A little over a decade ago, self-checkout technology started becoming popular in Europe. Since then, the cashier-less retail experience has gained traction in the region as self-service options are rapidly branching into other retail sectors. Furthermore, the associated payment technologies of pay-at-pump fuel and touchscreen kiosks for ordering fast food are already widespread across the continent, buoyed by reduced staffing personnel and shorter queues.
To take it up a notch above and improve the self-checkout experience, many businesses have developed cutting-edge, artificial intelligence (AI)- driven solutions that hint at what the future of in-store retail may entail after self-checkout kiosks. The largest grocery retailer in Europe has also ventured into the field of AI-assisted shopping.
That said, Retailers are utilising technology increasingly to comprehend consumer behaviour and the need to fulfil their expectations. To gain actionable insights and enhance the customer experience, retailers and e-commerce businesses are utilising a variety of AI-based technologies, including chatbots, customer relationship management, and data analytics and visualisation tools. In the years ahead, AI has the potential to significantly alter the retail industry, altering everything from cost structures to the shopping experience.
The size of the global AI in the retail market was estimated at USD 5.79 billion in 2021, and it is anticipated to rise at a CAGR of more than 23.9 per cent from 2022 to 2030. Furthermore, the demand for surveillance and monitoring at physical stores, the rise in smart gadgets, and government regulations favouring digitisation are all contributing causes to the expansion. During the projection period, AI in the European Retail Market would have market growth of 24.1 per cent CAGR (2022-2028).
This edition of Retail Tech Insights highlights the key developments in the Europe AI in Retail Market. It features a combination of thought leadership articles from Anton Antonenkov, Head of IT Enterprise Solutions & Data Analytics, Rimi Baltic Group, and Dalibor Sović, Director of e-commerce, Konzum, with real-life stories on fostering robust partnerships and exclusive insights from CIOs and CXOs. This edition brings you the stories of some of the most successful AI Powered Retail Solution Providers in Europe 2022, like SYMSON and Upp Technologies. We hope this edition will provide you with assistance in choosing the right AI-Powered Retail Solution Providers according to your requirements. We present to you the Top 5 AI-Powered Retail Solutions Providers in UK - 2022 and the Top 10 AI-Powered Retail Solutions Providers in Europe – 2022.
Let us know your thoughts.
