Collision 2022 Insights
Inspired by Walmart’s Global CTO Suresh Kumar
In today’s business world, any company, big or small, needs to focus on its connection with the customers. In today’s apocalyptic world, having strong brand values and delivering on them is the only way to keep the bond between the brand and its loyal customers. And, in the current technology-driven marketplace, it’s more important than ever to leverage technology in retail to meet and exceed your customer expectations.
At Collision Toronto 2022, Walmart Global CTO Suresh Kumar spoke about how technology is helping the company deliver on its brand promise. Technology has always been a big part of Walmart’s success. From its early days as a small discount retailer in Arkansas to its current state as a global retail giant, Walmart has always used technology in shopping to improve its operations and provide a better shopping experience for its customers.
According to Kumar, technology has allowed Walmart to offer customers access to products, wider choice of brands and items, and more efficiency in terms of time and effort.
Walmart’s technology has allowed offering customers the ability to buy online and pick up their orders in-store. This is a great convenience for customers who may not have the time or ability to go to a physical store.
Technology has allowed Walmart to offer a huge variety of brands and products on its website. This means that customers can find exactly what they need when they need it.
Walmart has developed an app that allows staff members to easily find anything they need. This saves time and makes it easier for customers to get what they need.
Additionally, there are apps that run supply and demand simulations and merchandise flow so that customers might enjoy full product avails everywhere, on time.
Use of Information System in Retail
As the world’s largest retailer, Walmart has long been a leader in using information technology to improve its operations and provide a better shopping experience for its customers. Its use of information systems dates back to the early days of the company when it used mainframe computers to keep track of inventory and sales data.
Today, Walmart’s information systems are much more sophisticated, but their purpose remains the same: to help the company run its business more efficiently and provide a better shopping experience for its customers.
The use of information systems has been particularly important in the area of retailing. Walmart has been able to use information systems to keep track of inventory, sales, and customer data. This data can then be used to improve the efficiency of operations and the quality of customer service.
Additionally, information systems have allowed Walmart to offer a more personalized shopping experience to their customers, in-store and online. For example, customer data is used to recommend products to customers based on their previous purchases.
Walmart is just one (and great) example of a company that has used information systems to improve its operations and provide a better customer experience. As the use of information systems continues to grow, it is likely that more and more companies will find ways to use them to their advantage.
Influence of Artificial Intelligence in Retail Business
Artificial intelligence is playing an increasingly important role in the retail sector. By analyzing myriads of data particles, automating tasks and processes, AI can help retailers boost efficiency and improve the customer experience.
One area where AI is having a big impact is in retail face recognition. Face recognition technology can be used for a number of purposes, including targeted advertising, customer service, and security.
Walmart is one retailer that is using face recognition technology in its stores. The retailer has installed cameras in its self-checkout lanes that use facial recognition to identify shoppers who have been previously banned for theft. The system alerts staff so they can take appropriate action.
Walmart is also using AI to improve its online shopping experience. The retailer has developed an AI-powered chatbot that helps shoppers find the products they need. The chatbot uses natural language processing to understand customer queries and provide relevant results.
Retail Technology Contributes To Customer Satisfaction
Kumar’s words point to the importance of technology in making a business’s vision a reality. He ended the speech by emphasizing the use of technology, especially in retail tech, and how it’s transforming and personalizing the customer experience to be something extremely powerful.
To sum up, technology has become an integral part of our lives and it helps us connect with the world in more ways than ever before. By using innovative retail technologies, every business can create a more efficient and effective customer service experience, which ultimately leads to satisfied, happy, and loyal customers.