The Top 10 Technology Trends In Retail: How Tech Will Transform Shopping In 2020

“Here are 10 of the top tech trends that will transform shopping.

Extended Reality

Predictive Analytics (Big Data) 

Micro Moments

Recommendation Engines

Order Fulfilment Automation

Face Recognition

Stock Management

Robotic Store Assistants

Customer Chat Bots

Internet of Things (IoT) and Smart Equipment”

AI Stats News: 62% Of US Consumers Like Using Chatbots To Interact With Businesses

    • “Consumers in Australia, the UK, and France report the highest levels of chatbot usage, with more than 70% of respondents having used one to interact with a brand in the past year
    • 80% used them for customer care
    • more than 70% of people 18-34 years old wanting the option to message with businesses;
    • Manpower found that its collections increased 12% [Fortune]
    • The first eight IT teams at Fannie Mae to receive Moogsoft’s AIOps tool have seen a 35% reduction in IT incidents
    • On average, data volumes are growing at a rate of 63% a month;
    • The market for data-labelling services may triple to $5 billion by 2023, according to Redpoint Ventures [The Economist]
    • By 2023, the number of people with disabilities employed will triple due to AI and emerging technologies, reducing barriers to access
    • 2022, 30% of organizations will have invested in explainable AI—technology that can explain how AI algorithms come to their conclusions [Gartner]”

    Three E-Commerce Hacks To Stay At The Top Of The Game

    • “If you’ve been sitting on the fence, waiting to see how the AI trend played out, now is the time to step off
    • At least 5% of digital commerce orders will be predicted and initiated by AI by 2022
    • Talking about conversational commerce: customers increasingly want to navigate their online shopping experience through dialogue
    • And although AI is maturing quickly, it’s still an area of differentiation for SME e-commerce businesses as long as you move fast.”

    4 Signs E-commerce Brands Will Leverage AI and Bots in 2019

    “Indeed, recent data shows that despite brands receiving up to 393 percent more customer service requests during the holiday season, they were able to decrease time to resolution by 15 percent through using automation technologies such as bots.

    1. Chatbots are being integrated into product discovery, purchase and customer service

    2. AI can provide offers and pricing in real time

    3. AI lets you predict buyer behavior based on the weather

    4. AI and automation for customer service helped brands lower resolution time during the holiday season”

    Coca-Cola Is Embracing AI and Chatbots in Preparation for a Digital-First Future – By Marty Swant

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    “I hear you’ve been testing AI-powered vending machines.
    • We’ve also looked at some forms of AI in terms of optimizing how our vending machines are placed and where they’re placed to ensure we’re meeting consumer demand based off of patterns and things of that nature. I would say it’s been a lot of trial. The Coke On app has been incredibly successful; it’s approaching 6 million downloads. People are using it with great frequency.

    You’ve also been experimenting with chatbots. How are they doing?

    • It’s very much still in its infancy. What we were trying to explore was [how to] effectively use chatbots in serving scenarios. We know that consumers find there is great convenience in being able to find quick answers or to address thoughts that they have. So we’ve tested a little bit in that space (such as using chatbots in the vending machines), but haven’t gone as far as creating highly brand-centric chatbots. We think there’s a lot still to play out there. Frankly, we’re already focused on the voice element.”

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