Power of Personalisation

AI (artificial intelligence), ML (machine learning) and new-age tech tools are revolutionising the e-commerce and retail industry by enhancing various aspects of operations and customer experience. Through AI-powered technologies such as computer vision, ML and natural language processing, retailers and e-commerce brands can optimise customer experiences, personalise marketing strategies and drive growth.

So, how are brands leveraging innovative new-age tools & tech like AI, AR (augmented reality), personalisation to shape the future of e-commerce & retail? This was at the heart of the discussion at the recently concluded RETAILME CONNECT ROUNDATBLE powered by BYTEPLUS.

Industry thought points

Leading industry leaders from across top retail brands such as ASTER, Majid Al Futtaim, Lenskart, GMG, Rasasi, Lals Group and many more were part of the conversation to highlight and discuss the concept of personalisation and how they are seeing the industry adopt the right tools to make it happen.

Here are 10 highlights from the enriching conversation that the industry embarked on just before the onset of summer, right here in Dubai.

• Integration of AI and ML: Retailers are focusing on integrating AI and ML into their supply chains and inventory management to predict trends and regional preferences more accurately.
• Regional nuances: The importance of adapting products and recommendations to regional preferences and cultural nuances was emphasised. This includes recognising different style preferences across regions, such as eyewear styles in Asia versus Russia.
• Collaboration over competition: There was a strong call for retailers to collaborate rather than compete, recognising that the overall retail environment benefits when all players thrive. This includes sharing insights and learning from each other.
• Virtual try-on technology: Virtual try-on technology has become a significant tool for enhancing customer experience both online and offline. This technology helps increase engagement and provides valuable data on consumer preferences.
• Sustainability and ethical practices: Retailers are increasingly prioritising sustainability and ethical practices, aligning with consumer demands for more responsible business operations.
• User-generated content: The role of user-generated content in building brand loyalty and engagement was highlighted, with retailers looking to integrate this into their platforms more effectively.
• Data-driven personalisation: Personalisation based on data analytics continues to be a crucial trend, with retailers leveraging customer data to offer tailored recommendations and experiences.
• Omnichannel strategies: The integration of online and offline channels to create a seamless shopping experience remains a key focus, with technologies such as AR and VR (virtual reality) playing a significant role.
• Gamification: Incorporating gamification elements into the shopping experience to increase engagement and make the process more enjoyable for customers.
• Influence of technology on leadership: The increasing importance of technology in retail is expected to drive more tech-savvy leaders to the forefront of the industry, with many tech leaders potentially moving into CEO and other executive roles.

What’s cooking

Further, Byteplus believes in having the right dialogue with industry leaders and the retail ecosystem and through their participation at the Saudi Retail Forum 2023 by IMAGES Group, they have been able to connect with the right audience and here is a short snippet on what’s cooking.

Jawhara Jewellery announces strategic partnership with BytePlus to ignite digital transformation

BytePlus, the enterprise technology arm of ByteDance that supports businesses in accelerating their digital transformation capabilities, has announced a groundbreaking partnership with Jawhara Jewellery, a distinguished name in the Middle East jewellery industry with a legacy spanning over a century. This collaboration marks Jawhara’s strategic foray into the digital realm, leveraging BytePlus’ latest technology to revolutionise user engagement and drive growth in the ever-evolving digital space.

Founded in 1907, Jawhara is one of the oldest family jewellers in the region with a rich history and reputation earned from quality craftsmanship and natural diamond certification. Constantly expanding its retail store presence, which currently stands at an impressive 300 stores across the GCC, Jawhara Jewellery is now entering the digital landscape enabled by the BytePlus partnership.

Recognising the need to embrace digital transformation, Jawhara Jewellery is thrilled to join forces with BytePlus, a company renowned for its innovative solutions and commitment to push the boundaries of technology. This partnership will enable Jawhara to harness the power of BytePlus’ state of-the-art technology to enhance user experiences, driving engagement and growth in the digital landscape.

As part of this exciting initiative, Jawhara will also launch an exclusive virtual AR based try-on experience and monthly live shopping sale, a first-of-its-kind in the industry by using the BytePlus enterprise live platform that provides a superior live streaming experience. This platform will showcase a curated selection of exclusive offers and rare collector’s editions, providing Jawhara’s valued customers with a unique and immersive shopping experience.

RetailME Bureau