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The next generation of AI driven retail merchandising and fast moving consumer goods

Artificial intelligence (AI) is transforming several sectors of the economy such as automotive, construction and chemicals. Retail and FMCG could be next.

Possible AI-powered Applications for the retail and FMCG industry

Demand forecasting

By using qualitative forecasting, time series analysis or a causal model, it possible to predict the demand of your products in the future.

Personalized customer journey

By collecting data, retailers have a much better understanding of the needs of their customers. With the geolocation services of smartphones, retailers can send a notification to the customers that are within a certain distance from their stores.

Dynamic pricing

Using time-series methods and big data analytics to calculate how a product’s price affects demand, accounting for a wide variety of factors including competition prices and omni channels.

Supply Chain Analytics

Within the logistics and service industries, AI tools are ingesting the raw data from Internet of Things (IoT) sensors, combining it with location intelligence, and delivering new kinds of services to meet increasing customer expectations.

AI service agent (chatbots)

Chatbots provide a boost to attract consumers, increase engagement, but at the same time can play a critical role in helping retailers keep up with changing consumer demand.

Autonomous delivery (drones)

Delivery and service robots are already in use at several major retailers, conducting tasks such as inventory tracking, moving goods, and delivering parcels.

The next operating system for retail and FMCG?

The value chain of retail exists of many different components (production, planning, logistics, stores, pricing, delivery, marketing and more). Therefor, the real value of AI can be created when different parts of the value chain are connected. This requires an ecosystem where separated business units talk 'with the same data language'.

Key components

Stock purchase, Supply chain & logistics, Design, Demand forecasting, Stores & sales, Customer Intelligence, Product assortiment, Marketing, Pricing & Promotion

Global footprint

30% of all employees in the world are active in the retail industry. Turnover from the retail industry is $28 trillion, 31% of total consumer spending.

Threats

Available labour, Real Estate, Regulatory developments, Buying behaviours, Economic growth.

What value can bring Data Science & AI to your retail or FMCG company?

Data capturing

Using smart cameras, nodes and IoT sensors, you can gather more information about the developments of your goods.

Machine Learning

Using deep learning techniques and image recognition, you automatically convert your data to actionable insights.

The data ecosystem

Connecting data sources from different stakeholders in the value chain you can create an ecosystem and profit from large scale data analysis.

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