How AI Merchandising Tools Can Transform Ecommerce
While AI-powered tools help streamline merchandising efforts, they won’t replace the creativity of designers, marketers, merchandizers or product managers. These roles remain crucial to creating products that customers will find desirable and to designing innovative ways to showcase those products to consumers.Go here:retailexpress.com
Using data, AI-powered merchandising tools can provide insights to assist with the most important and complex ecommerce tasks such as product selection and pricing, promotion planning and execution, content personalization and inventory management. This means that merchandisers can focus on more strategic initiatives to drive revenue and improve the customer experience.
AI Merchandising: Key Trends to Watch in 2024
AI can help retailers increase their sales and conversions by automatically optimizing their search engines and merchandising strategies. For example, ai merchandising tools can use analytics to predict the success of new products before they hit the shelves, allowing the B&M team to more accurately forecast inventory quantities and price points. Moreover, AI can help improve the user’s experience by predicting and delivering relevant results based on their previous searches and the context of their current visit.
AI-powered tools can also automate the most tedious and repetitive merchandising tasks such as descriptions, pricing updates and localization, product grouping, and product placements across different channels. These capabilities free up time for merchandisers to focus on more creative projects such as assembling bundles of products into solutions or making recommendations to meet latent needs. Furthermore, AI can analyze incoming orders to detect patterns and predict future demand for faster inventory management.
