Hong Kong malls, retailers tap into AI analytics to get smarter after losing US$16 billion of sales in post-2018 industry slump
- Artificial intelligence or AI is increasingly being viewed as a necessity to improve efficiency, revenue and user experience, EternityX says
- More than US$16 billion of retail sales have been lost since 2018 due to anti-government protests and ongoing Covid-19 outbreaks
Hong Kong mall owners and retailers are increasingly using artificial intelligence (AI) analytics to find out more about shopping habits and preferences of their customers, a tool that is likely to help them revive sales after years of industry slump.
Mall operators have struggled in the downturn through anti-government protests and the onset of Covid-19 pandemic, as physical traffic dwindled and consumers turned to online shopping for daily needs and luxury purchases.
Many have found AI a necessity to elevate user experience, according to Charlene Ree, chief executive officer of EternityX.
“We have observed numerous cases of retailers leveraging AI analytics for CRM (customer relationship management),” said Ree, founder of the marketing technology platform that uses AI to connect regional and international brands with the Chinese market. “AI technology allows us to know our audience better than ever before.”
02:24
Foreigners in China join army of online live-streamers to sell Chinese products around the world