Retailers are expected to deploy AI to improve operational efficiency, help upskill employees and improve job satisfaction
charlotte, north carolina, January 9, 2025 /PRNewswire/ — Honeywell (NASDAQ: HON) today announced the findings of its AI in Retail study. We found that more than 8 in 10 retailers plan to increase the use of automation and artificial intelligence (AI) across their operations to adapt to the retail landscape. Change consumer behavior, improve employee skills, and improve shopper efficiency. 35% of large retailers plan to significantly increase their investment in AI.
In a new AI-focused survey of leading U.S. retailers and holiday shoppers, Honeywell reveals the biggest challenges they face in today’s fast-paced omnichannel environment, including improving returns management and automating customer service. To address this, we find that retailers are increasing their investments in AI. Monitor product availability.
“We are truly in the midst of a new era for retail, where evolving AI capabilities will positively impact shopper buying behavior, employee experience, and retailers’ supply chain operations.” says. david barkerPresident of Honeywell Productivity Solutions and Services. “Retailers looking to operate autonomously are looking for AI and automation solutions that provide actionable data and help upskill their employees.”
Honeywell research confirms that retailers are leveraging AI to upskill employees and improve on-the-job experience, which ultimately translates into expected growth in U.S. retail this year. could help fill more than 580,000 job openings1. Key findings include:
More than half of retail leaders surveyed say AI will improve employee retention, with 52% saying AI will help employees advance their careers, develop soft skills, and stay on the job. We believe that it will be possible to provide value to More than half (6 in 10) of retail executives say AI tools make employees’ jobs easier, and 55% say they improve job satisfaction. This is in line with the retail industry’s growing interest in how employee satisfaction can support a business’s customer experience.
AI is also playing an increasingly important role in improving the customer experience for shoppers, both online and in-person shopping. This not only gives shoppers better access to information and faster transactions, but also provides an easy way to compare prices. Key findings from the Honeywell shopper survey include:
Two-thirds (66%) of consumers surveyed say they use AI while shopping, whether it’s asking questions via a chat bot, comparing product prices across retailers, or compiling customer reviews. reported that they have used it. Comparing prices across stores is by far the most popular use case for AI (53%), followed by checking product availability (41%) and a simpler, more seamless checkout experience (34%). Masu.
To learn more about the research and how Honeywell’s AI solutions are helping shape a new retail era, visit https://automation.honeywell.com/us/en/industries/retail.
methodology
Honeywell commissioned Wakefield Research to conduct the Honeywell Retail Executive Study and the Honeywell Retail Consumer Study (collectively referred to as the “Honeywell AI in Retail Study”). These were omnibus surveys of individuals. December 2nd – December 8th, 2024 Use email invitations and online survey formats. The Retail Executives Survey surveyed 100 U.S. executives at the seniority level of vice president or above at retail companies with at least $1 million in annual sales. 100 million dollars. The Retail Consumer Survey surveyed a nationally representative sample of 1,000 U.S. adults ages 18 and older.
About Honeywell
Honeywell is an integrated operating company serving a wide range of industries and regions around the world. Our business is aligned with three powerful megatrends: automation, the future of aviation, and the energy transition, powered by the Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world’s toughest and most complex challenges, delivering practical solutions through our Aerospace Technology, Industrial Automation, Building Automation, and Energy and Sustainability Solutions business segments. and innovation that help make the world smarter and safer. Safer and more sustainable. For more news and information about Honeywell, visit www.honeywell.com/newsroom.
1 www.bls.gov/ooh/sales/retail-sales-workers.htm
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