RetailGPT: AI-driven insights boost shopper understanding from 10% to 45%
RetailGPT, the Generative AI platform bridging digital and physical retail, is setting a new industry benchmark in understanding consumer behaviour.
Leveraging 20 years of experience in delivering data on consumer behaviour, retail technology solutions provider Pathfinder has developed RetalGPT to bridge the industry-wide knowledge gap when it comes to tracking, understanding and predicting the behaviour of shoppers.
Pathfinder, an established retail technology leader, provides technology solutions that enable retailers to enhance customer engagement and drive business success. Pathfinder’s data reveals that most retailers have insights into only 10-15% of their customer base. RetailGPT is set to expand this understanding to 45%.
A leader in AI-driven retail intelligence Sadique Ahmed, CEO of Pathfinder, said: “Our two decades’ worth of data is instrumental in making this happen. Pathfinder has created multiple technology platforms for global brands over the last 20 years, including 30+ airports, and 150+ shopping centres and retailers. These have helped our clients to
better identify what their malls, retail centres and brands need in order to better personalise their offerings to customers. With Retail GPT we are helping businesses take the next steps in customer understanding and personalisation, helping them optimise with a knowledge platform powered by AI.”
Empowering retailers
RetailGPT is designed specifically to bridge brick-and-mortar and e-commerce. The digital platform comprises a smartphone-based app powered by Generative AI, which acts as an extension of the physical store. Its debut is heralded as a game-changer for the retail industry, including malls, stores, restaurants, and supermarkets.
Retail GPT is set to completely redefine the ability to understand the customer journey, spending patterns, behaviour allowing retailers to communicate with customers with unparalleled levels of personalisation.
“Retailers get to choose the products they want their customers to see. They can curate personalised product recommendations for each customer, informed by AI-driven insights on shopping behaviour and preferences,” says Sadique.
“We will personalise every shopper’s digital experience, offering a new level of engagement. Through RetailGPT, retailers can ensure that their stores and products are searchable and make informed decisions based on customer behaviour. For example, they would be able to understand how often a particular customer shops at their store and gain insights into where else that customer might go, or what other products they are interested in. With this information, they can offer exclusive deals to engage and reward them accordingly.”
Future plans
This month, Pathfinder’s listing on NASDAQ goes live, which marks a huge milestone for RetailGPT. The company recently secured $325 million funding from Silver Rock Group to propel the growth of RetailGPT over the next three years, including product development and market expansion.
As RetailGPT prepares for its rollout in the Middle East in early 2025, Pathfinder is calling on retailers to be among the first to leverage powerful insights and take advantage of the opportunity to transform the way they understand and engage with their customers.
Having already signed up Asad Properties in Saudi, Sadique added: “We are looking to get 3 million retailers across the Middle East on board for RetailGPT by 2028, and this also means our current operations will go beyond the UAE, Saudi Arabia, India, and Sri Lanka.”
Last Updated on 1 month by News Desk 1
