Total retail sales loss in Europe exceeds €3 billion due to closures of major sales channels. A chance to turn the corner: AI and advanced technologies. Check out these 5 retail technologies that will help you fight back.
Navigating unprecedented times together
COVID-19 is putting retail to the test. Stores have been shut down, supply chains have been disrupted and consumer sentiment is wavering. No one can be certain how long the pandemic will last or how severe its consequences will be. But one thing is clear: Retail as we know it will have to change. To come out of the crisis, merchandising will require a new level of agility, accuracy and transparency. We’re here to help.
Retail fights back
It is, and always has been, aifora’s mission to preserve diversity in retail by giving retailers the tools they need to be at eye level with Amazon & Co. We do not take this task lightly. As your partner, we will do everything in our power to not only help you survive the current crisis, but to come out stronger than before. With our advanced predictive analytics capabilities and AI-powered solutions, we’ll empower you to fight back.
How aifora supports you
By including the “Corona Effect” in our models and demand forecasts, we deliver accurate predictions even in these uncertain times. Using simulations to test different scenarios and strategies, we enable retailers to make well-founded pricing and inventory management decisions. As shut-downs ease and regulations are adapted, our machine learning algorithms automatically adapt to market changes. Via dashboards that are updated in real-time, retailers achieve full transparency over their business performance. Throughout it all, a personal Customer Success Manager will be by your side.
Retail is in a new state of disruption. The culprit: COVID-19. As “non-essential” retailers across Europe and North America have been ordered to close their doors to the public, many fear for their existence. Here are some examples of retailers who have temporarily pivoted their business to help combat the crisis.