Salesforce has unveiled data and AI-driven tools at NRF 2024, to boost all aspects of the shopping experience. These innovations, integrated into Commerce Cloud and Marketing Cloud, leverage generative AI to provide real-time insights into customer behavior and preferences, ultimately driving revenue and productivity.
“Companies that leverage their customer's data effectively to build trusted, connected commerce experiences will see stronger customer loyalty and profitability. Every business must focus on driving efficiency and growth with new integrated and AI-powered innovations that enable a faster path to purchase and greater customer satisfaction, ”said Jujhar Singh, EVP & GM, Salesforce Customer 360 Applications and Industries.
At the heart of these retail innovations lies the Einstein 1 Platform, seamlessly connecting with retail and shopper data. This platform ensures secure integration with large language models (LLMs), guaranteeing real-time context, brand voice consistency, and robust data governance.
Speaking of retail, last year Salesforce unveiled two new generative AI products - Marketing GPT and Commerce GPT, enabling brands to provide personalized shopping experiences and offers.
The impact of AI on retail efficiency
According to Salesforce data, 83% of global retailers have witnessed operational efficiency improvements with AI. Moreover, 63% of marketers highlight the significance of trusted customer data in implementing generative AI in their businesses. Recognizing these trends, Salesforce aims to provide a comprehensive solution, consolidating customer data into a single, trusted platform to drive efficient, AI-driven retail experiences.
Einstein copilot for shoppers
Einstein Copilot for Shoppers emerges as a powerful generative AI assistant, fostering personalized interactions with shoppers. Streamlining seamless natural language interactions, it expedites product discovery and accelerates the purchase process across digital storefronts and messaging apps. For instance, leveraging insights derived from a shopper's location, preferences, and historical purchases, Einstein Copilot for Shoppers excels in recommending tailored camping supplies for an upcoming trip, showcasing the potential of AI to enhance the shopping experience with targeted and contextually relevant suggestions.
For retail merchandisers
Page Designer transforms the landscape of e-commerce by leveraging generative AI-powered prompts, enabling the swift and efficient design and customization of e-commerce sites and pages.
Moreover, Return Insights in Order Management employs advanced analytics to scrutinize returns data, offering recommendations for strategic product display adjustments and addressing concerns raised in product reviews. Inventory Insights delivers real-time visibility into available inventory, facilitating effective inventory management.
Additionally, Customer and Product Insights harnesses data from diverse clouds to create vivid visualizations of trends and demographics, enriching the fabric of targeted commerce experiences with valuable insights.
For retail marketers
One of the solutions for marketers is Global Promotion Management, which revolutionizes customer marketing and promotions by seamlessly integrating data with predictive insights, providing a perspective to forecast potential promotion revenue.
In addition, Referral Marketing is a strategic tool, facilitating the launch of referral programs and elevating conversion rates through pre-built templates and AI tools adept at identifying potential participants. Segment Creation takes targeting and personalization to new heights, leveraging generative AI prompts for the rapid formation of tailored segments.
Meanwhile, Content Creation enables marketers to overcome content bottlenecks with generative AI prompts that effortlessly generate personalized visual content and compelling copy.
In addition to the commerce and marketing AI innovations, Salesforce announced solutions addressing theft, media networks, employee productivity, and real estate. These solutions aim to streamline operations and create new revenue streams for retailers.
While some innovations are already available, others are in pilot phases and set to be generally available in the coming months.
