Retailers using artificial intelligence (AI) and machine learning (ML) technologies performed better than their competitors. Both in 2023 and 2024, retail companies using this kind of technologies saw a two-digit growth of their sales compared to the respective previous years. Similarly, their annual profit grew by roughly eight percent, outperforming retailers who did not use AI or ML solutions.
Impact of artificial intelligence (AI) and machine learning (ML) use on retail performance between 2022 and 2024
The source took into consideration AI/ML use in 11 categories of software:(Forecasting, Order Management, Order Fulfillment, Supply Chain/WHS Management, Merchandise Allocation, Pricing/Promotions, BI/Analytics, Loss Prevention, Sales & Mktg, HR/WFM/App Dev/Customer Service, Other).
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
IHL Group. (December 14, 2023). Impact of artificial intelligence (AI) and machine learning (ML) use on retail performance between 2022 and 2024 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1453198/ai-and-ml-impact-on-retail-performance/
IHL Group. "Impact of artificial intelligence (AI) and machine learning (ML) use on retail performance between 2022 and 2024." Chart. December 14, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1453198/ai-and-ml-impact-on-retail-performance/
IHL Group. (2023). Impact of artificial intelligence (AI) and machine learning (ML) use on retail performance between 2022 and 2024. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1453198/ai-and-ml-impact-on-retail-performance/
IHL Group. "Impact of Artificial Intelligence (Ai) and Machine Learning (Ml) Use on Retail Performance between 2022 and 2024." Statista, Statista Inc., 14 Dec 2023, https://www.statista.com/statistics/1453198/ai-and-ml-impact-on-retail-performance/
IHL Group, Impact of artificial intelligence (AI) and machine learning (ML) use on retail performance between 2022 and 2024 Statista, https://www.statista.com/statistics/1453198/ai-and-ml-impact-on-retail-performance/ (last visited November 21, 2024)
Impact of artificial intelligence (AI) and machine learning (ML) use on retail performance between 2022 and 2024 [Graph], IHL Group, December 14, 2023. [Online]. Available: https://www.statista.com/statistics/1453198/ai-and-ml-impact-on-retail-performance/
