Today’s results further highlight what a turbulent economic year 2022 is proving to be for retailers – and we’re not even at the peak yet. What retail brands mustn’t do, however, is try to coast through these challenges. Amid the UK’s cost-of-living crisis, consumers now expect brands to provide a superior customer experience (CX) that is self-driven, conversational, personalised, and omnichannel.
Collaborative intelligence technologies can enable retail workers and AI to actively enhance each other’s strengths. Machines bring speed, scale, and cost savings, while humans deliver the all-important empathy and judgement throughout the customer journey. Ultimately, these capabilities will be a lifeline for retail businesses facing further economic instability with a recession looming.