How Retail Biggies are Using Artificial Intelligence to Enhance Customer Experiences in 2024

The retail landscape in India is rapidly evolving, with big players investing heavily in Artificial Intelligence (AI) to enhance customer experiences. From improving product recommendations to personalised fit suggestions and efficient delivery, AI is revolutionizing the way retailers interact with their customers.

One such example is Myntra, a fashion e-commerce platform with a vast catalogue of 2.3 million styles from 6000+ brands. To help customers navigate through this vast inventory and stay on top of fashion trends, Myntra uses AI-powered tools like My Stylist, MyFashionGPT, and Maya. These tools enable users to search for outfits using natural language, discover complete looks, and receive real-time recommendations, making the shopping experience more engaging and meaningful.

Amazon is another retail giant leveraging AI to enhance customer experiences. The company uses AI to help customers find the perfect fit while shopping online, offering personalised size recommendations, fit review highlights, and AI-backed fit insight tools. Additionally, Amazon uses AI in its digital pharmacy business to improve prescription processing speed, pricing, customer support, and delivery.

Peesafe, a Gurugram-based personal hygiene brand, uses AI for personalisation, targeted marketing campaigns, and 24/7 customer support through chatbots. The company also employs AI in-store with smart shelves, personalised digital signage, and AI-powered self-checkout kiosks to enhance the overall shopping experience for customers.

Shoppers Stop, a department store chain, is experimenting with Conversational AI and the metaverse to engage customers in novel ways. The company aims to provide personalised product recommendations, interactive engagements, and real-time assistance through AI-powered tools.

Indiamart, a B2B marketplace, uses AI to facilitate conversations between buyers and suppliers, ensuring seamless connections and intelligent matchmaking. AI is also leveraged in multilingual search results and intelligent cataloguing for easy product image editing.

Overall, retailers are experiencing numerous benefits from incorporating AI into their strategies, including increased customer satisfaction, loyalty, personalised experiences, quicker issue resolution, higher conversion rates, reduced operating costs, and competitive advantage. With AI-driven insights, retailers can develop personalized marketing strategies, enhance customer loyalty, and improve overall satisfaction.

As AI continues to shape the retail landscape in India, it’s clear that the future of customer experiences will be driven by technology, offering more personalised and efficient interactions for shoppers. Retailers who embrace AI will undoubtedly stay ahead of the curve and deliver delightful experiences to their customers.