Retailers are shelving planned store technology investment to prioritise AI, according to research from Pricer.

A survey of over 100 senior UK retailers revealed that 67% plan to invest in AI at the expense of existing road mapped technologies within the store. The aim here is to improve operations and create efficiencies to mitigate against rising costs facing their organisations. 

Pricing automation and AI for customer service in-store were the top types of AI that 59% retailers plan to invest in over other technologies, according to Pricer’s research. This was followed by shelf-edge AI cameras (53%) and AI powered in-store content (47%). 

With 43% of retailers saying that extracting data and insights from in-store technology investments to drive future performance is one of their top challenges, this is also prompting retail businesses to turn to complementary solutions at the shelf-edge to deliver data to power AI within the store.

47% of retailers are considering combining electronic shelf labels (ESLs) with automation to capture data across inventory and fraud detection, followed by customer engagement (45%) and loss prevention (42%).

Peter Ward, UK Country Manager at Pricer, comments: As retailers look to power their in-store operations with AI, increasingly we’re seeing ESLs act as the glue that connects the digital shelf-edge.  Their power lies in unifying in-store technology investments, helping retailers effectively drive greater levels of efficiency, labour productivity and CX, all whilst allowing AI to ingest data to power even great performance and ROI.”