boot-up-logo-image

Growth of AI in Retail

  • According to MarketsandMarkets,the global retail analytics market will likely more than double in size during 2015 - 2020, totaling about $5.1 billion at the end of the forecast period.
  • As per a Gartner study, AI solutions employed by retail companies might autonomously manage as high as 85% of all customer interactions.
  • The global AI in retail market size is expected to grow from USD 993.6 million in 2017 to USD 5034.0 million by 2022, at a Compound Annual Growth Rate (CAGR) of 38.3%.

Key retail areas where AI is making big strides

store-footprint-image

Store Footprint

optimisation-staffing-image

Optimization Staffing

product-mix-image

Product Mix Optimization

optimising-the-supply-chain-image

Optimizing the Supply Chain

improved-marketing-image

Improved Marketing and Hiring

Retail Marketers' Artificial Intelligence Applications

based on the 65% of respondents who use AI for marketing purposes, from a survey of 202 retail marketers

infographics

AI can yield more than US$2 trillion in additional GVA in 2035 for the Wholesale and Retail sector — an increase of 36 percent compared with the baseline case.

Accenture AI industry growth full report
Don’t miss this huge opportunity

Benefits of AI in Retail Industry

AI is an essential technology for building the next generation of automated retail experiences.

Creating A Personalized Experience

With AI, every brand can give a more personalized experience to its customers by helping them see and feel how a particular product would fit in their home, virtually try any dress of their choice, and more.

Product Recommendation To Boost Sales

Machine Learning, an integral part of AI, benefits the retailer by boosting his sales. By studying user behavior, AI can help retailers offer a more individualized set of products to customers.

Monitoring the Stock

With AI, brands can monitor stock inventory and automatically place inventory replenishment orders, resulting in a seamless shopping experience.

How BootUP helps

OUR SERVICES & PACKAGES

The power of AI in retail is evident in the ability to use this intelligent technology throughout the customer’s shopping journey and tap user insights at an individual level.

STARTUPS

CAPITAL

TECHNOLOGY SUPPORT

EXPERT VISION

SUCCESS

BUILD PHASE

INFRASTRUCTURE
CAPITAL MATCH
  • Development, support and colocation services
  • A global on-demand eveloper network
  • Pan-global office space availability

Matching your first $50,000 investment with equivalent seed fund amount, in return for an equity stake in your business

GROWTH PHASE

NETWORKING EVENTS
  • Connecting startups with enterprises
  • Connecting startups with VCs and private equity investors
vector-smart

Read our report on AI trends in Retail

AI offers unprecedented profitability opportunities. For the Wholesale and Retail sector, this can lead to a profit increase of almost 60 percent — from $17 to $27 for every $100 of revenue

standford-png
volkswagen-png
verizon-png
starhub-png
myntra-png
wsp-png

Get in touch


Contact us

68 Willow Rd, Menlo Park

CA 94025, USA

+1 (800) 493-1945