Machine learning in retail demand forecasting has transformed the retail industry. The primary aim of using machine learning in demand forecasting is to predict the future demand in products and services accurately so that the product can be designed and re-designed accordingly. It… Continue
Added by Albert Smith on August 6, 2021 at 3:30am —
COVID-19 is changing consumer behavior and driving more people to shop online. At BigBasket alone, we have witnessed a surge in demand by 5X – 6X during the initial days of the lockdown in India. While the pandemic has driven the global demand for essentials and goods online, it has also brought on some new challenges for the e-commerce industry.
Leveraging artificial intelligence and data science to optimize e-commerce operations
Balancing the… Continue
Added by Avinash Udaykumar on October 12, 2020 at 11:00pm —
Use of SecureSVM, Boosting, Bagging, Clustering, LSTM, CNN, GAN in Retail with BlockChain
This blog highlights different ML algorithms used in blockchain transactions with a special emphasis on bitcoins in retail payments. This blog is structured as follows:
- Overview of the role of blockchain in the retail industry.
- Different traditional…
Added by Sharmistha Chatterjee on July 26, 2020 at 7:22am —
Summary: Especially in consumer goods and retail the value of AI/ML is only part of the story. AI/ML will increasingly need to integrate with helper technologies to deliver maximum value. Up your game in IoT, 5G, and robotics to ensure you’re giving your operating team all the best options for their investment.
Added by William Vorhies on May 13, 2019 at 8:06am —
Amazon is every online retailer’s forbidding nightmare. Last year, it dominated 44 percent of the US eCommerce market and about 4 percent of all domestic retail sales. One Click Retail, an eCommerce analysis provider, explains its dominance with the fact that millennials, Amazon’s core demographic, are getting older and starting to spend more. Moreover, advanced marketing capabilities for sellers, developments in Alexa, and pioneering in applications of the hottest technologies make it… Continue
Added by Maryna Ivakhnenko on July 11, 2018 at 11:00pm —
Never before have customers been more in control of the retail trade than today. But are they really? Or has the retailer wrested control of the exchange? Let’s revisit this in the light of new technologies and sensors deployed in this “game”.
In the sixties through the eighties, the Sears, Walmart and K-mart kind of super stores aggregated purchase information to decide what to buy and stock their shelves. Improving…
Added by Hemant Warudkar on May 14, 2018 at 7:00pm —
Artificial Intelligence or AI is expected to be in major demand by retail consumers due to its ability to make interactions in retail as flawless and seamless as possible. Many of us do realize the potential of AI and all that it is capable of, along with the support of Machine Learning or ML, but don’t realize… Continue
Added by Ronald van Loon on February 4, 2018 at 1:30pm —
Drones flying in the skies to deliver packages to customers, is how technology based on data and analytics is likely to impact retail industry and consumers both – in near future. New ways and means of understanding the customers are emerging and both, online and offline retailers are embracing this data first strategy. These retailers are trying their level best to match customers to products and services.
Retail is increasingly becoming a data driven… Continue
Added by Chirag Shivalker on September 16, 2017 at 11:00am —
Shifting market conditions and increasing competition continue to hit pressure points for retailers as a whole. Grocery is no exception. The age of omni-channel is well underway providing more options for consumers. New store formats seem to pop up on a regular basis. Shopper loyalty hangs in the balance and all signs point to its continued erosion. Intercontinental competition is about to escalate.
One approach to overcome some of these challenges is…
Added by Tony Agresta on December 11, 2015 at 6:03am —
In a recent interview on WGN, Bob Mariano, the CEO of Roundy’s was asked the question “What makes a great grocery store?” His response focused on customer care: “A great grocery store is made up of great people that care about their customers and go out of their way to make them feel appreciated.” Today, Mariano’s competes against global companies like Trader Joes and others and plans to merge with The Kroger Company in late 2015. But they still regard themselves as… Continue
Added by Tony Agresta on December 7, 2015 at 7:30am —
Two Obstacles Facing Retailers for Data Driven Marketing Success
Data Driven marketing is on its way to becoming the standard in all industries. A 2015 study by the…
Added by Larisa Bedgood on October 13, 2015 at 8:49am —
With immense growth in technology, financial institutes, skyscrapers and malls, one can find that the number of consumers have increased exponentially in the Middle East over the past few years. Reports suggests that 91% of the population comprises of expats in UAE enjoying high salaries and tax free benefits.
Moreover, the options to spend your money have gotten bigger and better with UAE working towards the initiative to build Smart Cities setting strong infrastructure fundamentals… Continue
Added by IPSITA on November 22, 2013 at 12:02pm —