GenAI: Revolutionizing How Retailers Connect with Shoppers
Generative AI is one of the most compelling technology innovations to emerge recently. Although GenAI is on the radar of nearly every retailer, its usage in online retail has been limited, mostly due to fear of hallucinations, or simply because retailers wish to avoid anything that could distract shoppers during their buying journey. However, in our recently released Commerce Industry report, we found that attitudes towards GenAI are rapidly changing. Our findings point to GenAI driving a shift in shopper expectations: 72% of the consumers we surveyed said they expect their shopping experiences to evolve due to GenAI. One realistic and valuable use case for GenAI has already emerged -- showcasing brands’ specialized expertise. Using rich content such as blogs, videos and articles, GenAI can surface the expertise of a retailer and gain the trust of a shopper at the beginning of the shopping journey. Questions such as ‘what type of paint should I use for an outdoor children playground?’ or ‘how do I fix a leaking toilet and what do I need to do to complete the fix?’ can easily be answered by a well-trained and grounded GenAI solution. Using GenAI to educate customers leads to a more efficient shopping journey, increasing shopper satisfaction and reducing bounce rate and returns, and ultimately, increasing revenues and profitability.
Simon Langevin
VP of Product Commerce, Coveo
BACK TO TOP
