DATA, AI, AND OMNICHANNEL EXPERIENCES ARE REDEFINING RETAILER RETENTION

Leveraging the combined prowess of Data, AI, and Omnichannel Experiences can help retailers strengthen their brand image and retain customers by delivering superior value.

- ARSH KABIR SINGH GUJRAL

The revolutionary potential of data and AI is very much apparent today. The tech is heralding sweeping changes in businesses across industry verticals. Especially their coming together with Omnichannel experiences is playing a crucial role in building loyalty for retailers. These approaches are becoming a strategic necessity for retailers in the current business scenario. Today the global retail environment is grappling with fluctuating consumers' tastes and dwindling loyalties. As a result, retailers are jostling with a high customer turnover ratio and reduced profitability.

How Data, AI, and Omnichannel Experiences can rescue retailers in such a complex environment, here are complete details:

a) Customised Recommendations: Brands can significantly improve retailer retention by offering customised recommendations based on shoppers' purchase history. As retailers play a crucial role in enhancing brand visibility and even impact consumers' decision-making, these insights will benefit in maximising their sales and profitability. Brands can also design customised loyalty programs for retailers and automate rewards as per the specific preferences of retailers.