The AI-Powered Future of Retail
70% of shoppers visit a brick-and-mortar retail store weekly – that’s a lot of foot traffic.
But that mean retailers can put their feet up. Today’s retail environment is changing quickly, and shopper expectations and preferences are at an all-time high. Retailers face increasing challenges amidst ecommerce, shopper demands, and decreasing overall retail sales growth.
At Mobile Insight, we’re harnessing the power of AI to revolutionize the in-aisle, in-store experience. We’ve created the first AI-powered virtual brand ambassador. With a human-like avatar and structured technology-enabled buyer’s journey logic, VIBA is solving today’s retail problems.
Today’s Brick-and-Mortar Retail Challenges
Inadequate and Uninformed Staffing
Consistent and capable staffing is a persistent challenge faced by brick-and-mortar retailers. A recent survey shows that retailers are experiencing higher rates of turnover than in years past. In fact, our team recently heard from one national specialty retailer that they see a turnover of 90,000 employees every year! This issue can significantly impact customer satisfaction, sales, and overall business performance. Underinformed staff may be unable to provide customers with accurate product information or address their needs effectively. A lack of sufficient and uninformed staff can lead to poor customer service, a negative shopping experience, and missed opportunities to convert shoppers to buyers.
VIBA is designed to compensate for inadequate staffing. VIBA is always-on, available 24/7, and empowered with rich product data. It is able to answer shoppers’ questions, provide product comparisons and recommendations, and deliver purchase incentives like limited-time rebate offers. VIBA fills the gap in brick-and-mortar staffing challenges.
Increased Shopper Demands
We’ve all come to expect things fast, convenient, and personalized for us. Brick-and-mortar shoppers are no exception. Shopper expectations and demands in brick-and-mortar retail have evolved significantly in recent years, driven by factors such as the rise of e-commerce, technological advancements, and changing consumer preferences. According to a recent report from IBM, only 9% of people are satisfied with their in-store shopping experience. The same report indicates that over half of the respondents are eager for AI enhancements, and that’s where VIBA comes in.
Instant product information, answers to questions, and guided recommendations are available anytime, for every customer with VIBA. VIBA’s AI and machine learning capabilities adapt to individual shopper needs and deliver informed and personalized product recommendations, while engaging with shoppers using remarkably human-like behavior.
Decreasing In-Store Sales
Retail growth is expected to slow in the coming years. According to a recent market report, the retail industry growth year-over-year is forecasted between 3-4%, compared to nearly 13% growth in 2021. As ecommerce technology and touchpoints continue to expand, shoppers have more options to choose from when they make their purchase – online, in-app, via text, from a large online retailer like Amazon, or finally in store. Ecommerce currently reflects 20% of retail sales. It is With slowing retail growth and increasing ecommerce sales, brick-and-mortar retailers must ready themselves to provide compelling and meaningful shopping experiences in store.
VIBA is designed to convert shoppers to buyers. The AI-powered intelligent buyer journey management is optimized to shopper purchase intent. Product information, guided recommendations, and answers to questions are all structured to increase sales conversion rates. VIBA performs like your best sales associate, knowledgeable about products and features, and skilled in moving shoppers towards purchase.
Revolutionize the Retail Experience with AI
The retail industry is rapidly evolving and AI is at the forefront of this revolution. By leveraging the power of AI-powered VIBA, retailers can address the challenges of inadequate staffing, increased shopper demands, and declining sales growth. VIBA is a comprehensive solution that provides personalized experiences, enhances customer satisfaction, and drives sales. If you’re looking to stay ahead of the curve and elevate your in-store experience, VIBA is the answer.
Contact us today to learn more about how VIBA can transform your retail business.
Or, experience VIBA yourself with the demo on our website.