiting CX:

  • Demand forecasting helps maintain optimal inventory levels
  • Dynamic pricing adjusts based on demand and competition
  • Automated inventory management reduces out-of-stock situations
  • Streamlined supply chains ensure faster product availability

Data-Driven Insights – AI analyzes vast amounts of customer data to:

  • Identify trends and patterns in customer behavior
  • Predict future consumer trends
  • Optimize product assortments and store layouts
  • Improve decision-making across the retail organization

By leveraging these AI capabilities, retailers can create more frictionless/seamless, efficient, and personalized customer experiences across both online and offline channels: this improves customer satisfaction and drives business growth and competitive advantage in the rapidly evolving retail landscape.

Let’s see the opinion and insights of all other attendees!

About the author

Giovanna is an accomplished business leader with over 20 years of global expertise in international multichannel retail, technology, and digital innovation, with a deep specialization in Fashion & Luxury and FMCG. Her career is defined by leading transformational change, driving performance, and optimizing operations within renowned multinational companies, all while steering diverse, cross-functional teams toward excellence. Her passion for both business and people fuels her belief that customer experience and brand DNA are the essence of success. Her secret to thriving in the corporate world? A relentless focus on the most valuable asset: people. Giovanna’s academic foundation in Political Sciences and Government from the University of Padova, in the historic Venice region, enriched her with a profound understanding of law, economics, philosophy, and languages. This broad education sharpened her intellect and critical thinking, shaping her into a leader with an open mind and an international outlook. Multilingual and multicultural, Giovanna speaks English, French, and Italian fluently for her professional life, Spanish with friends, and Venetian at home. Her life journey, having lived in Italy, France, and Malta, has fostered an adaptable communication style and a situational leadership approach honed through real-world experience, a commitment to continuous improvement, and a “test & learn” mindset. Her rise from a sales assistant during her university days to global leadership roles is a testament to her curiosity and unwavering drive for growth. Step by step, she has built a career founded on transformative results, creating high-performing teams and harnessing the power of multinational resources. Beyond the boardroom, Giovanna finds balance through trekking, jogging, and yoga, which she enjoys with her family and friends. Her solo pursuits of reading, chanting, and meditation nourish her spirit. A lover of red roses, dark chocolate, and fine wine—especially from Italy and France—she delights in travel, culinary arts, and exploring local cultures and traditions.

Commenti recenti

    Categorie