HOW AI IS SHAPING TODAY’S RETAIL FASHION SECTOR?

It is impossible for us to switch on our laptops or even glance at our phones without hearing about how artificial intelligence is changing and will change everything, including things like our working style, how we make things, how we meet an ideal partner and even the procedure that will be used to treat cancer in the years to come.

But will AI change the way we shop for clothes? Well, this procedure has already begun. Wondering how? Lakshita’s story will explain it to you!

Lakshita is a fashion-forward professional. Her love for online shopping is immense. However, she is often frustrated by the time required for selecting the right fit. One day, while browsing Warby Parker’s online website, she came across something new! It was an AI-powered virtual try-on tool. She further decided to give it a shot.

With just a few clicks, the AI scanned Lakshita’s face and allowed her to see how the selected sunglasses would look on her. She was able to see a 3D model of herself wearing the glasses. The AI doesn’t stop there. It scanned the structure and shape of her face and further provided her with some suitable eyeglass options that would look good on her.

The virtual try on feature did not only save Lakshita’s time and frustration, but also directly reduced the likelihood of returns. Also, the ability of artificial intelligence to use her preferences and past purchases to make customized and personalized recommendations further enhanced her shopping experience, making it more seamless and enjoyable.

It is very clear that just as millennials witnessed the internet boom, these Gen Z and Gen Alpha kids will witness the boom of artificial intelligence and augmented reality. Let us now discover some of the main benefits of AI integration in the retail fashion sector.

Increased conversion rates

As already mentioned in the above information, virtual try on facilities will lead to a significant boost in the online conversion rates. Shopify conducted a study according to which it was clearly seen that products with AR content showed a 90 percent higher conversion rate in comparison to the products without it. Well, the main reason behind this is suspected to be the immersive shopping experience that virtual try ons provide to the shoppers.

Reduced return rates

A brand puts in all the hard work, time, and money in order to ensure that its customers make a purchase. The main reason behind hiring the best retail brand promotion agency is to attract the eyeballs of people, encourage them to visit the store, and eventually make a purchase. However, even after putting in so much effort, high rates of product returns are one of the biggest challenges faced by retailers. There are certain reasons behind this as well. The gap between how the product appears online and the actual product received by the online shopper is definitely one of them. On the other hand, not finding a desirable product in the store and eventually buying the available one are also major reasons.

AI has emerged as a savior in this situation. Irrespective of whether the shoppers are at the store or doing online shopping, they have the option of virtually trying on the things. Also, AI will further recommend the best products that will match their preferences and suit their body type as well. All this will eventually increase the satisfaction rate of customers, further reducing the chances of product return.

Enhanced in store experience with AI and AR

Keeping aside the aspect of online shopping, artificial intelligence and augmented reality can enhance the in store retail experience of customers by providing them with real time fashion recommendations and interactive displays.

Brand design agencies can set up elements like smart mirrors in retail stores. This will help customers get a virtual try on experience without undressing themselves. This will directly increase the comfortability and convenience of shoppers. Also, providing useful suggestions like complementary accessories will further lead to increased sales.

In addition, AI shopping assistants can guide the shoppers through the entire shopping procedure, helping them select specific items and also providing them with a personalized retail experience.

Retained customers and enhanced loyalty

Retailers can hire a well reputed brand design agency and ask them to integrate virtual try on technology in their online and offline shopping stops. Doing this will help them offer more interactive, engaging, and personalized shopping experiences to their customers. In addition, all these technological innovations will attract the eyeballs of customers, catch their attention, and further encourage them to spend more time on the shopping platform.

Even industry leaders like Gartner recognize the potential of AR to maximize the customer’s overall shopping experience in the retail space.

Fostering a sense of cultural sensitivity and personal branding

In this globalized world, retail brands who wish to flourish need to have a proper understanding of cultural nuances. This is mandatory as it helps target high end customers from various regions. AI and AR can help navigate these complexities and offer solutions that satisfy different cultures.

Algorithms can analyze cultural trends and preferences to further provide retail brands with valuable insights that can help them understand what works best for different demographics. Also, by using this data, retail brands can also create collections according to specific audience bases in order to ensure targeted and effective approaches.

Augmented reality can help shoppers define and enhance their personal branding by providing appropriate fashion choices. Also, artificial intelligence can analyze the cultural backgrounds of customers and further provide product recommendations. All this will ensure that the customer gets a positive impression and perception of the brand.