Retail is one of the most competitive sectors in which new competitors are constantly appearing; to this we have to add online shops, the abundant supply of products and large corporations.
This situation is gradually driving traditional businesses to lose market share to those that are beginning to introduce a business intelligence strategy and artificial intelligence at their points of sale.
Faced with this situation, more and more retailers are deciding to look for solutions based on Artificial Intelligence. Among the many benefits it offers are increased sales, significant savings in advertising costs and increased effectiveness of campaigns and promotions.
Knowing more about the customer, forecasting sales or personalising offers in real time is possible and we would like to explain how you can achieve this. Keep reading!
What is Artificial Intelligence?
Artificial Intelligence (AI) is the combination of algorithms designed with the purpose of creating machines that have the same capabilities as humans: learning and reasoning to extract valuable information to improve the performance of your business.
AI in combination with Big Data and other tools has changed the way retailers communicate with users. It is a revolution comparable to that caused by the Internet, whose transformative capacity is no longer in doubt.
Artificial intelligence is to personalise the product and improve retail sales.
What really changes with Artificial Intelligence is the shopping experience. Big Data offers us data on user profiles with tastes, motivations, age preferences… with the aim of being able to offer the right product to the right customer at the right time. To achieve this we need artificial intelligence.
Applying AI and Ladorian’s Prime-Time algorithms, we get from offline data what we need to know and learn automatically from the patterns and the customer journey of your users to create effective sales and communication strategies in the retail.
Ladorian IDS helps you to boost your business and sales with AI
by leveraging the data that is generated every day. Using this data and applying AI and Data Analytics tools, we create patterns and behavioural habits of your customers:
- We determine the best times and days to broadcast content at establishment level.
- We analyse product trends and set recommendations for those products that represent an opportunity.
- The Partnership Algorithm analyses cross-selling and determines the best combinations of products for joint promotions.
- We identify the profile of residents around the establishments using official INE data.
All this information allows us to create Smart Content or Intelligent Communication strategies with personalised content and advertisements that are activated in real time through the different communication channels.
Data analysis and Artificial Intelligence help the offline business to win long before the customer makes the purchase.
Do you want to improve your business sales with intelligent communication?
What will you achieve by applying AI in your retail or point of sale?
Take advantage of the information in your business, facilitating decision making and helping to detect new opportunities.
- Understand customer behaviour patterns.
- You will take advantage of the data in your physical point of sale with a +30% increase in sales and profitability.
- Improve point-of-sale conversion rates by using data strategically.
- Create cross-selling strategies based on consumer buying habits.
- It will allow you to make more effective and profitable strategic decisions for your business.
Technology is a useful tool for physical points of sale that want to be competitive and not be left behind in the digital revolution of physical spaces. An adaptation that every day more and more users demand and to which they must know how to respond.
At Ladorian we can help you, contact us!