AI is a disruptive trend in many industries. It is the same in the retail sector. In addition, a crisis like this one with COVID-19 is always moving bars to the next level. As written in one of our previous blog posts, during a crisis, people might shop less for certain items, whilst the sales of other items bloom.
So, attracting customer attention is becoming harder every day, no matter whether they are buying online or in the store. But in the context of stores, and that is surely going to stay relevant for many products – we might notice that there are less people in stores, and they might want to be in a store only for a few minutes. Here is where fulfilled and properly set up shelves are crucial. Merchandisers are those who are very familiar with the problems that empty shelves can cause. FMCG companies are spending roughly 260 billion Euros per year for shelf space. So, it is crucial to know what is happening in each store, as well as what the store’s shelf share and planogram compliance is.
AI can help retail companies stay on top of the industry
This is what we discussed in our 30-minute webinar that you can find below. We hosted our strategic business partners in Artificial Intelligence projects: Ante Križanović, Chief Technology Officer at our partner company Aether Signum, and Domagoj Boršić, our partner and CEO at RED AI, the artificial intelligence application.
Just to give you some insight into what can be heard in the webinar: We highlight just a few of the rules that can help companies use AI, but for more details, look at this 30-minute webinar in which our Head of Marketing Ana Milas conversed with the collocutors mentioned above.
#1 – Expansion of human vision with computer vision and effective time management Computer vision does a precise job for sales representatives. Simply, they can do more in less time.
#2 – Identify new opportunities Due to the usage of modern technology, you can check your shelf share and even increase it. In addition, use it to check your planogram compliance.
#3 – Integrate data Although data are a new currency, they are worthless if they aren’t used properly, and one set of equations is to integrate data to get the whole picture of the real case.
# 4 – Ahead of competition by having full control of your category This is a space for growth where you can use modern solutions to develop your business and grow faster than your competition based on full control of your product at the POS.
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