Impact of Artificial Intelligence on Customer Loyalty in the Indian Retail Industry

2022 ◽  
pp. 26-39
Author(s):  
Kirandeep Bedi ◽  
Monica Bedi ◽  
Ramanjeet Singh
Keyword(s):  
Artificial Intelligence ◽  
Technological Innovation ◽  
Retail Sector ◽  
It Systems ◽  
Shopping Experience ◽  
Store Design ◽  
Traditional Manufacturing ◽  
Retail Organizations ◽  
The Impact ◽  
Loyal Customers

Artificial intelligence has led to the automation of traditional manufacturing and industrial processes and practices. The use of artificial intelligence improves customer experience and it's a proven fact that consumers who enjoy their shopping experience end up making more purchases. Retailing is one of the sectors that has seen drastic changes after the inception of artificial intelligence. This transformation can be seen in the supermarkets like Amazon Go store, Alibaba Hema store, IKEA, and many others. The objective of this chapter is to study the impact of artificial intelligence on Indian retail customers. Primary survey was conducted for the study and it was found that retail organizations emphasizing store design/layout and adoption of technological innovation to ease the consumer buying process were more successful in creating loyal customers for their stores. It can be concluded that India is still lacking in the adoption of IT systems in the retail sector and serious efforts are required in this direction.

The Impact of Demographic Factor on Consumer Buying Behaviour: A Study of Retail Sector in Delhi NCR

2015 ◽  
Vol 3 (1) ◽  
Author(s):  
Shamsher Singh ◽  
Ameet Sao
Keyword(s):  
Sampling Method ◽  
Primary Data ◽  
Survey Method ◽  
Retail Sector ◽  
Demographic Shift ◽  
Customer Perception ◽  
Shopping Experience ◽  
Buying Behaviour ◽  
The Impact ◽  
Structured Questionnaire

The retail sector is growing a faster pace in India due to demographic shift in population and growing middle class. It is an opportunity for both organized and unorganized sectors. The purpose of this article is to study the customer perception and shopping experience about organized and unorganized retailing with special reference to Delhi and NCR and find out whether the preferences for organized and unorganized retailing are dependent or independent demographic characteristics of consumers. The study has used the primary data collected from 200 respondents through survey method using structured questionnaire. Convenient sampling method was used during the

Disruptions of the Fourth Industrial Revolution

2021 ◽  
pp. 189-199
Author(s):  
Idris Olayiwola Ganiyu ◽  
Ola Olusegun Oyedele ◽  
Evelyn Derera
Keyword(s):  
Artificial Intelligence ◽  
Technological Innovation ◽  
Industrial Revolution ◽  
Technological Innovations ◽  
Fourth Industrial Revolution ◽  
Skill Gaps ◽  
The World ◽  
The Future ◽  
The Impact ◽  
And Robotics

The Fourth Industrial Revolution has resulted in the disruption of the world of work whereby technological innovation such as artificial intelligence (AI) and robotics. These disruptions may be creative in that as some jobs are lost due to the development of artificial intelligence, new ones are created. This chapter explored the impact of disruptive technological innovations on the future of work. The skill gaps brought about by the emergence of the Fourth Industrial Revolution was also explored in this chapter.

scholarly journals Shopping motivation in consumer loyalty formation process: the case of Spanish retail

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sandra Tena-Monferrer ◽  
Juan Carlos Fandos-Roig ◽  
Javier Sánchez-García ◽  
Luis J. Callarisa-Fiol
Keyword(s):  
Perceived Quality ◽  
Measurement Scale ◽  
Retail Sector ◽  
Consumer Loyalty ◽  
Specific Product ◽  
Content Type ◽  
Precise Knowledge ◽  
Shopping Experience ◽  
Shopping Motivation ◽  
The Impact

