Do you have junior high school children
or high school kids? If not, you may not
know what ChatGPT is. According to Steven Johnson Grocerant Guru®
at Tacoma, WA based Foodservice
Solutions®, ChatGPT is a ChatGPT is a “natural language processing tool driven
by AI technology that allows you
to have human-like conversations and much more with a chatbot. The language
model can answer questions, and assist you with tasks such as composing emails,
essays, and code.” Simply put your kids can ask it a question using their
own voice and it gives them the answer.
While
junior high, high school, and college students are using ChatGPT to write
papers, get answers to test questions, the rest of us are trying to figure a
way to leverage this technology to help customers while saving our companies
money.
A new survey indicates that grocers are
jumping on the AI trend and ChatGPT.
A new survey of grocery retailers indicates that grocers are ready and willing
to experiment with ChatGPT, the chatbot AI technology being rapidly adopted
across many industries and companies.
So, the survey, is from grocery data
company Grocery Doppio, insights firm Incisiv,
and digital commerce and fulfillment solutions Wynshop,
polled grocery industry executives, shoppers, and additionally pulled in
shopping data.
In addition to asking about AI in
grocery, the survey further touched on digital basket size increase and decline
of third-party share of sales.
Key findings from February’s “State of
Digital Grocery Performance Scorecard” include:
·
67% of grocers say they have discussed
ChatGPT at senior level meetings
·
82% of grocers consider AI a necessity to
remain competitive in the future
·
59% of grocers will test an AI solution
in 2023, while 13% will spend non-budgeted funds to do so
Grocers believe that AI will have the
greatest impact on inventory forecasting, supply chain management, and
pricing/promotions, while ChatGPT/large language models will affect customer
service, product discovery, and store associate tools.
Yes, there is more, additional highlights
include:
Digital basket size grew, even as
digital’s share of market slipped
·
Compared to February 2022, digital basket
size grew 47.2%, representing an average of 5 items more
·
Digital sales saw 2.1% growth from $9.6
to $9.8 billion between February 2022 and February 2023, but digital’s share of
the total grocery market slipped from November 2022’s high of 17.1% to just
13.8% in February
Third-party providers continue to lose
market share
·
Grocery sales through third parties fell
to $1.8 billion in February 2023, down from $2.7 billion in February 2022 and
$1.9 billion in January 2023
·
The balance of digital grocery sales were
taken by grocers’ apps (5.9%), and grocers' websites (75.8%)
Share of grocery pickup sales continues
to rise
·
Curbside/pickup sales grew by 8.3% from
February 2022 to February 2023, rising from $4.8 billion to 5.2 billion, YOY
Gaurav Pant, chief insights officer of
both Incisiv and Grocery Doppio, stated, “ChatGPT has taken the world by storm,
and grocers are no exception,” ... “Grocers acknowledge they need advanced
analytics and AI and are willing to experiment and invest in building those
capabilities. Those that focus on high-impact use cases like inventory
optimization or can figure out a better search and recommendation experience
using LLMs have a chance to leapfrog their peers.”
For
international corporate presentations, regional chain presentations,
educational forums, or keynotes contact: Steven Johnson Grocerant Guru® at Tacoma, WA based
Foodservice Solutions. His extensive
experience as a multi-unit restaurant operator, consultant, brand / product
positioning expert, and public speaking will leave success clues for all. For
more information visit GrocerantGuru.com, FoodserviceSolutions.US or call
1-253-759-7869
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