The AI Revolution in Retail: Intelligent Service, Stock Forecasting and Personalized Recommendations

28 Mar The AI Revolution in Retail: Intelligent Service, Stock Forecasting and Personalized Recommendations

Artificial intelligence (AI) has transformed many sectors, and retail is one of those benefiting most from these innovations. Far beyond just improving customer service through chatbots, AI now plays a strategic role in forecasting demand and personalizing the consumer experience. Companies that adopt these technologies are able to reduce operating costs, improve customer satisfaction and increase their revenues.

Smart Chatbots: The New Customer Service

Chatbots have evolved significantly in recent years. Before, they were limited to programmed and unnatural responses. Today, with generative AI and advanced digital assistants such as Oracle Digital Assistant, chatbots can do it:

• Answer questions more precisely and naturally.
• Understand the context and personalize responses based on the user's profile.
• Assist in finalizing purchases, reducing friction in the conversion process.
• Integrate with different channels, such as WhatsApp, websites and mobile applications.

Companies such as Sephora and Carrefour already use digital assistants to guide consumers when choosing products and to offer agile and efficient customer service.

Stock Forecasting: AI Reducing Costs and Optimizing Resources

Efficient stock management is one of the biggest challenges facing retailers. Poorly planned stock can result in financial losses, whether due to too many products sitting idle or a shortage of high-demand items. With AI, companies can:

• Analyze large volumes of historical data and identify consumption patterns.
• Consider external factors such as seasonality, climate and market trends.
• Predict demand more accurately and avoid stock-outs.
• Automate product replenishment orders based on forecasts.

Walmart, for example, uses AI to predict purchasing patterns and adjust stocks dynamically, ensuring availability without waste.

Smart Recommendations: AI Increasing Conversions and Engagement

Another direct impact of AI in retail is in personalizing the shopping experience. By analyzing consumers' purchase history and behavior, AI systems can:

• Suggest relevant products according to customer preferences.
• Offer personalized promotions at the right time.
• Create more intuitive and efficient shopping experiences.

Imagine a customer accessing an e-commerce site and wanting to buy a pair of sneakers. With AI, they can simply say: "I want black sneakers, size 41, up to R$ 500" and instantly receive filtered suggestions. This model is already used by major players such as Amazon, which recommends products based on users' browsing and purchase history.

The Future of Retail with AI

The combination of automated customer service, stock forecasting and personalized recommendations represents a new paradigm for retail. Companies that invest in AI not only increase their sales, but also improve the consumer experience and make their internal processes more efficient.

MPL, in partnership with Oracle, is at the forefront of this transformation, offering AI solutions for retailers who want to innovate and stand out in the market. If your company is looking for ways to optimize service, reduce operating costs and increase conversions, get in touch and find out how we can help you transform your business with artificial intelligence.