Many of us do online shopping / offline – Showroom purchase, How about having a Smart Shopping Assistant from Bank using AI and Analytics, which can advise us instantly anywhere and anytime 24×7. Customer generally need advice on following

  1. What to Buy? -Choice
  2. When to Buy? – Offer / Holiday Season Sale
  3. Is it worth Buying? – Utility of the Product
  4. How to buy? – Based on Price / Financial Strength of the Buyer

Let’s see some basic Use Case of a Buyer doing Offline Showroom Purchase.

Mr. John wants to Visit an Electronic Showroom nearby his Residence to purchase an SLR Camera.

Smart Shopping Assistant APP:

  • Asks John to select the Product he intends to buy. (Example: SLR Camera)
  • Provides the list of Showroom available nearby his Residence along with Google route map.
  • John selects Shop No.1 and proceeds his travel.

What to Buy from the available Choice:

App provides the SLR camera with different Specification, John selects one from it. (Choice of Specification)

App provides the SLR camera across Brands with price (Choice of Brand & Price)

When to Buy to avail best offer:

App provides an ALERT to John stating the Current Offer prices is not competitive against the forthcoming Christmas Holiday Season Offer, which is 10% more.

App provides an ALERT, if John proceeds to buy, he can avail the Credit Card Offer which is 6% on top of the showroom offer.

The app can provide an ALERT, that SHOP no.2 which is 1 km away is having the same product and the offer is 1% more than the Shop no.1.

Is it worth Buying?:

The app captures the last purchases made by John through online / offline and does an Analysis, that John already bought a similar type of SLR Camera with a lower specification. Suggest him that you already have a camera. Do you really want to buy? Also suggest him, that it was recently bought 4 months back.

App advice John to sell the previous camera in a resale portal or postpone the buying of new SLR camera.

This feature will provide assistant to User, as to whether the product is really useful buy / hint him that already similar product is bought, which may or may not be used. In general, a consumer buys just because to avail the offer but do not use it.

How Do I buy?:

The app can check the Account balance of John and advice if he has sufficient balance to purchase based on a future commitment like EMI, Standing Instructions, Bill Payment.

The app can suggest John to Avail Credit Card offer of Zero % EMI or advice him that he still has a unutilized limit on the credit card, which is cheaper than utilizing his Account balance.

This feature helps John to assess his financial commitment and options, finally whether to buy or not.


Using AI and Analytics, System can advise a customer on Purchase through analyzing Location, Product, Product Specific Offers, Seasonal Offers, Financial commitment/strength of the consumer. This feature can help consumer take an advised decision on purchase, instead of some random purchase, ending up in defaulting EMIs or overshooting his spending limit.

Tags: ,

Karthik Narasimman

Senior Consultant – PMG Group

Company Secretary and Banker, Having over 14 yrs of Retail Banking exp. SME for Retail and Regulatory Compliance for US,UK,Turkey and Africa.

More blogs from Karthik Narasimman

139 thoughts on “Smart Shopping Assistant

  • Good one Karthik.

  • Good read Karthik…. Looks like a customer friendly feature…bank beneficial facilities can be further explored and can be included with the app

  • Wonderful thought and very well written

  • This is a combination of retail analytics with banking, a good one. Another view on this what about consumer privacy?

  • Super Assistant.

  • Nicely visualized and articulated..
    End customer’s experience would be better with the combination of AI & Analytics for shopping..

  • Excellent Blog by Karthik!!!!!

  • Very Informative and useful tips. Neatly and nicely written.

  • Hi, this is truly an informative article, keep posting.

  • Nice thought process. The app should have the capability and tie ups with multiple banks to retrieve complete picture of customer financials (once the customer provides consent for collection of data), so the advise provided to the user in in sync with his/her actual financial condition.

  • Hi Kathik,
    This is a brilliant concept. I think the best feature of this app will be the buying assistance provided as per the financial state of the customer (as linked with the bank).
    If this is implemented correctly, the artificial intelligence can upgrade the shopping experience significantly!

  • This seems to be an interesting product. Whenever we buy something and go to next shop we discover prices are competituve there. This has happened to me many times. If I get an app like this, I wont be cheated.

    Many shopkeepers dont even disclose about forthcoming offers. They just want to clear products asap. With this kind of app, we can our time of purchase as well.

    These days, in product only so many different specifications, features would be there. Probably with this app I can compare features apple to apple.

    My time would be saved and cost too. I would definately love to go for it and suggest my friends too.

  • I use online shopping always. Similar sort of products would be offered by many buyers. Difficult compare. Again so many shopping site are there. Hope this product would relieve my tension. Thanks for Smart Shopping Assistant.

  • Good idea, helps a lot …

  • It is the need of the hour solution for today’s market!

  • Idea of Smart Shopping Assistance is good, with this feature Finacle can have more advantage than other competitor…

  • What, when and how part is really cool. Have bought a SLR camera a year back and I wish there be an app which would have guided me.

  • AI and Analytics have a tremendous potential to influence various spheres of life. Their impact can be truly amplified if they are un-intrusive !

