Charting the AI-Driven Transformation in Grocery

Our AI-Driven Transformation in Grocery not only includes forecasts, but best practices, some case study examples and key insights for which areas of the income statement will be most impacted by AI.

The transformation of the grocery industry is no longer a future concept; it is happening now. With the convergence of technology, data, and the evolving needs of consumers, the industry is at the brink of a revolution, and artificial intelligence (AI) and machine learning (ML) are at the core of this change.

Today, the traditional grocery basket is no longer a mere tool for carrying products from aisle to checkout. It has become a symbol of a sophisticated, interconnected system that crosses channels from in-store to mobile to pure e-commerce. While the pandemic radically changed consumer preferences for fulfillment, AI-driven technologies are now paving the way for improved efficiency, personalized shopping experiences, and optimized delivery of those products to consumers.

This study forecasts that impact for these different AI tools in the grocery segment. We practically look at the data first as potential sales increases. Next, we look at the potential for greater efficiencies and lower product costs. Finally, we review the potential impact to grocers in lowering sales and general administrative expenses.

Included are also some case examples and recommendations.

This is part of several AI product that IHL has recently released.

For access to the complete AI Forecast Model from which this data is derived, click here  

For access to the detailed AI Readiness Index that ranks retailers by AI Readiness and potential financial impact specifically, click here.