Opportunities for Fashion Retailers to Innovate & Excel

This article starts with the talk about the transformative change in the fashion industry –how the customers are not limited to their local stores anymore. The blend of technology and Modern fashion has widened the reach of brands to cater customers from remotest areas. In the first half, it explores the opportunities for fashion retailers to generate leads, acquire sales and drive more value to the business utilizing Artificial Intelligence, NLP & Bot technology with extended digital presence.

The second half explores how fashion industries by leveraging natural language processing and Generative AI technology from Open.AI can automate and streamline their business operations. The article also suggests a solution that combines powerful NLP technologies like IBM Watson, Microsoft CLU, Copilot, Power Virtual Agents, Google DialogFlow, Amazon Lex, and Open.AI’s GPT to help companies increase their market share, improve customer satisfaction, and operate more efficiently and cost-effectively.

Social media has a profound impact on the fashion retail industry by changing the way people discover, research, and purchase clothing and accessories. Now social media has transformed the way people shop for fashion. It has made it easier for customers to browse and purchase products directly from social media platforms, such as Instagram Shopping and Facebook Marketplace. Customers are transitioning to e-commerce.

A recent study by TechCrunch states that there has been a 40% surge in social media traffic. Similarly, a survey by GlobalWebIndex found that 54% of consumers use social media to research products, and 37% follow fashion brands on social media to make purchases.

Customer behavior transformed significantly, imposing enterprises to revamp their working methodology and modify their customer interaction strategies. So, retailers must serve their customers by extending their presence to social media channels like Facebook Messenger, WhatsApp,Telegram, etc to keep their brand ahead in the competition. But manning all such channels is not a viable solution. Thus, to provide a consistent & personalized shopping experience, Retail fashion chatbots powered by Natural Language Processing (NLP) and Artificial Intelligence, that can be extended to newer platforms and channels have become a need of an hour.

When someone enters a fashion retail store, a common practice is to be cordially greeted by an employee who inquiries about one’s needs. This action contributes to a positive customer experience, fostering a seamless journey for them. With the rise of online retail, it has become equally crucial to have an online assistant to provide guidance through the e-store similar to a physical store. This is where Conversational AI comes in, as it is necessary to have a secure, scalable, and interactive conversational interface on websites, mobile apps, and messaging platforms.

Fashion retail chatbots powered by Artificial Intelligence & NLP technology optimally serves both the business and its customers, as it satisfies the customer’s preference for instant responses and allows businesses to handle multiple customer queries simultaneously. Usually, customer service executives have limits on the number of inquiries they can handle per day, while chatbots can work tirelessly. By utilizing fashion retail virtual assistants, businesses can amplify their customer service, allowing their representatives to focus on intricate issues, hence conserving time.

According to a recent study by IMRG & Hive, three-quarters of fashion retailers will invest in AI over the next 24 months. And this trend shows no sign of slowing down.

The advent of GPT platform from Open.AI has completely transformed the way the fashion retail industry operates. ChatGPT is a highly robust language processing tool that has a remarkable ability to understand natural human language and generate written text that closely resembles human speech. Retail fashion chatbots have levelled up consumer interactions with a wide range of features such as tailored product suggestions, streamlined order tracking, and effective customer support.

Chatbots powered by ChatGPT leverage its advanced language processing and generative AI capabilities, allowing them to understand customer inquiries and respond with natural-sounding, human-like language. This ability enables chatbots to address multiple customer queries simultaneously, freeing up human customer service representatives to focus on more complex issues.

At Streebo, our focus is Conversational AI., We have created a pre-trained AI-Powered Retail Fashion Chatbot for Customers. It is backed by powerful NLP engines such as IBM Watson, Amazon Lex from AWS, Google Dialog from GCP, Microsoft CLU, Copilot, Power Virtual Agents, Wit.AI from Meta and now GPT from Open.AI. In the latest release, we have broadened our range of services by incorporating ChatGPT capabilities from Open.AI, which has made our unique solution more powerful, robust & studded. Formerly, our chatbots powered by industry leading NLP engines delivered seamless customer experience but with a limited set of fixed responses. But with integration of Generative AI technology, now our retail fashion cognitive assistants are more advanced and have levelled up customer interactions by generating more natural and dynamic responses.

Our highly intuitive retail fashion virtual assistants can easily adapt customer interactions on any channel of customer’s choice – web, mobile app, and social media channels like Facebook Messenger, Google Chat, WhatsApp, WeChat, Telegram, Signal and voice-enabled platforms like Google Home, Amazon Alexa. It can be embedded in WebSphere Commerce, ATG Dynamo, or any other retail platform. By staffing eCommerce Stores with these 24X7 available Intelligent Bots, Fashion Retail companies can improve customer satisfaction, thus reducing their call center costs as well.

Additionally, due to the advanced generative AI technology from Open.AI, our chatbots can now smoothly transition between topics during a conversation. This is possible because of the powerful GPT platform and superior NLP engines, which enable Streebot to serve prospects, customers, and employees in various use cases. Consequently, companies gain an edge over their competitors, leading to a competitive advantage.

The Fashion industry is rapidly growing market with evolving customer demands. AI Fashion Bots can be an incredible tool to enhance the shopping experience and improve customer engagement, which can lead to increased sales and revenue. With AI powered virtual assistants on Fashion portals, the companies can provide faster service with 24/7 customer support, which is critical to achieve in such a crowded and fast-moving industry. Additionally, AI chatbots can help fashion brands manage their inventory more efficiently, reduce costs, and streamline their overall business operations. They can be an incredibly useful tool for fashion brands looking to stay competitive and provide a modern shopping experience for their customers but only if deployed accurately and adopted completely.

Here Streebo’s pre-trained AI-Powered Retail Fashion Chatbots come into play. Our team of experts with deep domain knowledge are dedicated to providing customized solutions that align with customers’ needs and demands with complete precision. Our cutting-edge adoption and implementation methods of chatbots, in collaboration with industry leaders such as IBM Watson, Google DialogFlow, Microsoft CLU, Copilot, Power Virtual Agents, Amazon Lex, and the latest addition of GPT from Open.AI, have revolutionized customer engagement. The integration of the latest version of Generative Pre-trained Transformer technology has remarkably improved the quality of conversations with dynamic responses. Our highly perceptive cognitive solution can seamlessly integrate with diverse platforms including websites, mobile applications, and social media interfaces. It can be accessed through interactive speech and chat interfaces, resulting in an unparalleled chatbot solution that caters to all business-specific requirements with transactional capabilities, increased ROI and higher customer satisfaction.

Thus, if you are looking for a one-shot solution that can expand your business by giving you a competitive edge then Streebo’s pre-trained, cloud-ready solutions are just what you need.