AI AND IOT IN RETAIL: ITS IMPACT ON RETAIL VALUE CHAIN & SHOPPERS’ BEHAVIOUR

Retail sector in India has started leveraging new age technologies like AI and IoT resulting in improved efficiency, reduced cost and better customer experience. ML, NLP, Data Science, Computer vision and Conversational AI are widely used AI technologies finding their usage in retail value chain across planning, procurement, production, distribution, operations, customer service, sales and marketing. Similarly, IoT is revolutionizing every aspect of Retail be it inventory management, real time promotions, shelf Management , optimization of store layouts. It is not only retailers but consumers also are using technology like smartphone to augment their shopping experience and make informed decision .The present paper is divided into two part. First part explores various new age technologies like AI and IoT leveraged by retail sector and their usage in retail value chain .Second part includes technology usage by shoppers covering an empirical study on shoppers' behaviour using smartphone in Delhi.