Artificial Intelligence and Retail: A New Frontier

ARTIFICIAL INTELLIGENCE

We are always tracking retail trends influencing the marketplace and were fascinated by a new approach to artificial intelligence and cart abandonment in e-commerce. If you are not in the world of e-commerce and following its every move like we are (it impacts our warehouse development industries, too), you might not be familiar with this terminology. 

Cart abandonment is a term used to describe what happens when a consumer finds a product they might want to buy, adds it to their shopping cart, and never returns to complete the purchase. They may have become distracted, forgotten entirely, or perhaps enjoyed the psychological feeling of making a purchase without actually transacting. 

In our extremely distracted modern life, cart abandonment is a huge barrier for retail operations to overcome in order to increase conversions. Recently, Dick’s Sporting Goods launched an effort to engage with artificial intelligence to apply deep, real-time data to dynamically present personalized content when the customer is demonstrating a readiness to actually purchase. 

Their goal? To utilize creative advertising mechanisms to convince customers to “add to cart” when they are ready to transact. The next time you are thinking about purchasing a new pair of soccer cleats, let us know if the technology seems to be working on you…

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