Artificial intelligence (AI) is revolutionizing the retail industry, with giants like Walmart leading the charge.
Walmart uses AI to manage its inventory, improve customer service, and streamline operations. AI-powered robots roam the aisles, and hi-tech cameras scan the shelves, alerting employees when items are low or out of stock. This streamlining allows employees to restock items more efficiently, reducing out-of-stock situations and improving customer satisfaction.
Challenges in Implementing AI in Retail
Despite its potential, AI in retail has its challenges. One major issue is that AI relies heavily on accurate product data. If an item’s shelf tag is missing, AI can’t detect whether an item is in stock, or the shelf is vacant. This poses a common problem for brands available at Walmart, where customers often bring shelf tags to automated checkouts for price-checking purposes.
Let’s consider an example of Walmart, which operates 400 stores in Canada. If 50 people per day bring a shelf tag to the checkout register, that’s 20,000 shelf tags in a day and approximately 7.3 million per year. It’s not hard to imagine how and where problems are bound to arise. Similarly, suppose an item is placed on the shelf with no tag on the shelf. In that case, the same problem arises — the computer cannot detect the absence of the product or identify any underlying problems.
The Importance of the Human Touch in Retail
Another challenge with AI in retail is that it can’t replace the human touch. While AI is excellent at analyzing data, predicting trends, and optimizing processes, it lacks the empathy and personal touch humans can provide. The retail merchandising industry relies heavily on human interaction, and AI can’t replicate that — at least not yet.
The Role of Marketsupport Canada in Addressing Challenges
That’s where retail merchandising companies like Marketsupport Canada come in. We ensure products are well-stocked and priced correctly. In addition, we provide a human element to brands by engaging with retailer staff and building relationships to provide valuable feedback on product performance. We ensure brands communicate regularly and effectively with retailers to maintain a good relationship.
We also understand the importance of marketing support in promoting products and assisting brands with in-store displays and product demonstrations to ensure customers know where to find them. Our goal is to ensure that customers have clear information about where to find the products they want. We also make substantial investments in quality control to ensure that products meet industry standards and avoid any issues that could lead to delisting.
One example of how Marketsupport Canada can help a brand listed at a retailer like Walmart is by ensuring products have accurate shelf tags, pricing, and SKUs for seamless price scanning. This helps prevent out-of-stock situations and improve overall brand product performance. With our extensive national field force comprising over 500 employees, we offer comprehensive coverage across Canada, enabling both big and small brands to achieve their coverage goals effectively.
Enhancing Retail Efficiency and Accuracy
While there is no doubt that AI is revolutionizing the retail industry, implementing AI in retail comes with its own set of challenges. One such challenge revolves around ensuring accurate product data and preserving the indispensable human touch. That’s where a retail merchandising company steps in to address these challenges by ensuring accurate shelf tags, pricing, and SKUs for seamless price scanning. Our comprehensive coverage and marketing support help brands listed at retailers like Walmart improve their product performance and achieve their coverage goals. While AI continues to shape the retail landscape, companies like Marketsupport Canada play a crucial role in maximizing its benefits and ensuring a successful retail experience for brands and customers alike.
For more information on leveraging AI in retail and overcoming related challenges, visit www.marketsupport.ca.
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