Retailers are using AI to add unique features to their mobile retail apps
Trend - Retailers are launching mobile apps with AI-powered features designed to replace their existing apps. These apps offer recommendations, conversational support, image search, and features unique to certain retailers. These brands aim to improve customer retention while reducing ordering friction.
Insight - Partially onset by the pandemic, many consumers are now accustomed to shopping for nearly every type of product on a website or mobile app. However, the ease of these apps makes many consumers purchase products that are not optimal, leading to high return rates. To maintain the low-friction ordering system of mobile apps while aiming to reduce return rates, many retailers looking to AI to improve services. Brands that implement these AI updates can improve customer satisfaction and retention.
Insight - Partially onset by the pandemic, many consumers are now accustomed to shopping for nearly every type of product on a website or mobile app. However, the ease of these apps makes many consumers purchase products that are not optimal, leading to high return rates. To maintain the low-friction ordering system of mobile apps while aiming to reduce return rates, many retailers looking to AI to improve services. Brands that implement these AI updates can improve customer satisfaction and retention.
Workshop Question - How could your brand improve its customer satisfaction rates through AI features?
Trend Themes
1. Mobile AI-powered Retail Apps - Retailers are launching mobile apps with AI-powered features designed to improve customer retention and reduce ordering friction.
2. AI Shopping Tools - Retailers are leveraging AI-powered image search tools to help shoppers find the best deals and save time and money.
3. AI-enhanced Grocery Apps - Online grocery platforms are using AI to provide more convenience, personalization, and efficiency for customers, improving the overall shopping experience.
Industry Implications
1. Retail - Retailers can implement AI-powered features in their mobile apps to improve customer satisfaction and retention.
2. E-commerce - E-commerce platforms can leverage AI shopping tools, such as image search, to enhance the customer experience and increase conversion rates.
3. Grocery & Food Delivery - Online grocery platforms can integrate AI enhancements into their apps to provide customers with more convenience, personalization, and efficiency.
