Retail and Consumer Packaged Goods (CPG)

AI has a myriad range of applications for Retail and CPG segment with use cases spanning from inventory management, route optimization to improving sales through customer behaviour analysis. Some of the use cases include:

Retail and CPG

Chatbots for customer service can improve customer experience through: 

  • Answering frequently asked questions or clarifications

  • Sending notifications about new collections or arrivals

  • Suggesting next product to buy based on customer’s past history

Retail and CPG

Price adjustments and optimization through predictive analysis:

  • Real time information about other products, promotional activities and sales revenues

  • Visualize likely outcomes of multiple pricing strategies and approaches

  • Engender loyalty for existing customers and enable new customer acquisition.

Retail and CPG

Price forecast using Predictive Analytics, AI enabled systems are able to forecast prices:

  • Based on seasonality, new product launch date, demand, predict the right product-price

  • Auto-update customers on upcoming price change for a product to spur purchase

  • Build customer loyalty through these pro-active price measures and customer updates

Retail and CPG

Supply chain and logistics using predictive and prescriptive analytics:

  • Demand calculation through data on sales history, location, seasonality, trends

  • Reducing left-over inventory and stock-out scenarios through predictive analytics

  • Automated re-orders for right quantities for optimum replenishment

  • Route optimization through linkup with GPS tracking to plan most efficient routes

  • End to end efficiency improvement through upstream and downstream planning

Retail and CPG

Advanced AI applications in retail can be customized and include: 

  • Visual search systems to find similar products with different specifications

  • Cashier-free stores with robotization and auto debits based on items bagged

  • Automatic classification of myriad range of SKUs with Computer Vision

  • Virtual fitting rooms with Computer Vision that obviate actual trial before purchase

  • Facial Recognition system to track customer satisfaction through facial expressions