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Early use cases for AI in retail include inventory management, dynamic pricing, customer service chatbots, lossprevention and personalized marketing. AI in Marketing: Creating Compelling, Engaging Content at Scale AI has revolutionized content marketing for retailers. That’s just the beginning, though.
It’s anticipated that the global AI retail market will soar past A$36 billion by 2028 and exceed A$70 billion by 2032, highlighting its growing importance and undeniable impact. Personalised recommendations: You can tailor marketing and product suggestions based on purchase history and browsing behaviour.
Inventory is the second largest controllable expense and retailers are reporting back an improvement in markdown reduction losses of as much as 50 per cent through using the software to manage planning. You can discover more about Zebra Technologies’ new generation of connected software solutions here.
Traditionally, retailers have treated forecasting, planning, pricing, inventory, and promotions (marketing) as completely separate domains, often with competing mandates. Promotions can increase foot traffic and sales of market basket items, while simultaneously cannibalizing sales from a variety of other SKUs.
Proving that choosing to implement BOPIS tangibly affects the market share a retailer has access to. The rise of at-home delivery forced lossprevention managers to start looking beyond the store. Whereas BOPIS shifts the delivery to the retail premises where store employees and lossprevention practices control every order.
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