  • Great Article! Well written

  • Nice Reading! Good.

  • A good concept. System replaces numerous advices from different people and streamlines data for enabling better decisions.

  • Informative. Kudos to Karthik

  • Super Karthik.. good to read

  • Really useful article. AI influence is likely to grow in the coming years across sectors, which we cannot even envision.

  • Nice article…… we gonna see such Smart Apps running on cloud using Big Data analytics….. plz add the below wish list to the app….:)
    Display the Discount coupons available on the brands,
    Integrate all major e-commerce websites and tell if the price is right,
    Segregate & Show the reviews and ratings from different webpages on the purchase item,
    virtualize how the purchase item looks like if we actually wear it (clothing trails)

  • App is quite robust and user friendly…

  • Good idea Karthik. It will be nice to get this integrated with finacle and have voice NLP capabilities in the app.

  • Good one Karthik!

  • Very nice article. Congrats

  • It is a very useful application and it will be very heplful to decide how to purchase and you can save money and time at the same time by using this app

  • Nice thought

  • Idea is really good and will increase customer satisfaction

  • Good Idea

  • Automation and AI are the next big things in IT industry. Great Blog on it.

  • Nice App

  • Excellent

  • Nice idea and very much the need of the hour. Kudos to ur thinking and keep up the good work.

  • Very nice karthick

  • nice Karthik

  • Good thought Karthik. As we speak, many of these features are getting developed and tested already. Am sure technologies like AI, Analytics, AR, NFC will surely change the way we shop, change the way we think of shopping! Keep writing.

  • superbbb…

  • Nice one Karthik

  • this is food for thought, however even the ecommerce concept is very localized.. and I do not see that the fundamental rules of doing business are to be avoided here. Great blog. Please keep writing more..

  • Good thought karthik

  • Really worth exploring.

  • Good article Karthik. Keep up the good work

  • Nice work

  • Good Read and Excellent Idea!!

  • Innovative Concept .. Karthik…

  • Excellent Article !!

  • Excellent blog Karthik. 🙂

  • Very Informative

  • Good idea

  • nice

  • nice

  • nice

  • nice

  • cool App , AI rules the way of life 🙂

  • Good read

  • Nice Article

  • Nice One Karthik.

  • Good article Karthik

  • the App seems to combine many useful information and provides the user the best deal available and not just raw Information. Nice One .

  • Nice Thought, answering the common clutter problem of every buyer.

  • Very informative, Great work Karthik!

  • Good one!!

  • Good Idea.

  • Good Idea

  • Good One !!! Suggesting the offers for the same item in previous season or full year will be a good inputs for customers.

  • Nice one Karthik

  • good one Kartik

  • Nice one Karthik:)

  • good one Karthik!!

  • Good article

  • nice idea.

  • Excellent Article Karthik !!

  • very well put up.. If this is taken commercially with more insights on this.. this may definitely be a success!

  • Good article Karthik

  • Nice Concept Explained in A Lucid Manner..

  • Nice Idea and good feature:)

  • Nice Idea and good feature:)

  • Good!!!

  • Good one Karthik.

  • Really useful article

  • soon this could be a reality with the way banks are focusing on customer spend and various integrations with partners

  • Nice idea

  • Good article Karthik

  • Good thought process, Mr. Karthik. With the realm of AI expanding, the next possible extension would be the shops working on identifying facial expression of the customers to offer the price that they ll be tempted to buy.

    Another use case for you?

    Thank You

  • Good thought process, Mr. Karthik. With the realm of AI expanding, the next possible extension would be the shops working on using the facial expression of the customers to offer the price that they ll be tempted to buy.

    Another use case for you?

    Thank You

  • Wow

  • What an idea sirji

  • That’s an eye opener

  • Good one, Sir. Where do you get these ideas from?

  • Super thoughts

  • Ware wah. Good one!

  • Superb

  • Nice one karthik

  • Good one.

  • Great idea

  • Nice

  • Excellent

  • Wonderfull insights on this article..!

  • Very good article Karthik

  • Super stuff

  • Good read

  • Good & thoughtful article. Best wishes

  • good article karthik. very informative

  • Good article! Looking forward to surge into the future with this one

  • It is good have such kind of apps, nice thought

  • nice

  • Nice Article

  • Good Article..

  • Good one Karthik Narasimman !!

  • Very Nice Thought Karthik.

  • Very Nice Article

  • Nice Article Karthik

  • Really a new concept esp 4this generation which uses mobile a lot

  • Excellent article. Great ideas.

  • Awessommme article. Great ideas.

  • Super Assistant

  • That would be innovation.

  • Good one. Way to go.

  • Informative

  • Good one

  • Awesome

  • Good read

  • Good one

  • Wow superb

  • Good !

  • Good

  • Nice

  • Great

  • Good

  • Great article!

  • Nice article karthik

  • Nice to have in reality

  • Good one

  • Very good article. Sure it will be very helpful for the buyers to make informed decisions. This is the digital world, thank you for such nice idea.

  • Nice thought…!

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