Innovation of the Week is a subscriber-only series highlighting retail initiatives that have caught the eye of our team. Every week, we will bring you new ideas and case studies that link to the trends in our Retail Horizon 2024 reports – across consumer, technology, sustainability and industry, economy and policy.
What is it?
L’Oréal has introduced Lore, an AI-powered beauty assistant that uses hyper-personalised, natural-language communication to improve the customer experience.
Lore makes tailored product recommendations, advises customers on beauty products that meet their individual needs and redirects them online or within social media apps to find the relevant items.
Why does it matter?
Lore takes customer interactions beyond standard bots to the next level. The conversational platform integrates Open AI innovations and can understand written and spoken conversations in multiple languages with remarkable fluency.
At the core of the Lore solution is conversational AI platform Eva, developed by NTT Data, which partnered with L’Oréal on the project.
“With this new technology, we will better understand our consumers and provide them with superior service, since Lore can hold a fluid conversation just like a person and can advise them on the best products, reducing the margin of error. This is the starting point for a solution that will evolve”
Arturo Pérez-Wong, general manager of CPD CERAN, L’Oréal Chile
Strategic implications
AI will continue to disrupt the norm in customer experience and improve brand interactions to become more relevant and personalised. As solutions continue to evolve, more retailers will invest in AI technology.
Winning strategies
- AI for improved productivity and engagement
- Elevated customer experience
Retail Horizon 2024 is Retail Week’s exclusive strategic toolkit for subscribers.
Across four in-depth reports, Retail Week research director Lisa Byfield-Green and our team of analysts explore the most significant trends that will shape the sector in the year ahead across consumer, technology, sustainability and industry, economy and policy.
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