Are you looking to optimize your store's shelf space for a new product line? In this podcast episode, a team discusses their experience of using AI technology to optimize their shelf space and improve their revenue potential.
By applying merchandising constraints such as "item pairing," the team was able to run five different scenarios to analyze the impact on revenue. Specifically, they focused on item pairing and discovered that it significantly impacted their revenue potential. However, applying product orientation and front-facing rules did not significantly impact revenue potential.
This highlights the importance of taking a data-driven approach to analyzing multiple scenarios to create a final assortment strategy that meets necessary constraints while maximizing revenue potential. With the power of AI technology, you can analyze a greater number of scenarios and discover new revenue opportunities.
If you're looking to optimize your store's shelf space, consider implementing AI technology and a data-driven approach. By doing so, you can make more informed decisions and improve your revenue potential.
Measuring Assortment Impact With AI: Strategy to Execution
The Role of AI in Planograms: Driving Sales and Enhancing Supplier Negotiations
How AI Drives New Product Innovation & Measure Impact
Russ Hawkins Russ Hawkins on Unlocking the Future of Retail: Challenges and Data Insights
How does AI help with assortment deletions and additions?
"What If" Scenarios: Exploring Assortment Strategies with AI
Podcast - Common Pitfalls in Product Line Reviews (PLR) and How AI can help
6 AI-driven use cases for scenario analysis and strategic assortment planning
Unveiling Edge Assortments: AI's Hidden Retail Gems
Unveiling the Retail Truth: Why Shoppers Lie and How AI is Changing the Game
Penelope Murdoch on Retail Transformation and Designing AI-Driven Products
Why Optimizing Demand Transfer at the Store Level Matters
"The Chameleon Effect: Unmasking the Dichotomy of Consumer Behavior
Dirk Herdes and Jackie Wightman on Leveraging AI Towards Locally Relevant Shelves
Test Shopper Insight Hunches & Introduce Innovative Strategies To Your Retailer
Navigating Price Strategies: The Delicate Balance in the Retail Industry
Mastering Price Pack Architecture with AI: Optimizing Assortment Across Retailers
Tyson Foods' AI-Driven Journey to Innovation & Brand Protection at Target Stores
Solving the Assortment Optimization Conundrum: Balancing Hyper-Local Retailing with Store-Level Operations
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