Retailers Embrace Tech to Elevate Merchandising Strategies
The retail space is witnessing a surge in investments, with companies like Lowe’s, Family Dollar, Walmart, and Grupo Comercial Control leading the charge. These retailers are leveraging technology to streamline operations, improve inventory planning, and enhance accessibility to data. In this article, we’ll delve into the ways these companies are harnessing technology to elevate their merchandising strategies.
Lowe’s Taps AI for Seasonal Inventory Planning
Lowe’s is implementing AI-powered seasonal inventory planning capabilities in partnership with Relex Solutions and Accenture. This move is expected to introduce added flexibility into the company’s inventory planning approach. According to Accenture, the project will help Lowe’s improve operational agility and responsiveness to better meet consumer expectations.
Lowe’s is leveraging AI to improve operational agility and responsiveness.
Family Dollar Gets Personal with Promotions
Family Dollar is investing in personalization efforts, partnering with Ibotta Performance Network to deliver streamlined, consolidated access to promotions across its website and mobile app. This initiative aims to provide customers with increased access to national coupon offers across more categories. Emily Turner, chief marketing officer at Family Dollar, emphasized that the new platform will elevate the shopping and savings experience for customers.
Family Dollar is leveraging personalization to enhance the shopping experience.
Walmart’s Data Platform Gets AI Boost
Walmart’s data platform, Luminate, is receiving an AI boost, bringing disparate data sources together and recommending actions based on shopper insights. The technology from InsiteAI analyzes data within Luminate, identifying gaps and opportunities. This move is expected to enhance Walmart’s ability to make data-driven decisions.
Walmart’s Luminate is getting an AI boost to enhance data-driven decision-making.
Grupo Comercial Control Invests in Retail Strategy
Mexican retailer Grupo Comercial Control is investing in new planogram capabilities to minimize out-of-stock products. The company is working with Blue Yonder to streamline its merchandising and better determine category performance. This move is expected to enhance the company’s ability to analyze marketing conditions and commercial agreements.
Grupo Comercial Control is investing in retail strategy to minimize out-of-stock products.
As retailers continue to invest in technology, we can expect to see significant improvements in merchandising strategies, inventory planning, and data accessibility. These advancements will ultimately lead to enhanced customer experiences and increased operational efficiency.
Retailers are leveraging technology to elevate their merchandising strategies.
