Shoppers Embrace Generative AI for Personalized Shopping Experiences
Shoppers are embracing generative AI for a personalized shopping experience. Microsoft's Copilot, now integrated with Curated for You, offers natural language product searches and style advice. Ralph Lauren's 'Ask Ralph' feature is another example of this trend. Retailers like Target are modernizing their infrastructure to support these advancements.
Copilot users can now engage with participating retailers like Revolve, Steve Madden, Tuckernuck, Rent the Runway, and Lulus. They can type in prompts, such as 'What should I wear to a holiday party in NYC?', and receive context-aware, shoppable product curations. This interactive approach is driving higher conversion rates, particularly in electronics and jewelry.
Target has seen an increase in customers using generative AI and is updating its systems to accommodate longer search queries and agent-to-agent communication. Curated for You is appealing to shoppers with its 'visual stories', moving away from traditional ads or product recommendations. Divya Mathur, along with Andrew Mathewson and Paul Sloane, manages the FTGF ClearBridge Emerging Markets Fund, which may be keeping an eye on these developments.
The integration of generative AI in shopping is transforming the consumer experience. With more retailers adopting these technologies, such as Ralph Lauren's 'Ask Ralph' feature, shoppers can expect personalized, interactive, and efficient shopping journeys. The success of Copilot and Curated for You suggests that this trend will continue to grow.
