AI 101: Automating the Mundane

 

 

Join Nicholas Wegman, Ph.D., Senior Director of Artificial Intelligence and Alex Barnes, Senior Director of Product Management, in a three-part series that demystifies the science behind Artificial Intelligence (AI) and reveals how it can increase your margin. Taking an insightful journey into its history and present-day market trends, they will discuss why AI may—or may not—represent an ideal solution for every business.

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Omnichannel Demand Planning: The Future of Mid-Tier Fashion Retail

 

 

As we continue transitioning toward a post-pandemic economy, mid-tier fashion stands out as one retail sector that is irrevocably changed. 

It's clear now that fashion retail will never return to a pre-COVID sales mix dominated by in-store purchases, nor are we ever going to see the levels of online sales that occurred during the height of the lockdowns. There remains a considerable segment of consumers that will always prefer the tactile experience of visiting their favorite stores to browse through racks and try on items before purchase. While other customers—particularly millennials and Gen Z—avoid the local mall in favor of purchasing clothes online via websites and mobile apps.

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Finding Profit in Omnichannel

Not an Ideal Predicament

Depleted revenue, compressed margins, a shortage of labor, plus an infrastructure not designed for an online volume consisting of 40-60% of total sales. Not ideal for fashion retailers. And beyond that, retailers experience up to 8 percentage points of margin loss on a digital order.1

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Infographic: Omnichannel Fulfillment Challenges

Increased omnichannel shopping and shifting customer order fulfillment costs retailers 6 to 8 percentage points of margin. Read about the typical challenges faced by fashion and apparel retailers due to these shifts.

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Infographic: Finding Profitability in Omnichannel

Omnichannel fulfillments comes at a cost to retailers, so how can retailers become omnichannel aware and find profitability in this paradigm? Read below to find out more.

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