The modern shopping experience is evolving, and the retail industry is under pressure to keep up with its growing demand As digital disruptors raise the bar for personalized customer experience, traditional retailers struggle to digitally transform their business and stay relevant. To adapt to the new reality, smart retailers are staying competitive by turning to automation to enhance their retail operations and meet customer expectations.
Automation and Machine Learning technology have expanded the inventory, sales channels, and customer reach of today’s retail businesses. Companies that are running on legacy technology run the risk of falling behind in the hypercompetitive environment of the retail industry. In a study conducted by Capgemini in October 2019, retailers stated that 22 percent of their retail stores are automated and is expected to increase to 38 percent this year (1).
Benefits of Retail Automation
Traditional manual processes are not enough anymore to stay relevant in the increasingly digitized retail space. More retailers are turning to automation and are enjoying economical benefits by integrating machine learning into their processes:
- Decreased Labor Expenses
Automation of repetitive tasks removes the need for employees to constantly monitor processes, resulting in fewer turnovers and lower onboarding and training costs.
- Optimal Operational Efficiency
With automation, tasks gets completed faster and more accurately, ensuring consistent results every time.
- Excellent Customer Experience
Employees can now focus on highly relevant tasks that address the needs of customers, allowing them to provide excellent customer support.
- Increased Sales
Automation allows retailers to improve their online presence, opening up another channel to increase sales.
- Improved Safety
Through automation, sensitive business information is protected. Fraudulent activities and theft can also be detected faster.
- Reduced Human Error
Employees can easily make mistakes when distracted or tired. Automation prevents inaccuracies in data entry and communication.
How Can TaskUs Help?
Automation is the future of the modern shopping experience. However, the accuracy of automation technology lies in the quality of the AI training data. Without a proper set of training data, seamless integration into retail processes is not possible. TaskUs’s deep expertise in the retail industry allows Us to provide the human capital and operational excellence to help retailers scale and optimize training data programs including:
- Intent Detection/ Text Collection for Customer Support Chatbots,
- Text Classification/ Image Annotation for eCommerce Product Categorization,
- Search Relevance for Product Recommendation Systems, and
- Text Classification for Product Review Sentiment Analysis.
For an even deeper look at how we optimize training data, download our AI Services for the Retail Industry two-pager.