Neal News: Streamline your customer shopping experience with AI
As pandemic restrictions lift, retail and CPG companies are well-positioned to double down on their data to optimize operations and improve the customer experience. Retailers leveraged AI to adapt to pandemic challenges and streamline how people shop, helping customers get what they want quickly and safely.
Here are a few retail scenarios for AI and computer vision that you may find interesting…
Microsoft Dynamics 365 Customer Insights and Microsoft Dynamics 365 Marketing
Dynamics 365 Customer Insights takes the basic functionality of a customer data platform (CDP) and adds a suite of integrations, AI/ML models, and more to create a 360-degree view of your customer. Now you can use your customer data to generate AI-powered insights that boost marketing ROI with improved personalization and segmentation.
Learn how Campari Group leveraged these tools to discover new insights to improve engagement with their consumers and bartenders during the pandemic:
Read the rest of about Campari Group’s story here.
Use case scenario: Live Video Analytics for Retail
Wish you had an extra set of eyes in the store to alert you of empty shelves and long lines? A new solution for your retail business is here! Our Live Video Analytics (LVA) consists of two important components, a digital video signal and algorithms. The algorithms analyze the video signal to provide analytics insights and enable use cases like facial recognition, foot traffic tracking, various safety and security solutions, and more.
Learn how LVA can help retailers track store foot traffic, automatically notify employees to open more registers to manage long queues, and detect product stock-outs.
Use case scenario: StockView uses computer vision technology to help detect stocks for retailers
A comprehensive study conducted at the University of Colorado and IE Business School Madrid revealed 30% of consumers feel stock-outs hurt their shopping experience. Also, 37% of consumers prefer buying a different brand due to stock-outs resulting in lost sales and unhealthy retailer relationships.
Neal Analytics’ StockView for Retail solutions help reduce lost sales and improve customer experience with AI-powered gap detection at the edge.
Check out this demo to learn how it works:
Use case scenario: Increase sales by putting the right products on every shelf using SKU Assortment Optimization solution
Our SKU Assortment Optimization solution offers Retail and CPG companies a way to dynamically optimize inventory across store locations, identify the best products for each market segment and increase market penetration.
Neal Analytics expertise with SKU Optimization helped a Saudi-based CPG company get the right products on the right shelves in over 50,000 stores.
Why are market basket analysis and product recommendation critical for retail businesses?
Check out this blog to understand how market basket analysis and product recommendations helps businesses boost sales with minimum efforts.
In other news…
- The health and safety concerns due to COVID-19 changed the consumer behavior towards shopping. Check out the 2021 retail industry outlook: The new rules of retail by Deloitte.
- The National Retail Federation (NRF) estimated the U.S retail sales to hit up to $4.56 trillion in 2021. Learn more in this article from Reuters.
- What are the challenges impacting the CPG industry? This webinar hosted by the New Hope Network will cover some tangible solutions for staying ahead of the competitors.