PurposeWith the gradual decline of the small retail sector in the past recent years, few researchers have been addressing the issue from a motivational approach. This paper aimed to examine the role of utilitarian, hedonic and ethical motives in the process of forming consumer loyalty in a retail setting.Design/methodology/approachA total of 213 surveys were carried out among regular fashion and accessories shoppers in Spanish small-sized retailers. A two-step methodology proposed by Anderson and Gerbing (1988) was applied to test the model.FindingsEthical shopping motivation was found to have the most relevant impact on its perceived quality and on its reassurance to a small-sized retailer, as it represented a strategic asset. Although the most appropriate approach would not be focused mainly on ethical aspects in order to be competitive in the new retailing landscape, consumers should recognize that they are contributing to a worthy cause while enjoying the shopping experience.Practical implicationsSmall-sized retailers should provide consumers with good reasons for shopping in their businesses rather than their competitors’. Moreover, it is key to differentiate and build customer loyalty with the purpose of becoming more competitive. As a consequence, in this paper, we propose a measurement scale that can be used to evaluate abstract and complex consumers’ shopping motivations.Originality/valueThe pursuit of more precise knowledge of factors that lead consumers to shop for a specific product is vital for small-sized retailers, toward sustainable competitiveness. Here we analyzed the impact of the three innovative dimensions in shopping motivation on consumers’ perceived quality and their influence on repurchase intention.

scholarly journals Determining the Impact of Artificial Intelligence on ‘Developing Marketing Strategies’ in Organized Retail Sector of West Bengal, India

2019 ◽  
Vol 8 (6) ◽  
pp. 3031-3036
Keyword(s):  
Artificial Intelligence ◽  
West Bengal ◽  
Target Population ◽  
Marketing Strategies ◽  
Validity Study ◽  
Retail Sector ◽  
Direct Impact ◽  
Retail Outlets ◽  
The World ◽  
The Impact

In this age of digitization, technology is evolving rapidly. Organizations are trying their best to match up with this evolution so that they are ready to face the competition in the market. Artificial Intelligence is the name of one such technology which is getting attention across the world because of its many advantages. Organized retail stores are one of the first sectors to successfully implement this technology in order to meet the demands of the customers. This technology also plays a crucial role in gathering the data as well as analyzing it. The results are useful for the development of new marketing strategies which might be adopted by the company in the future. This study aims to identify the factors which have a direct impact on the development of marketing strategies by the use of Artificial Intelligence. The study is limited to West Bengal, India. The target population was the employees who work in the retail outlets. Reliability as well as validity study along with Multiple Regression Analysis was implemented in this study. Some crucial factors were identified which were helpful in the designing of the effective and efficient marketing strategies of the retail sector firms through the extensive use of Artificial Intelligence.

scholarly journals The Impact of Fintech on Corporate Technology Innovation Based on Driving Effects, Mechanism Identification, and Heterogeneity Analysis

2021 ◽  
Vol 2021 ◽  
pp. 1-12
Author(s):  
Jianwei Li ◽  
Na Li ◽  
Xiang Cheng
Keyword(s):  
Artificial Intelligence ◽  
Technological Innovation ◽  
Fixed Effects ◽  
Emerging Technologies ◽  
Innovation Policy ◽  
Policy Support ◽  
Real Economy ◽  
Fixed Effects Model ◽  
The Government ◽  
The Impact

Fintech relies on emerging technologies such as artificial intelligence and big data to bring a new business model to the financial system; can this new change promote corporate technological innovation? To explore this question, this paper examines the possible impact mechanism of Fintech on enterprise technological innovation based on the examination of the impact of Fintech on enterprise technological innovation through a panel fixed effects model, using A-share listed enterprises in Shanghai and Shenzhen markets in China from 2011–2019, and further explores whether there is heterogeneity in this impact among enterprises with different traits. The results show that Fintech development can significantly promote firm technological innovation and that Fintech can influence firm technological innovation through two mechanisms: alleviating firm financing constraints and providing market opportunities for firms to enhance their profitability. In addition, the driving effect of Fintech on technological innovation is more pronounced in new firms, state-owned enterprises, and nonborrowed and listed firms. Based on the conclusion, it is proposed that the government should enhance certain policy support for Fintech guided by emerging technologies such as artificial intelligence, help Fintech empower the real economy, and at the same time promote the deep integration of Fintech and real enterprises, especially to strengthen the identification of Fintech for new enterprises and encourage state-owned enterprises to implement employee stock ownership system, as well as sound market construction to reduce barriers to listing of high-quality enterprises, so as to improve innovation policy effectiveness and provide a reference for the mitigation of enterprise innovation problems in the new situation.

