Top 10 insights on AI-Driven Merchandising

Monday, June 11th, 2018

 

Artificial Intelligence is already helping us in our everyday life by making informed, objective decisions based on masses of data extremely quickly. Sound familiar? Solving complex problems like deciding which of your thousands of products to expose to each of your millions of visitors is meat and drink to this modern technology.

Here are the 10 top takeaways from our ‘Connected Customer’ report focusing on AI-Driven Merchandising:

  1. Best results are through the balance of Artificial and Actual Intelligence; this is the dream team.
  2. Being able to remember/ track the sales, profits and conversion helps to build trust in the business to trust the AI. Machines know better than humans. Data proves it.
  3. Merchandisers like to merchandise for themselves using their own assumptions. Auto and AI merchandising make decisions based on actual user behaviour.
  4. Has AI merchandising gone through thorough A/B testing? Within the industry there seems to be many uncertainties.
  5. Tools can’t necessarily reach to all external influences impacting merchandising decisions. Almost everyone needs the ability to manually input into merchandising
  6. How do we “win over” B&M to trust AI?
  7. Difficulty to adopt AI without getting visibility/insights from it. Concern that currently the results are not sufficient.
  8. AI doesn’t always share the results to act on new things to create such as bundles.
  9. What if the customer journey starts from an offline piece? When will AI power the offline channels merchandising?
  10. AI software will be more efficient in less time than humans. AI will also let you flip your concepts – i.e. what has not been clicked and why to help increase time engaged online.

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