Shopping is getting more convenient for the customers, while retailers are now being able to offer more personalized offerings. All this is getting possible, thanks to the judicious use of Artificial Intelligence (AI). This is also enabling retailers to finally programme their entire fleet with a customer- centric approach. One such offering is Personality Insights, developed by IBM’s Watson. Due to the enormous data warehousing taking place, retailers are now able to identify which customers to target for what kind of products. Advertising spend can now be better targeted to the right segments. AI also allows retailers to provide recommendations, based on the individual profile mapped out. Buyer personas are created in this manner. Global cosmetics giant Sephora has aced this value chain. Its chat bot interacts with people, using AI, to propose solutions to the customers’ needs.

Source:https://sloanreview.mit.edu/article/customer-centricity-in-the-digital-age/

Uploaded Date:24 June 2019