Lifting Profitability in Retail Through AI

1. Optimised Inventory Management

Clear Demand uses predictive analytics to forecast demand. By analysing historical sales, market trends, and customer behaviour, the system helps to optimise working capital.

2. Automated Customer Service

Zendesk Chat handles large volumes of customer inquiries 24/7, providing instant responses without human intervention. This reduces the servicing costs.

3. Dynamic Pricing

Dynamic Pricing by Prisync uses AI to adjust prices in real-time based on demand and competitor data. This helps to increase margins while reducing manual price adjustments.

4. Efficient Supply Chain Management

Llamasoft helps to optimise supply chain operations by predicting disruptions and identifying the cheapest shipping routes.

5. Personalised Marketing

Emarsys analyses customer data to create targeted marketing campaigns. By delivering personalised content and offers, these campaigns increase conversion rates and reduce acquisition costs.

6. In-Store Automation

Checkout systems such as Amazon Go, eliminate the need for cashiers by allowing customers to check out automatically using sensors and cameras. This reduces labour costs and enhances the shopping experience.

7. Fraud Detection and Prevention

Fraud monitors transactions in real-time to detect and prevent fraudulent activities, helping retailers to protect their bottom line and maintain customer trust.

Innovative retailers such as Wallmart have set up teams to rapidly evaluate and operationalise these use cases.