Retail has become a global phenomenon. While it can bring a lot of advantages for everyone involved, from retailers to customers, the bigger its dimensions get, the tougher it is for it to be controlled and adjusted. Especially for those who are managing big shopping centers, such as malls. Marketing is an essential part for retail and it can make a huge difference even in the case of small shops. But let’s think about big shopping centers that are not only filled with products and services that need to be sold, but also with a lot of customers that need to be understood and satisfied properly. The bigger the public, the tougher the mission, but the good news is that A.I. solutions are becoming more and more helpful to the marketing managers of shopping centers.
To understand how these solutions can help retail, it is necessary to see what they are, how they work, and which areas can be improved by using them. So, here is what A.I. solutions are and how AI can help retail.
How can A.I. solutions help retail?
Artificial Intelligence, commonly known as A.I., can be defined as the tool of the future for shopping centers and retailers worldwide. And, luckily, the future is here. What A.I. solutions do for such shopping centers is using the existing CCTV infrastructure in order to analyze consumer behavior and create statistics about products. The first part is essential from a marketing viewpoint, as it can help marketing managers understand how to organize stores and products better and how to adjust them in order to make everything more appealing for the consumer.
It is very important to know that good A.I. solutions are GDPR compliant and do not put anyone’s privacy at risk. As per the statistics that can be created via A.I. solutions, these come in very handy when stocks have to be kept under control. Here are two of the most important areas where the managers of large shopping centers can be helped by A.I.
Better control of queue lengths
As a customer, having to face long queue lengths anywhere is not a pleasant experience. This holders true also for the long lines that customers face when checking out their shopping at retail stores. Not just is the customer experience reduced, but also the retail store lowers its per hour revenue generation. A.I. solutions can help retail stores manage queue lengths at checkout counters in real-time by alerting decision makers on the ground when queue loads exceed the desired limit, allowing managers to open new checkout counters when needed. Not only does it significantly reduce wait times for customers but also has a direct measurable impact on increased revenues for the retail store.
A better understanding of customer behavior
By leveraging existing CCTV infrastructure, A.I. can help retailers have detailed profiles of the customers entering the shopping centers. Everything is GDPR compliant, as the A.I. does not capture any personal or personally identifiable data. Also, by using heatmaps, the A.I. helps marketing managers understand which store areas are the most attractive for the customers and how the other areas can be improved.
Visual A.I. solutions are making things possible that were, so far, not humanly and/or economically possible. Solutions like those offered by AiVA help increase efficiency and improve performance indicators for both the customers and the retailers.