How to Maximize Your Merchandising Potential With AI

Get insights from our summer Merchandising Meet-Up with Roxy Couse and Bloomreach guests. They shared their essential insights to help you revolutionize your approach to merchandising and ecommerce with the power of AI.

Key Takeaways From The Merchandising Meet-up:

Evolution of the Merchandising Role: The role of merchandisers has evolved significantly over the years. In the past, they had full control over the entire site experience, manually ordering products and curating recommendations, but this wasn’t scalable.

AI’s Role in Efficiency: AI has become essential for modern merchandisers because it allows for automation and efficiency in tasks that were previously time-consuming and manual. This enables merchandisers to focus on strategy and applying their business expertise effectively.

Research on Merchandising Evolution: Research conducted with marketing, merchandising, and CRM leaders revealed that while merchandisers initially faced challenges adapting to the digital space, they’ve since become more data-driven and customer-centric.

Efficiency Metrics: In addition to revenue metrics, time savings are crucial when measuring AI’s effectiveness in merchandising. AI can automate mundane tasks and provide insights, freeing up merchandisers’ time to focus on strategic activities.

Combining Art and Science: Merchandising strategies should combine the art of creative thinking with the science of AI-driven optimization. For example, AI can handle optimizing products for revenue during an end-of-season sale, while merchandisers can use their expertise to creatively promote slow-moving inventory.

AI Myths: Two common AI myths debunked: (a) AI is still far off in the future — AI is rapidly evolving, and businesses should adapt to its capabilities now. (b) AI will replace jobs — AI can automate tasks, but this also creates opportunities for creative work and decision-making.

Future of Commerce With AI: The future of commerce with AI involves AI serving as a creative assistant that can handle repetitive tasks, generate ideas, and facilitate decision-making. Merchandisers will still be in control but will work more efficiently and creatively.

Virtual Reality in Merchandising: Virtual reality (VR) has the potential to revolutionize online shopping by creating immersive and interactive shopping experiences. However, its adoption depends on factors like affordability and consumer interest.

The Metaverse: The metaverse, a virtual shared space, could transform how online shopping and virtual reality experiences are delivered. AI can play a crucial role in making VR and metaverse experiences more accessible and scalable.

Consumer Experience: The focus should be on meeting consumer expectations for trying products or experiencing services virtually before making a purchase. AI and VR can enhance this “try before you buy” experience.

The conversation highlights the evolving role of merchandisers, the importance of AI in improving efficiency and creativity, and the potential impact of virtual reality and the metaverse on the future of commerce.

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