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FuturistU > Retail > Rewriting the Rules of Retail > Module 4 / 4

Consumer Centric Retail Through Artificial Intelligence

Instructor: Ady Floyd
Payment Innovation
Download the Payment Innovation Trend Report
Today's shopper is looking for convenience, ease, and simplicity, meaning that brands need to take advantage of technological tools to help them create smart retail solutions. Smart retail is all about focusing on leveraging big data, AI interactions and platforms like voice and visual search.

Consumers are now much more willing to provide personal data to retailers, as long as it's mutually beneficial. Throughout this module, Ady will look at how brands can use AI and other technologies to improve the shopping experience online and offline.
Related Trend Report: Payment Innovation
Workshop Questions:
1. What is one way your brand could use smart technology to elevate your customer’s experience?
2. How might you collect more customer data to create a more compelling product/service offering?
View Innovation Webinars

Featured Insights

Picture Purchase
Brands are using AI to help consumers shop through pictures
Trend - Using AI and machine learning, consumers can now snap images of products and make instant purchases. Moving beyond voice-activated shopping platforms, brands continue to innovate the retail space with visual shopping applications.
Workshop Question - How can your brand make its retail experience more convenient for consumers?
4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Frivolous Recognition
Facial recognition technologies enhance retail and viewing experiences
Trend - As new interpretations of surveillance develop, the potential of facial recognition technology is unpacked with the tech’s adoption in a range of services and experiences across different industries. From retail to art, brands seek to facilitate customizable and enhanced consumer engagement through a new mode of usage.
Workshop Question - How could your brand use facial recognition tech in its retail experience?
5.2
Score
Popularity
Activity
Freshness
Patterns
Megatrends

Insights by Trend Hunter AI

Autonomous Hub
Unstaffed retailers are popping up in densely populated areas
Trend - Retail hubs like hotels, offices and malls are increasingly featuring unstaffed stores in order to speed up consumers' shopping times. These stores allow for smart detection and automatic charges for products that consumers purchase.
Workshop Question - How could your brand better prioritize convenience within its purchase journey?
8.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Reflective Display
Connected mirrors help retailers personalize the shopping journey
Trend - As brick and mortar stores compete with ecommerce, businesses are taking cues from the virtual world with tech-enhanced shopping experiences. This now includes connected mirrors being displayed in-store that allow customers to personalize their shopping journey.
Workshop Question - How could your brand better prioritize customer experience with technology?
8.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Virtual Changing
Virtual fitting rooms are growing in popularity amidst the pandemic
Trend - Virtual fitting rooms are becoming an increasingly popular alternative to in-person fitting rooms, particularly as the ongoing pandemic has put restrictions on in-person shopping. Now, consumers are able to see how clothing may look on them without having to worry about hygiene or being inconvenienced.
Workshop Question - What long-term pandemic-related changes could your brand better adapt to?
7.2
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Humanized Assistant
Virtual home and retail assistants are humanized to better resonate with users
Trend - Brands are humanizing virtual assistants in an effort to help these AI-driven technologies better connect with the people who use them. These humanizing features offer a sense of trust and comfort, particularly among age groups that may not be as accustomed to the adoption of assistive tech in the home or in retail.
Workshop Question - How is your brand establishing trust between itself and its customer?
5.8
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Shoppable Room
Brands are utilizing virtual home experiences as a medium for retail
Trend - Companies are launching virtual home shopping experiences to market products during the COVID-19 era. These gamified platforms are engaging with playful interactivity and comfort aesthetics that entertain consumers and also allow for the visualization of a product in one's space.
Workshop Question - Conceptualize an immersive retail experience for online environments.
7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
App-Powered Store
Brands in China are partnering with WeChat for experiential in-store experiences
Trend - The use of WeChat to create in-store shopping experiences that feature digital experiences and enhancements is on the rise in China. These partnerships allow for more seamless interactions considering the prevalance of the WeChat app--allowing customers to engage in-store without having to download any additional apps.
Workshop Question - How is your brand catering to the digital habits of younger demographics?
6.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
One-to-One Retail
Stores serve one customer at a time to give safe, ultra-custom experiences
Trend - The retail industry has seen a lot of transformation in light of the pandemic. One recent development is the growth of storefronts or services dedicated to limiting the shopping experience to two people: the retail worker and the customer. This is being executed virtually as well as in person and has the benefits of both safety and full personalization.
Workshop Question - How will you satisfy the opposing consumer need for experience and safety in the new normal?
4.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Experiential Addition
Retail brands make the store a destination post-Pandemic
Trend - Still betting on the experience economy, brands are launching retail initiatives that are seemingly unrelated to their products or services. These are solely designed to provide such a high level of surprise and delight to override concern for visiting public spaces. These activations are created with COVID-19 safety and hygiene guidelines in mind, yet also draw over-the-top inspiration from adjacent industries.
Workshop Question - Conceptualize an experience that will fit into the COVID-19 climate.
6.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
3d Shopping
3d virtual shopping platforms aim to elevate the purchase journey
Trend - 3d visuals on e-commerce platforms are increasingly popular as consumers seek out more immersive forms of virtual retail. These aesthetics have the benefit of showing customers the products in a more realistic and all-encompassing way.
Workshop Question - How is your brand enhancing its virtual shopping experience for customers?
7.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends