Getting shoppers’ attention online is the first step to converting them into customers. Effective merchandising is both a science and an art, but it needs to be powered by data. Using artificial intelligence (AI), intelligent merchandising is designed to understand what motivates consumers to purchase products. By understanding the real-time nuances of customer behavior, intelligent merchandising can drive business-critical decisions that maximize sales and profit margins.Go here :https://www.retailexpress.com/
With the rise of e-commerce, more and more retailers are utilizing intelligent merchandising to meet their customers’ expectations. Smart merchandising tools gather insights from shopper browsing behavior and search history to create personalized experiences. By capturing the intent of each individual visitor, intelligent merchandising ensures that the right product is displayed at the right time.
The Role of Machine Learning in Adaptive Merchandising for Online Retailers
This approach to merchandising also enables retailers to replace outdated metrics like sales per square foot with a more optimized version called CX per sq. ft. Through predictive analytics, intelligent merchandising uses AI-based algorithms to process large volumes of high-quality data and make efficient planograms.
By streamlining manual merchandising processes, intelligent merchandising allows teams to focus on optimizing pricing and maximizing full price sell thru’s. AI-powered merchandising solutions combine competitive and internal business data to automatically update prices across channels, pinpointing underpriced items or areas where markdowns can be reduced. By leveraging this type of merchandising intelligence, retailers can increase profit, limit markdowns and boost gross margin.
