Intelligent Merchandising – How AI Can Supercharge Your Pricing and Promotions

Merchandising AI is the next generation of retail intelligence and technology, enabling retailers to supercharge their pricing and merchandising strategies. By predicting the impact of your pricing and promotional plans before they are implemented, you can improve margins and profits without the guesswork that used to be associated with traditional merchandising methods.Find out:retailexpress.com

Intelligent merchandising can help you to create personalized shopping experiences for your customers, increasing your sales and customer loyalty. AI can automatically recommend and cross-sell products based on real time data as well as shoppers’ past purchase behavior to increase basket size and AOV. This approach also reduces the risk of annoying customers by recommending things they don’t need or even worse, losing them through unrelevant recommendations.

The Art and Science of Retail: Unveiling the Secrets of Intelligent Merchandising

By analyzing your competitor’s pricing and supply, as well as your own historical sales data, predictive analytics can provide the insights you need to set accurate prices that maximize revenue and profit. By combining this knowledge with product demand and market supply, AI algorithms will make the right price adjustments in real-time – delivering stand-out promotions that drive results.

Smarter field merchandising can lighten the load on your field reps by removing daily store-level out-of-stock and compliance tasks and capturing valuable data on how the shelf is performing in stores, improving pricing compliance and enabling you to better understand the impact of store planograms. This is already proving to be extremely effective for consumer product brands in the salty snack and tobacco categories.