Retailers plan to use AI in 2025 for...
The vast majority of retailers plan to increase their use of automation and artificial intelligence in the new year.
Eight-in-10 retailers plan to expand their use of these technologies in 2025, with 35% of major retailers stating they plan to “significantly increase” their AI investment, according to a new survey from Honeywell. The top-three areas retailers say they plan to invest in over the next year are improving returns management (36%), automating customer service (35%) and monitoring product availability (32%).
More than half of the surveyed retail leaders said that AI improves employee retention, and 52% believe AI can help employees progress more quickly in their careers, expand their soft skills and continuously provide value to their jobs. Six-in-10 retail executives surveyed said that AI tools make the job easier for employees, while 55% said they increase job satisfaction.
"We are truly in the midst of a new era for the retail sector where evolving AI capabilities will make a positive impact on the shopper's journey, the employee experience and the retailer's supply chain operation," said David Barker, president of Honeywell Productivity Solutions and Services. "On their journey toward autonomous operations, retailers are looking for AI and automation solutions that provide actionable data and help to upskill their employees."
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While retailers plan to expand their use of AI, consumers say they are eager to utilize it to improve their shopping experience. More than two-thirds (68%) of surveyed consumers reported that they have used AI while shopping, whether to ask a question via a chat bot, compare prices for an item across retailers, or summarize customer reviews. Comparing prices across stores is by far the most sought-after use case for AI (53%) followed by checking product availability (41%) and having a simpler and more seamless checkout experience (34%).
Honeywell commissioned Wakefield Research to conduct the Honeywell AI in Retail Survey. It polled 100 U.S. executives with a minimum seniority of VP at retail companies with a minimum annual revenue of $100 million, along with 1,000 nationally representative U.S. adults ages 18+.
