Olga Dogadkina is the co-founder and CEO of Emperia. Read Olga Dogadkina's full executive profile here.
In the dynamic realm of retail in which change is the only constant, the influence of artificial intelligence stands as a formidable force poised for remarkable growth. As AI technology continues to advance, its effect on the retail industry is deepening, opening the door for a new era of shopping experiences that's changing the retail landscape.
Yet, the benefits of personalization go far beyond just offering shopping recommendations. It can equip brands with the capability to fine-tune their inventory management, minimizing excess stock and contributing to waste reduction and enhanced sustainability goals, an important cause for. In this era of data-driven insights, personalization serves as the gateway to a multitude of opportunities, nurturing stronger bonds between retailers and their consumers.
Gathering deep levels of consumer behavior also allows brands to optimize user satisfaction, minimizing cart abandonment, which becomes especially crucial in light of statistics indicating a high average. For consumers, this means an entirely new level of engagement when it comes to online shopping. It's no longer about scrolling through endless product listings—it's about a shopping journey tailored precisely to their tastes and needs.
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