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Combat the Crisis A
Transforming the retail experience
Arun Bhatoye, head of marketing at Hisense UK, highlights the support businesses can provide consumers amidst the challenging cost-of-living crisis.
s the cost-of-living crisis continues to pinch consumer incomes, businesses are having to adapt to a shift in buying habits.
The science shaping retail strategies With recent advancements, AI can help retailers quickly analyse information at a scale that previously was not possible. For example, AI-powered chatbots can provide personalised customer service to shoppers 24/7, helping to improve customer satisfaction and increase conversions. Similarly, CGI enables brands to scale image creation significantly faster and at a fraction of the cost of traditional photography. This results in more powerful and personalised shopping experiences optimised to convert at a higher rate. A recent study by Coresight Research found that 40% of brands and
retailers are already investing in CGI technology, with an additional 58% planning to invest in the near future. Furthermore, 60% of brands and retailers plan to invest in AI to automate their visual product content.
Consumers are looking for energy-efficient, cost-efficient products, and it is the responsibility of the business to make their customers aware of which products fit these criteria. Arun Bhatoye, head of marketing at Hisense UK, says “Here at Hisense, we have always championed manufacturing products that are affordable yet high- quality, and this is more important than ever as we head towards the winter months amidst a national cost-of-living crisis. Right now, it is our number one priority to help the nation to understand how to best use their appliances to continue with their necessary household chores and reduce their bills as much as possible.” Founded over 50 years ago, Hisense is one of the world’s leading manufacturers of televisions and home appliances. Hisense has a core range of televisions and cooling appliances alongside a portfolio of cooking and laundry products featuring hobs, hoods, ovens, dishwashers and washing machines. Educating the consumer Bhatoye says “As energy bills soar to an all-time high, monitoring our gas and electricity usage has never been more important, and so consumers are looking for alternative solutions to cut down on their energy usage – and in turn, their energy bills. This doesn’t mean that consumers aren’t buying, but the path to purchase is much more considered. Customers
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The retail industry is constantly evolving, with many brands turning to AI and other innovative technologies to stay ahead of the game. While these solutions can certainly enhance the shopping experience, it is important not to lose sight of the importance of human creativity. The most successful retailers will find a way to strike a balance between technology and the human element, creating a shopping experience that truly resonates with customers. Alexandre de Vigan, founder and CEO of Nfinite, highlights how blending the art and science of retail can create an immersive and engaging experience for customers.
look to invest in appliances that achieve the best results whilst using the least amount of energy, to help with cutting down bills. During the cost-of-living crisis, retailers and suppliers should be looking at ways in which they can help educate and inform their customers on the best appliances for their individual needs, and support them as much as possible to find the most cost-effective solution. Here at Hisense, energy efficiency has played a large role in product development as we look to new launches in future years. “It’s likely that any appliance which doesn’t need to be switched on for a long amount of time during usage, for example a microwave or toaster is the most efficient small appliance, as it only uses energy whilst it is switched on. It’s also very much dependent on usage – every household is different and has different needs. For example, single-person households may have a large capacity oven and batch cook to make the most of their oven being turned on, whilst larger families might opt for a larger capacity washing machine to bundle loads together. Generally speaking, tumble dryers tend to be the most expensive appliance to run, so switching up this part of your laundry routine to drying your clothes on a traditional clothes horse or drying rack is an easy way to help cut down your energy bills. Of course, defining what the most expensive appliance to run will ultimately come down to usage habits. If you have a larger household, it’s likely to be more cost-effective to invest in a larger capacity washing machine, so that you can fit more clothes in one load,
These figures highlight the growing importance of technology in retail and the role that CGI and AI play in shaping the industry’s future.
Combining the art of retail Brands that develop compelling imagery, innovative product lines, and daring collaborations designed to evoke an emotional response will ultimately win long-term customer loyalty. Take Nike, for example; by associating their shoes with top athletes, developing bold new shoe designs, and promoting their products in innovative ways, they have made a shoe represent an entire lifestyle and made millions of sports fans feel like they, too, can Just Do It. Nike’s incredible branding comes from years of creative thinking and aligning with the right celebrities and athletes. AI won’t replace that type of brand creation work any time soon.
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