Closing the Gap: 5 Factors for Successful AI Adoption

Easy is better, easiest is best they say. Who’s they? Consumers.

Consumers demand convenience.

This is what it really boils down to –all the change shaking up the retail industry. Consumers want it now, easy and free.

[T]he battle for convenience is the battle for industry dominance. […] Convenience is one-click, one-stop shopping, the seamless experience of “plug and play.” The ideal is personal preference with no effort.” The New York Times

While the retail industry is disrupted by consumer preference for convenience (without a doubt), it’s also disrupted by the evolving technologies in place to deliver on these new expectations. We already know what the consumer wants, but how do we actually go about delivering on these needs? How difficult is it for businesses to adapt?

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Topics: retail technology, artificial intelligence, inventory optimization, machine learning

The Cost of Love: 2018 Valentine’s Day Sales Increase Online Spending

What is the cost of love?

Of course, love is priceless. But, in all seriousness, how much are people really spending on Valentine’s Day this year? 

According to NRF data, the cost of love in 2018 is $19.6 billion.

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Topics: e-commerce, inventory optimization, retail spending, consumer spending, consumer trends

3 Common Misunderstandings About AI & Machine Learning in Retail

The hype surrounding AI is real. You know it, I know it, we all know it. So what exactly is the problem when it comes to adoption? Do certain misconceptions of what AI can and can’t do factor into all of this?

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Topics: retail technology, artificial intelligence, inventory optimization, machine learning

How Predictive Analytics and Machine Learning Can Help Optimize Your Inventory

Imagine a world where you could see into the mind of your customer.

What if as soon as you became aware of what your customer wanted to buy, you could flip a switch and the product would be manufactured instantaneously? Then, at the flip of another switch, you could get it into your customer’s hands instantaneously? 

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Topics: retail technology, artificial intelligence, inventory optimization, machine learning, NRF2018, innvoation

These Liquor Stores Are Taking Another Look at Their Assortments

Liquor store shelves are crowded. I mean, really crowded. Not just in type of liquor, but in sheer flavor variance. Smirnoff alone offers more than 20 different varieties of vodkas; because, well, apparently there’s demand somewhere out there for flavors ranging from Honeydew to Amaretto spiced. There’s also abominations like 'Cookies and Cream' whiskey and 'Dark Chocolate' tequilas; unicorn tear gins and sesame and popcorn daiquiris. Gross.

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Topics: in-store assortment, inventory optimization, liquor stores

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