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In retail, some of the promising applications include demand planning and forecasting, as well as storelayout optimisation, all of which drive growth. While we’re still in the early days of GenAI, we’re already starting to see companies experiment with sandboxes to better understand its potential and limitations.
Shoppers have slowly begun to accept brick-and-mortar’s return: 22% have increased their willingness to set foot into a grocery store or pharmacy since March, according to data from Resonate. Only 24% planned to increase their online grocery orders in June, while 12% are starting to decrease their online grocery usage.
This means stores providing and recommending what the customer needs, when they need it, with the power of data and AI. It also means having a unique in-store experience with optimised storelayouts, mall facilities, customer service and of course, safety measures. Strategically located on a gross area of 3.48
The Target Syndrome Think about the last time you shopped at a Target store. Chances are, even if you went in to buy a bottle of glass cleaner you spent at least $50 on things you hadn’t planned on purchasing. We call this “The Target Syndrome” because it doesn’t happen in other big box stores. How much did you spend?
The local coffee house competes with Starbucks, the apparel shop down the street competes with the national chains, and when your main competitor remodels the store, we can guarantee that your customers will stop in to check it out. These signs just irritate customers and make your store look bad.
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