Getting Personal: How AI-powered personalization is helping retail bands stand out from the crowd

  • “With one in every five pounds spent with UK retailers now being spent online, experiences and brand are oftentimes the only way brands can differentiate away from the supply chain behemoth that is Amazon.
  • However, our research has shown that 63% of shoppers currently only shop with two to five different brands.
  • Personalisation isn’t just about inserting a name in an email or simple product recommendations. The latest AI and ML models are now being used to increase the relevancy of online personalisation to an audience of one.
  • Qubit has built numerous models, that when used in combination (model-stacking, so-to-speak), can build customer loyalty. These include the propensity to purchase, lifetime value predictions, category preferences, demand prediction, product recommendations and more.”

https://www.gigabitmagazine.com/ai/getting-personal-how-ai-powered-personalization-helping-retail-bands-stand-out-crowd

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