Artificial Intelligence as a Technological Innovation to Accelerate Economic Development

2019 ◽  
Vol 12 (3) ◽  
pp. 125-133
Author(s):  
S. V. Shchurina ◽  
A. S. Danilov
Keyword(s):  
Artificial Intelligence ◽  
Economic Development ◽  
Technological Innovation ◽  
Manufacturing Industry ◽  
New Technologies ◽  
Retail Trade ◽  
High Tech ◽  
Industrial Complex ◽  
Technological Gap ◽  
The Government

The subject of the research is the introduction of artificial intelligence as a technological innovation into the Russian economic development. The relevance of the problem is due to the fact that the Russian market of artificial intelligence is still in the infancy and the necessity to bridge the current technological gap between Russia and the leading economies of the world is coming to the forefront. The financial sector, the manufacturing industry and the retail trade are the drivers of the artificial intelligence development. However, company managers in Russia are not prepared for the practical application of expensive artificial intelligence technologies. Under these circumstances, the challenge is to develop measures to support high-tech projects of small and medium-sized businesses, given that the technological innovation considered can accelerate the development of the Russian economy in the energy sector fully or partially controlled by the government as well as in the military-industrial complex and the judicial system.The purposes of the research were to examine the current state of technological innovations in the field of artificial intelligence in the leading countries and Russia and develop proposals for improving the AI application in the Russian practices.The paper concludes that the artificial intelligence is a breakthrough technology with a great application potential. Active promotion of the artificial intelligence in companies significantly increases their efficiency, competitiveness, develops industry markets, stimulates introduction of new technologies, improves product quality and scales up manufacturing. In general, the artificial intelligence gives a new impetus to the development of Russia and facilitates its entry into the five largest world’s economies.

Trading faces: Complete AI face doubles avoid the uncanny valley

2020 ◽  
Author(s):  
Christopher Welker ◽  
David France ◽  
Alice Henty ◽  
Thalia Wheatley
Keyword(s):  
Artificial Intelligence ◽  
Sexual Orientation ◽  
Uncanny Valley ◽  
Torture Survivors ◽  
The Uncanny ◽  
The Creation ◽  
Full Face ◽  
The Impact

Advances in artificial intelligence (AI) enable the creation of videos in which a person appears to say or do things they did not. The impact of these so-called “deepfakes” hinges on their perceived realness. Here we tested different versions of deepfake faces for Welcome to Chechnya, a documentary that used face swaps to protect the privacy of Chechen torture survivors who were persecuted because of their sexual orientation. AI face swaps that replace an entire face with another were perceived as more human-like and less unsettling compared to partial face swaps that left the survivors’ original eyes unaltered. The full-face swap was deemed the least unsettling even in comparison to the original (unaltered) face. When rendered in full, AI face swaps can appear human and avoid aversive responses in the viewer associated with the uncanny valley.

STORE ATMOSPHERIC FACTORS AT SELECT LARGE FORMAT RETAIL STORES IN HYDERABAD

2020 ◽  
pp. 1-4
Author(s):  
M Himabindu
Keyword(s):  
Sampling Technique ◽  
Retail Stores ◽  
Retail Sector ◽  
Large Format ◽  
Shopping Experience ◽  
Innovative Tool ◽  
Convenience Sampling ◽  
Atmospheric Factors ◽  
Number Of Customers ◽  
Structured Questionnaire

Store Atmospherics is an innovative tool that retailers use to attract a number of customers into the store and retain them for longer time in the store. The share of large format retail stores in organized retail sector is increasing significantly. This paper is an empirical study of factors of Store Atmospherics from customers’ viewpoint. Data was collected through structured questionnaire from 75 respondents following convenience sampling technique. Reliability test and factor analysis were done using SPSS. Results show that Store Music, Store Decorations, Store Fragrance, Store Brightness, In-store Promotions and Ambience are the important Store Atmospheric factors. Large format retailers should focus more on these so as to increase their appeal to the customers and give them a good shopping experience so that favourable shopping outcomes follow.

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