There’s been a major shift in the way consumers shop. With global retail giants like Alibaba and Amazon disrupting the traditional order of things, businesses have begun to realize the importance of data, AI, automation and omnichannel innovation.
It is hard to ignore the media sensation around robots, automation and artificial intelligence – while the benefits are clearly documented, there is still a certain amount of nervousness in the market. Will robots really take our jobs? Or are they actually ideally placed to make routine tasks like data analysis easier to manage, leaving skilled…
It’s estimated that British supermarkets create 800,000 tons of plastic waste each year. Concerns over the amount of plastic waste were also raised by the British Prime Minister, Theresa May, who encouraged Britain’s major grocery stores to set up plastic-free aisles.
The Otto Group, the world’s second largest multi-channel retailer, has been on a game-changing AI journey since 2006. AI in retail, however, is not exclusively for global businesses with high budgets and vast investment resources, like Otto. It can revolutionize the performance of small, medium and niche retailers.
Once upon a time, retailing was relatively simple. Merchants selected an appropriate product range, bought them at the lowest possible price and at the right quantities, and sold them for a profit. Today, thanks to its global nature and disruptions to the market, retail is one of the most complex industries to trade in.