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NEWS
Shoppers and Retailers See Benefits from AI in the Store, SPAR Group Survey Shows
Wednesday, 8th January at 10:00 am
• Consumers want AI in Retail to be used for delivering value and personalization through in-store coupons, product information, no-stop checkouts and in-store digital assistants
• Retailers currently see bigger benefits from AI than consumers, especially in through lowering human overhead, improving security and stock management
Seven in 10 consumers are familiar with the use of Artificial Intelligence at the retail locations where they shop and more than half have a positive impression of the technology. Shoppers are looking for wider deployment of AI-supported services like in-aisle promotions, product information, no-stop checkout and in-store digital assistants. On the retailer side, three-quarters of companies say AI has had a positive impact on their store operations, both at improving efficiency and keeping products stocked. A new SPAR Group survey on the impact of AI at the store level shows that both retailers and consumers believe AI has the potential to make shopping easier, drive stronger brand reputation and improving the experience for both buyers and sellers.
"The SPAR AI in Retail Survey reveals strong business cases for the use of artificial intelligence tools at stores, with both customers and merchants reporting positive outcomes from solutions and applications driven by the technology. Retailers still need to do a much better job of explaining the benefits of AI to consumers, but both groups are well on their way to an improved shopping/working experience and that will drive growth in the industry," said Mike Matacunas, CEO and president, SPAR Group.
Key Findings of the SPAR AI in Retail Survey include:
• 95-100% of retailers agree that AI positively impacts their store's operations, efficiency, stocking demand, customer service and support with lowering costs.
• 45-55% of consumers have positive perceptions for most aspects of AI, though slightly higher for digital assistants/personalized shopping lists and keeping products stocked (~60-70%).
• Younger consumers (between 18 and 54 years old) are more receptive of AI in retail spaces, being more familiar, satisfied and having a more positive impression of AI. They also mention that they would like AI supported in-store digital assistants and personalized shopping lists.
• Older consumers (55+) are more concerned about AI usage, specifically on privacy and transparency issues, but would like to use AI to get information about products.
Wednesday, 8th January at 10:00 am
• Consumers want AI in Retail to be used for delivering value and personalization through in-store coupons, product information, no-stop checkouts and in-store digital assistants
• Retailers currently see bigger benefits from AI than consumers, especially in through lowering human overhead, improving security and stock management
Seven in 10 consumers are familiar with the use of Artificial Intelligence at the retail locations where they shop and more than half have a positive impression of the technology. Shoppers are looking for wider deployment of AI-supported services like in-aisle promotions, product information, no-stop checkout and in-store digital assistants. On the retailer side, three-quarters of companies say AI has had a positive impact on their store operations, both at improving efficiency and keeping products stocked. A new SPAR Group survey on the impact of AI at the store level shows that both retailers and consumers believe AI has the potential to make shopping easier, drive stronger brand reputation and improving the experience for both buyers and sellers.
"The SPAR AI in Retail Survey reveals strong business cases for the use of artificial intelligence tools at stores, with both customers and merchants reporting positive outcomes from solutions and applications driven by the technology. Retailers still need to do a much better job of explaining the benefits of AI to consumers, but both groups are well on their way to an improved shopping/working experience and that will drive growth in the industry," said Mike Matacunas, CEO and president, SPAR Group.
Key Findings of the SPAR AI in Retail Survey include:
• 95-100% of retailers agree that AI positively impacts their store's operations, efficiency, stocking demand, customer service and support with lowering costs.
• 45-55% of consumers have positive perceptions for most aspects of AI, though slightly higher for digital assistants/personalized shopping lists and keeping products stocked (~60-70%).
• Younger consumers (between 18 and 54 years old) are more receptive of AI in retail spaces, being more familiar, satisfied and having a more positive impression of AI. They also mention that they would like AI supported in-store digital assistants and personalized shopping lists.
• Older consumers (55+) are more concerned about AI usage, specifically on privacy and transparency issues, but would like to use AI to get information about products.
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