The Rest Is Money 139. Why Shopping Will Never Be The Same Again
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Feb 17, 2025 Kate Ancketill, a retail consultant and CEO of GDR, dives into the future of shopping driven by AI. She discusses how every click and cursor movement is analyzed to shape our buying habits. The conversation highlights the role of AI assistants and celebrity avatars in consumer engagement. Ancketill also addresses the challenges retailers face, from tackling theft to adapting to low consumer confidence, while underscoring the need for innovative strategies in a rapidly evolving retail landscape.
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AI Adoption in Business
- AI is being adopted in business, but there's fatigue and fear around it.
- Kate Ancketill focuses on the exciting consumer-facing applications of AI.
Retailers Using AI
- Zalando uses ChatGPT as a stylist, increasing basket additions and click-through rates.
- Psyche AI personalizes product suggestions based on cursor movements and psychographic profiles.
UK Retailers and AI Adoption
- UK retailers are cautious about AI adoption due to legal concerns.
- This cautious approach may hinder the UK's competitiveness and productivity.