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Monday, July 17, 2023

Try It On: The New Must-Have Item for eCommerce and CPG/Retail is Generative AI

By Brittany Wheeler — Director, Customer Experience Marketing
Woman shopping on a tablet with her credit card in hand
Try It On: The New Must-Have Item for eCommerce and CPG/Retail is Generative AIDirector, Customer Experience Marketing — Brittany Wheeler
Woman shopping on a tablet with her credit card in hand

Is the landscape of commerce on a constant trajectory of evolution? Absolutely. Even now, the consumer-packaged goods (CPG), retail, and eCommerce sectors are currently undergoing swift transformation poised to reshape shopping experiences to be more personalized, rapid, and intelligent. And within the array of advancements, Generative AI stands out as a particularly potent breakthrough. This development has caught the attention of CIOs, CMOs, CXOs, and other experience leaders seeking to effectively incorporate these advancements to spur growth and increase adoption of their services and products.

Below are some of the notable ways Generative AI is revolutionizing commerce technology and implementation as a must have item.

Generative AI in E-commerce: A Gateway to a Multitude of Opportunities

Generative AI can be utilized in a myriad of methods in the eCommerce sector. When it comes to areas such as content generation, personalization, product design and inventory management, Generative AI is proving its worth.

Content Generation: The usage of Generative AI for content generation, in the form of product descriptions, social media posts, or blog articles, imparts significant benefits. A dynamic generation of content promises freshness and relevance, which contributes to improved SEO and increased user engagement.

Personalized Experiences: Generative AI leverages the analysis of consumers' comprehensive data, including browsing patterns, purchase history and demographic information. This allows for personalization of experiences which improves customer satisfaction and consequently increases sales.

Product Design: Innovation is an indispensable pillar of modern business landscape. And to this end, Generative AI's aptitude to generate product images and design new products is undoubtedly groundbreaking.

Inventory Management: Efficient inventory management forms the cornerstone of any successful eCommerce business. Generative AI can be of great value by making precise predictions based on analyzed data points. This leads to optimized inventory, significantly reduced costs and improved efficiency.

Generative AI in CPG/Retail: The Strategic Advantage

In the CPG/Retail sector, Generative AI can significantly contribute to streamlining business processes, personalizing shopping experiences, optimizing supply chain management, and enhancing visual search.

Streamlining Business Processes: In the CPG/Retail sector, operational efficiency directly influences profitability. Generative AI can streamline key business processes, leading to improved efficiency and cost savings.

Personalized Shopping Experience: Generative AI models facilitate personalization of the shopping experience for customers by recommending products based on their purchase history and browsing behavior.

Supply Chain Management: Generative AI solutions have tremendous capability in optimizing the supply chain by spotting patterns and anomalies and detecting potential fraud from transaction data analysis.

Visual Search: Generative AI can enhance the relevance and accuracy of visual search results, allowing customers to effortlessly find similar or visually complementary items.

Trusted Partner in the Journey

As businesses adopt Generative AI, choosing a suitable partner is pivotal. Rightpoint is a recognized name in the digital transformation domain, committed to delivering engaging customer experiences. We have a proven track record of successful collaborations with industry leaders such as Walgreens and World Market, and are skilled in leading technologies including Sitecore, Optimizely, and Adobe Experience Cloud (including Adobe Commerce).

At Rightpoint, we comprehend the distinctiveness of the eCommerce and CPG/Retail sectors and provide tailor-made solutions to meet specific needs. Our conviction in the transforming potential of Generative AI, combined with a human-centered approach rooted in our industry-leading Total Experience methodology, positions us favorably to assist businesses in realizing the full potential of Generative AI.