The Confluence of AI and Retail: A Case Study of Continuous Transformation
Keywords:
Artificial intelligence, Customer, Retailers, purchasing decision, Consumer experienceAbstract
Evolving digital technologies and unprecedented competition generates numerous challenges to traditional retailers. The emergence of innovative business models in the competitive surroundings disrupt the retail industry. The main objective of the present study is to evaluate the challenges in adopting AI in the retail and influence of AI such as a footfall counting system on consumers’ purchasing decision and performance are investigated. The theory of disruptive business models are analysed to identify the key disruptors. The present study executes mixed method approach, where quantitative analysis use SPSS and qualitative analyse data using thematic analysis. This method employs interview form to gather data. The current study implements quantitative analysis employing the SPSS software and survey method is adopted to collect data from the retailers using a structured questionnaire. Purposive sampling approach has been embraced for analysis. The intention behind the technique is to collect data related to the perception of retailers concerning the adoption of AI in the sector of retail. Descriptive statistics, ANOVA, correlation and one sample T-test are performed in research. The outcomes of the study reveals the impact of digital technologies on the improvised consumer experiences, growth and sustainability in the retail sector. Furthermore, the study also evaluate the challenges faced in implementation of the digital platform in the retailing. And also recommend the retailers to implement an effective framework in the retail industry to enhance customer satisfaction. Finally, the research study aids the retailer to achieve the sustainable business strategy in the competing business environment through AI.
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