4 GenAI Capabilities Now in Every Retailer’s Reach
Until recently, only tech giants with retail operations (you know who we mean) had the resources to deploy advanced AI capabilities designed to boost retail revenue. But with the rise of GenAI, these powerful capabilities are now easily within reach for retailers of all sizes, leveling the playing field. Here are four breakthrough GenAI capabilities that retailers can now access.
Join me and Relevantz as we look at the GenAI capabilities that are leveling the playing field for retailers everywhere.
4 GenAI Capabilities to Drive Retail Success
1
Semantic Search
Understand Customer Intent
WHAT IS IT?
Enables search to interpret what customers mean, not just what they type.
WHY IT MATTERS
Helps customers find products faster
Boosts conversions by matching search results to intent
EXAMPLE
A customer searches “gift ideas for new parents,” and with the power of GenAI, the search curates a selection of popular baby products and parenting essentials, matching the customer’s intent.
2
Smart Reviews
Instant Insights & Responses
WHAT IS IT?
Analyzes customer reviews in real-time to capture insights and trends.
WHY IT MATTERS
Flags product feedback trends automatically
Recommends responses to improve customer engagement
Streamlines reputation management
EXAMPLE
Using GenAI, feedback about a 'fit issue' is flagged, prompting suggestions for a sizing guide or product update.
3
Dynamic Pricing
Stay Competitive, Automatically
WHAT IS IT?
Automates pricing adjustments based on real-time demand, competition, and trends.
WHY IT MATTERS
Keeps pricing competitive
Increases revenue with real-time adjustments
Saves time with automation
EXAMPLE
Pricing for winter coats can adjust automatically based on demand as the season changes. Similarly, with surge pricing, a product’s price can fluctuate depending on how many customers have it in their carts—keeping you competitive without constant manual updates.
4
Computer Vision
Smarter Inventory and Customer Insights
WHAT IS IT?
Uses cameras and image recognition to monitor inventory and analyze foot traffic.
WHY IT MATTERS
Tracks inventory in real-time
Optimizes store layout and staffing
Provides instant updates for inventory changes
EXAMPLE
Computer vision can monitor tire stock in a warehouse or track inventory on production lines, improving accuracy and reducing manual work.
Ready to enhance your retail operations with GenAI?
Contact us to discover how Relevantz can make it happen.
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