UK Retailers Prioritise AI Over Planned Technology Investments, Study Finds
Over two thirds (67%) of retailers in the UK are prioritising AI over planned store technology investments, the latest research from Pricer has revealed.
Retailers are adopting AI rapidly, with one in six UK businesses already having implemented at least one AI solution to help improve operations and create efficiencies to mitigate cost increases.
Retail leaders believe AI to be the top technology that will unlock growth in 2025, according to a recent poll from the Retail Technology Show involving 2,000 respondents.
The adoption of AI is also becoming widespread among consumers, with almost half (45%) of UK consumers already using AI from day to day, according to Retail Focus magazine. This figure rises to 79% among members of Gen Z.
Moreover, a Capgemini poll revealed that 71% of consumers now want AI to be integrated into their purchasing experiences.
Investment Plans
The Pricer survey revealed that pricing automation and AI for customer service in store were the top types of AI in which 59% of retailers plan to invest.
These were followed by shelf edge AI cameras (53%) and AI-powered in-store content (47%).
As one of their top challenges, 43% of retailers identified the process of extracting data and insights from in-store technology investments to drive future performance.
As a result, retail businesses are being prompted to turn to complementary solutions at the shelf edge to deliver data to power AI within the store.
Almost half (47%) of retailers are considering combining electronic shelf labels (ESLs) with automation to capture data across inventory and fraud detection, followed by customer engagement (45%) and loss prevention (42%), Pricer added.
Peter Ward, UK country manager at Pricer, commented, “As retailers look to power their in-store operations with AI, increasingly, we’re seeing ESLs act as the glue that connects the digital shelf edge.
“Their power lies in unifying in-store technology investments, helping retailers effectively drive greater levels of efficiency, labour productivity and CX, all whilst allowing AI to ingest data to power even great[er] performance and ROI.”
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