AI reshaping retail from the inside out.
Artificial intelligence (AI) over years of being considered just a buzzword is now having a real impact on the retail industry, in many cases deciding about “be or not to be” of companies.
No wonder, today’s merchants collect massive amounts of data on transactions, interactions, and customers’ behaviors, that can be used in decision process improvements and keeping up with ever-changing consumers’ needs. With the old-fashioned, manual way of dealing with it, their efforts are, however, doomed to fail; yet AI occurred to be a “silver bullet” solution.
Exceed customers' needs and forecast their demands.
AI solutions for retail and ML methods help to perform accurate demand prediction based on unique target groups’ shopping behaviors while understanding the seasonal trends.
By connecting and analyzing data from separated silos, AI applications provide retailers with a comprehensive view of store inventory to prevent stock-out occurrences on the one hand and – on the other – to optimize product placement to increase sales.
AI benefits for retail.
- Improve customer retention
- Establish customer journey
- Shelf analytics and compliance analysis
- Boost sales
- Inventory & pricing optimization
- Demand forecasting
- Automate labor-intensive processes
- Automate data analysis
