As we all know, Black Friday is the biggest shopping day of the year. People line up for hours – and sometimes even days! – to get that perfect deal they are yearning for.
However, this year we will see a different type of Black Friday. Artificial intelligence (AI) has been integrated into many sectors, such as banking and healthcare. Now, AI is in the Black Friday deal as well!
This article will take a look at what AI can do for Black Friday shoppers. We will see how it can change our shopping experience and examine some of its use cases in the retail industry, including:
- How black Friday deals with machine learning predictions
- Black Friday’s trends of artificial intelligence in retail
- The future of Black Friday shopping
Why The Future Of Black Friday Shopping Looks Promising With AI
Black Friday is a worldwide shopping event that takes place on the day after Thanksgiving. It has been happening for over 50 years now, and it is considered the unofficial start of the holiday shopping season. Retailers are eager to take advantage of this event because it often signifies a spike in their sales.
Experts predict that Black Friday will be bigger than ever this year, with close to 40% of consumers have already begun their search for deals. That’s because retailers invest heavily in AI-powered tools designed to make shopping more accessible and less time-consuming, leading to more purchases.
Some experts think that AI may eventually replace human shoppers at brick-and-mortar stores as consumers become more comfortable using voice assistants like Alexa and Siri to purchase goods online.
Black Friday is the best time of the year for retailers to target customers with sales promotions.
Retailers can use AI and Machine Learning tools to predict what the customers want and generate personalized promotions to increase their chances of getting a sale.
How AI Helps in Personalizing Cyber Monday Deals for Customers?
Cyber Monday is one of the biggest online shopping days of the year. As such, retailers need to engage with customers and provide personalized deals to improve their conversion rates.
To personalize Cyber Monday deals for customers, retailers use techniques like machine learning and artificial intelligence. According to research firm Gartner, by 2022, 70% of customer interactions will involve emerging technologies such as machine learning (ML) applications, chatbots, and mobile messaging
Machine learning is a type of AI that helps collect customer data from various sources – from social media sites to e-commerce stores – and use it to make predictions about their interests and needs. Artificial intelligence helps make these predictions more accurate by providing personalized content and better inventory management.
AI Innovation at its Best in Retail Examples
The retail industry is constantly evolving. Especially when it comes to using artificial intelligence in stores, AI significantly impacts customer experience and bottom line.
Retailers can use AI in many ways, but here are some of the most popular use cases:
– Staffing optimization by monitoring staff performance against key metrics. During hectic days, like Black Friday, it is crucial to keep pace. Artificial intelligence is helping by keeping track of main metrics and pairing them with the staff’s performance.
– Monitoring store activity to determine which products should be promoted or restocked. The organization is critical! Thanks to algorithms, brands and stores will never run out of products and bestsellers in the worst moment possible.
– Optimizing product placement in stores by monitoring customer browsing patterns. What happens if a not-so-famous product becomes instantly famous and the stocks run out? Well, you don’t have to worry about it because artificial intelligence can understand what customers are looking for and place the right product at the right place by consequence.
AI Trending Predictions for Black Friday shopping Deals
Black Friday is the biggest shopping day of the year. It means that retailers need to figure out ways to get customers into their stores, squeezing out every dollar they can.
The traditional way for retailers to do this is by making predictions about what customers want and then having these items available at discounted prices, leveraging statistics.
Retailers and their customers have always had to guess what products and services they will be interested in before investing time and money. With the rise of AI, retailers can use machine learning predictions instead of simply guessing. This technology is already being used by some retailers such as Amazon. Customers can log in to their accounts, and the website will recommend products based on previous purchases.
How Artificial Intelligence Could Change Black Friday Shopping Forever
COVID-19 limits the movement of people and, as a result, increases online sales. According to estimates in a UNCTAD report, online sales increased from 16% to 19% of total retail sales in 2020.
Artificial intelligence is the future of sales. Sales will affect our economy, society, and how we live in it. One of the most significant changes AI will bring to human life is in terms of consumption. AI will take over repetitive tasks like shopping for groceries or selecting presents for birthdays. At the same time, humans will focus on more essential functions like creativity, emotional support, and teaching.
On Black Friday, stores offer considerable discounts to get more customers in their stores. With the help of AI, retailers can better understand their customers and optimize the shopping experience by suggesting products based on what they’ve bought in the past. This recent advancement has led to increased sales for retailers.
Conclusions: Black Friday and Cyber Monday AI-empowered Shopping Experience
Companies are now developing AI assistants for retail purposes. These AI assistants can track customers’ shopping habits and suggest items that might interest them.
The future of shopping with artificial intelligence is here to stay. It will continue to evolve as AI systems understand users’ needs and provide personalized recommendations for them.
How do you imagine the future of shopping?