How Artificial Intelligence is transforming retail

If 2024 revealed the potential of AI, 2025 will mark the large-scale implementation of AI-based solutions across industries, especially in retail.?

Artificial intelligence acts as a catalyst that boosts retailers’ and brands’ performances. It also allows eCommerce to better adapt to various market changes.

AI has proved useful to:?

• Optimize logistics and order distribution.?
• Forecast stock and demand to avoid stockouts.?
• Improve management of inventory, product portfolio and categories.
• Identify opportunities to sell and design new products for the catalogue to beat competitors.
• Forecast buying trends and supply and demand movements.?
• And more.

Boost profitability and cut costs with AI-driven efficiency

82% of major companies are already using or actively exploring AI, according to IBM.

The results in retail speak for themselves:

• Demand Forecast Optimization: A 32% reduction in stockouts and a 20% improvement in inventory level optimization, according to McKinsey & Co.
• Catalog Size Precision: Gartner estimates that by this year, fashion sector companies will use AI to create more precise assortments, reducing SKUs by 30%.
• Personalized Journeys Driving Conversion: 63% of consumers prefer purchasing from websites offering personalized experiences and prices, according to PwC.
• And there’s more.

We’ve made it easy for you. In this White Paper, we’ve compiled the main uses of AI in retail and how your company can start leveraging them.

Optimize prices, promotions, and inventory with AI

With our Reactev | AI Powered Dynamic Pricing Tool, you can:?

• Develop and test different pricing strategies before rolling them out to the market. Simulate multiple price scenarios and analyze their impact on your sales and margins.?
• Make informed decisions and fine-tune your strategies to maximize your profits.
• Gain clear and accurate demand forecasts for the next period based on historical data and other relevant variables for your business.?
• Avoid running out of stock during critical moments and ensure your most in-demand products are always available.

Reactev is our AI Dynamic Pricing solution. If you would like to find out more about how we help other companies boost their sales we would be pleased to have a conversation with you.

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