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Early use cases for AI in retail include inventory management, dynamic pricing, customer service chatbots, lossprevention and personalized marketing. Retailers can automate markdowns to minimize revenue loss and increase profitability, which can be especially important for seasonal retailers.
In effect, this means a reduction of total inventories, maximized sales, and reduced markdowns. While at the same time adding to the online fulfillment system, by providing in-store pickup and local same-day delivery. Order fulfillment automation. to optimize inventory for gross margins. check out their story here).
A retail fulfillment process that is known as BOPIS — Buy Online, Pickup In-Store. During the pandemic, BOPIS retail fulfillment options kept businesses running while limiting person-to-person contact – which was essential during the pandemic. What is BOPIS? Why are customers choosing BOPIS?
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