Operationalizing AI/Advanced Analytics to Improve Online Retail Businesses

Online retail business has seen an influx of customers, who have chosen to dumb the traditional brick and mortar shops and switch to digital purchasing models during the pandemic. The changed customer behaviour has also forced sellers to opt for digital platforms to remain relevant and competitive.

Technological adoption has never been more relevant and the retail industry has been an early adopter to reap its benefits. Several retail players have adopted AR/VR technologies that allow customers a virtual rendition of furniture at their homes, supplemented by human customer support and AI-enabled chat-based shopping.

The gradual shift in metric of gauging success in retail - from sales per square foot to customer experience per square foot - demands adoption of advanced technologies for businesses to stay relevant. Some of the early adopters have used the technologies for

• Customer segmentation and Interaction
• Intelligent product recommendation and pricing
• Forecasting, inventory management and logistics

NASSCOM invites you to join a panel discussion to discuss all aspects of technology adoption among retail players.