How AI, AR & VR impact retail this year (apocalypse not included)
Way back in 2017, retail industry analysts predicted a retail apocalypse due to the number of brick-and-mortar retailers that closed their doors. So far, however, the four horsemen of 2018 have not yet been summoned.
Quite the contrary, in fact. Today, more businesses than ever are leveraging artificial intelligence, augmented reality , and virtual reality in retail to find new ways to attract and engage customers.
Here are just a few ways retailers use mobile and emerging technologies to commingle brick-n-mortar and digital experiences.
Consider the explosive growth of interactive voice technologies like Alexa, Google Home and Siri. A recent “Future of Retail” study by Walker Sands states 20 percent of U.S. consumers made a voice purchase through Amazon Echo or other digital home assistant in 2017, while one in three plan to do so in 2018. Furthermore, according to Gartner, a whopping 85 percent of retail customer interaction will be managed by AI by 2020.