Beautiful stores and well-trained employees will take a retailer only so far. True advantage is gained with secure, reliable, interconnected and always on systems capable of handling the massive data requirements shoppers’ expectations are placing on retailers.
Promotional waste and flawed thinking about dynamic pricing are killing retailer profits. Cheryl Sullivan, Chief Marketing and Strategy Officer with Revionics, makes sense of the situation and what to do next.
Artificial intelligence was everywhere at the NRF Big Show, but if it’s not informing product strategy and driving sustainable, profitable revenue what good is it? Sy Fahimi, SVP of Product Strategy at Symphony RetailAI, describes how AI is changing retail for the better.
Artifical intelligence is poised to transform retail, according to Symphony RetailAI Chairman and CEO Pallab Chatterjee. His firm has developed a framework to identify, activate and realize the benefits AI can bring to retailers' assortment, promotions, category management and supply chain decisions.
Major changes are ahead for how retailers and suppliers execute product planning cycles. As category management becomes more data driven and impacted by AI, planning cycles will be determined by consumer data rather than traditional planning cycles.