H&M, The North Face and Sephora have chatbots that ask consumers style questions and then make appropriate recommendations. Neiman Marcus’ app analyzes photos and shows comparable products it has in stock. West Elm utilizes neural networks to show products people are likely to love, based on their Pinterest boards.
What do these strategies have in common? None of them would be possible without artificial intelligence (AI), in which retailers are investing heavily. According to research from WBR Digital and Persado, a quarter of CMOs are planning to spend as much as $100 million on the technology this year alone.
It’s no surprise, given how the biggest names in tech are prioritizing AI. Earlier this year, Google and Microsoft have both proclaimed shifts from being “mobile-first to AI-first” companies.
In our latest report, we explore the ways AI enhances retail marketing, from sophisticated segmentation to dynamic pricing.
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