Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 3rd International Conference on Business and Policy Studies
Series Vol. 71 , 18 January 2024
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The Influence of Artificial Intelligence on Retail Marketing
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Abstract
The incorporation of Artificial Intelligence (AI) into the realm of retail marketing signifies a significant and transformative change within the sector. This paper provides a thorough examination of the rising role of AI in the field of retail marketing, highlighting its transformative impact on customer engagement and operational effectiveness. Through a methodical examination of research articles and industry reports, the paper has discovered the diverse impact of AI on various aspects of the retail business. These include data-driven decision-making, insights into customer behavior, the enhancement of omnichannel experiences, as well as the optimization of inventory and pricing strategies. Furthermore, the paper examines the significant obstacles that AI implementation in the retail industry encounters, encompassing concerns related to data protection, financial constraints, and the ever-changing legal and ethical environment. The continuous progress of AI technology is leading to a growing recognition of its capacity to revolutionize retail marketing. This trend highlights the significance of integrating AI into retail operations, as it is no longer merely a strategic option but a necessary requirement for achieving success and maintaining a competitive edge in the industry.
Keywords
Artificial Intelligence, Retail Marketing, Data-Driven Decision-Making, Customer Behavior Analysis
References
1. Chintalapati S., Pandey S.K. (2021). Artificial intelligence in marketing: A systematic literature review. International Journal of Market Research, Volume(Issue).
2. Verma, S., Sharma, R., Deb, S., & Maitra, D. (2021). Artificial Intelligence in Marketing: Systematic Review and future research direction. International Journal of Information Management Data Insights.
3. Heins C. (2023). Artificial intelligence in retail – a systematic literature review. Foresight, 25(2), 264-286.
4. Oosthuizem K., Botha E., Robertson J., Montecchi M., (2020). Artificial Intelligence in Retail: The AI-Enabled Value Chain, Sage Journals, Volume 29, Issue 3.
5. Haleem A., Jovaid M., Qadri M.A., Singh R.P. & Suman R. (2022). Artificial intelligence (AI) applications for marketing: A literature-based study. International Journal of Intelligent Networks, 116.
6. Kopalle P.K., Gangwar M., Kaplan A., Ramachandran D., Reinartz W., Rindfleisch A., (2021). Examining artificial intelligence (AI) technologies in marketing via a systematic literature review. International Journal of Research in Marketing, 232.
7. Anshari M., Almunawar M.N., Lim S.A., & Al-Mudimigh A. (2018). Technological disruptions in Services: Lessons from retail banking. Technological Forecasting and Social Change, 126, 271-283.
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 3rd International Conference on Business and Policy Studies
- ISBN (Print)
- 978-1-83558-281-7
- ISBN (Online)
- 978-1-83558-282-4
- Published Date
- 18 January 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/71/20241443
- Copyright
- 18 January 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited