No doubt, the digital behaviours and habits of Millennials and Gen Zers have had a profound impact on retailers worldwide.
Social media are rapidly becoming one of the most important sales channels, as images and videos are turned into eCommerce tools.
Consumers are creating new routes to purchase, comparing products and prices with a couple of taps.
At the same time, competition is becoming bolder, faster and smarter, with eCommerce and discounter business models taking away significant market share from traditional mass merchants.
Artificial Intelligence and Machine Learning can help retailers gain that competitive edge and innovate and that was the focus of a webinar we held recently. This white paper builds on the key points from this webinar:
- The changing AI-led retail landscape
- How companies are handling competition and the new competitor analysis landscape (monitoring, comparison, response)
- Solution: A Big Data–based approach
- Benefits of Machine Learning
- Examples of using Machine Learning for Competitor Intelligence & Decision Making
- Benefits and challenges