Generative AI for Retail Innovation

Editors: Nupur Arora, Aanchal Aggarwal, Parul Manchanda, Rohit Bansal, Ramakrishna Yanamandra

Generative AI for Retail Innovation

ISBN: 979-8-89881-757-2
eISBN: 979-8-89881-756-5 (Online)

Introduction

Generative AI for Retail Innovation explores how emerging artificial intelligence technologies are reshaping the retail landscape by enabling smarter decision-making, personalized customer experiences, operational efficiency and sustainable business growth. The book focuses on the application of generative AI across retail functions, including marketing, customer engagement, merchandising, pricing, inventory management, supply chain operations, omnichannel retailing and strategic innovation. Readers will gain a comprehensive understanding of how retailers can leverage AI-driven capabilities to create value, enhance competitiveness and address evolving consumer expectations in a rapidly changing digital environment.

The book is organized into fourteen chapters covering foundational concepts, theoretical perspectives, practical applications, industry case studies and future trends in AI-enabled retailing. Topics include AI-powered personalization, conversational commerce, recommendation systems, virtual shopping assistants, demand forecasting, intelligent supply chains, retail analytics, ethical and responsible AI adoption, sustainability, customer experience management and emerging innovations in smart commerce. Contributions from scholars and practitioners provide both academic rigor and real-world insights, offering readers a balanced perspective on the opportunities and challenges associated with implementing generative AI in retail.


Key Features

  • - Interdisciplinary perspectives on AI applications in retail.
  • - Contemporary case studies, practical frameworks, evidence-based research findings and strategic recommendations for leveraging AI in retail environments.
  • - Structured content that integrates theory and practice while highlighting future directions for research and innovation.
  • - References in every chapter.

Target Readership :

Primary Readership: Researchers, academicians, doctoral scholars and postgraduate students in marketing, retail management, business analytics, information systems and artificial intelligence.

Secondary Readership: Retail managers, business leaders, consultants, entrepreneurs, technology professionals, policymakers and industry practitioners seeking to understand and implement AI-driven retail innovations.

Preface

The retail industry stands at the cusp of a revolutionary transformation, propelled by the rapid advancements in Generative Artificial Intelligence (AI). With its unparalleled ability to create personalized content, predict consumer behavior, optimize operations, and redefine customer engagement, generative AI has become a cornerstone of retail innovation. This edited volume, "Generative AI for Retail Innovation," presents a curated collection of scholarly insights and empirical studies that explore the diverse applications, opportunities, and challenges of generative AI in the retail sector.

The chapters in this book address a broad spectrum of themes that reflect the dynamic and evolving role of generative AI in retail. From navigating cultural diversity in AI-driven global marketing to examining the ethical dimensions and opportunities of AI adoption, the book offers critical perspectives on strategic and responsible AI integration. The transformative potential of AI service tools in enhancing customer relationships and loyalty dynamics is discussed through case studies and analytical frameworks.

The role of generative AI in redefining workforce dynamics, particularly in automating and augmenting retail functions, highlights its implications for future workforce strategies. Regional perspectives, such as redefining the retail industry in India through technology integration, add valuable contextual insights to the discourse.

The book delves into the AI-powered transformation of physical retail spaces, exploring how generative AI enhances the in-store shopping experience. Sustainability remains a critical focus, with chapters dedicated to optimizing retail supply chains through AI-driven solutions. Further, the application of generative AI in demand forecasting and inventory management showcases its impact on operational efficiency and agility.

A significant emphasis is placed on personalized customer experiences, driven by AI's capability to analyze vast datasets and generate tailored recommendations. The acceptance of AI-generated content in e-commerce is examined from a consumer behavior perspective, offering insights into trust, engagement, and adoption patterns.

Emerging innovations, such as virtual shopping experiences and augmented reality, powered by generative AI, are explored for their potential to redefine digital retail experiences. The volume also addresses governance challenges and provides an outlook on AI in retail travel, broadening the scope of AI applications within the retail ecosystem.

Bringing together contributions from academia, industry experts, and practitioners, this book serves as a comprehensive resource for understanding the multifaceted impact of generative AI on retail innovation. It is intended for scholars, retail professionals, technology enthusiasts, and policymakers aiming to navigate and leverage AI for sustainable and customer-centric retail growth.

We hope this compilation not only advances academic discourse but also inspires actionable strategies and innovations in the retail industry.

Nupur Arora
School of Business Studies
Vivekananda Institute of Professional Studies-TC
New Delhi, India

Aanchal Aggarwal
Vivekananda Institute of Professional Studies-TC
School of Business Studies
New Delhi, India

Parul Manchanda
Department of Management Studies
Netaji Subhas University of Technology
New Delhi, India

Rohit Bansal
Adjunct Faculty, Department of Management
Rockford College, Sydney
Australia

&

Ramakrishna Yanamandra
School of Business
Horizon University College
Ajman, UAE