Artificial Intelligence and IoT in Retail Marketing: Innovations in Smart Stores and Personalized Shopping

Abstract

A fast-expanding technological trend predicted to transform several sectors, including the retail sector, is the rise of the Internet of Things (IoT) and artificial intelligence. Immediately, personalized, and user-friendly contact with consumers may be facilitated by sensors, increasing traffic and improving the buying process. AI and IoT may also improve connections and provide the groundwork for digital management stores and more successful retail enterprises. Multi-channel experiences at all touchpoints are expected by tech-savvy consumers, and geographically based invention in retail enhances the buying procedure. This study examines popular uses of AI and IoT as well as strategies for effective advertising in retail from the viewpoints of suppliers, retailers, and consumers. It suggests a scenario that illustrates how IoT may be used to improve company outcomes and acquire an edge over conventional retail methods. Innovations and strategies for firms to get a marketplace edge are also covered in the paper, especially in the area of mobile instruments, which are probably going to be the most important component in the advancement of the advanced economic system in several years to come.