Predicting Consumer Trends: How AI Forecasts Shopping Behaviors

From chatbots to inventory management, the use of AI in retail continues to grow, but how can brands use AI to understand the desires of shoppers? In a recent guest post with Consumer Goods Technology, Gopal Tadiparthi, Head of ML/AI at Insite AI discusses how AI-driven insights can uncover what consumers want today and what they will be buying tomorrow.

CPGs (Consumer Packaged Goods companies) have access to extensive shopper data from their own sources, third-party panels, macroeconomic reports, social listening insights, and retailer purchasing and loyalty data. AI can analyze this wealth of information to deliver strategic findings on shopper behavior. By leveraging AI, brands can enhance customer segmentation, forecast future shopping behaviors, personalize shopping experiences, conduct sentiment analysis, predict customer churn, and map customer journeys. These capabilities allow brands to optimize their marketing, sales strategies, and product assortments, ultimately leading to improved performance and stronger collaborations with retailer partners.

Key Points:

  • AI and platforms like Walmart Luminate are revolutionizing shopper research by providing deep insights into consumer behaviors.
  • Brands can uncover data on BOPIS usage, brand-switching, pricing, and promotions to predict future shopping trends.
  • CPGs have access to extensive data sources, which AI can analyze to deliver strategic findings on shopper behavior.
  • AI helps brands enhance customer segmentation, personalize shopping experiences, and conduct sentiment analysis.
  • Leveraging AI in shopper research allows brands to optimize marketing strategies, improve product performance, and strengthen retailer collaborations.