Intelligent Merchandising – Faster, Faster, and Fueled by Data
The art and science of retail intelligent merchandising is a critical factor for driving sales and improving the customer experience. But with the drastic market fluctuations of recent years, retailers need to adopt a new approach that is fast and fueled by data. Enter intelligent merchandising, the process of using data-driven algorithms and user experience best practices to convert shoppers into paying customers.
AI-powered smart merchandising allows retailers to use real-time, customer purchase history to deliver relevant product recommendations, cross-sell, and up-sell that don’t annoy or lose shoppers. By understanding the shopper journey and buying habits, intelligent merchandising can help businesses achieve higher AOV and basket size.
The Art of Intelligent Merchandising: Boosting Sales with Data-Driven Strategies
In addition, AI-powered merchandising uses predictive analytics to forecast at a granular level and dynamically group products into categories based on similar attributes. This enables retailers to identify and address product demand trends and predict future sales at an unmatched speed.
The application of AI merchandising processes is key to achieving customer-centricity in today’s fast-paced retail environment. But without the right tools and capabilities, these goals will remain a dream for many organizations. That’s where intelligent merchandising comes in, making the move to a more strategic and customer-centric model easier for teams and business leaders alike.
One way to do this is through a digital shelf image solution called Best Shelf Action, which lightens the workload for field merchandising reps and helps them execute more effectively in store by providing immediate guidance during each field visit. This has been proven to reduce out-of-stock, improve pricing compliance and align planograms with store-level price management, all of which contribute to better margins.