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DIGITAL MERCHANDISING MEET-UP
Summer ‘23 Merchandising Meet-Up
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.
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How to Maximize Your Merchandising Potential With AI
Key Takeaways:
- 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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Meet the Speakers From This Meet-Up
Director of Customer Experience Group at Bloomreach & Host of Bloomreach's Digital Merchandising Community Meet-Ups.
Roxy is a seasoned ecommerce strategist with over a decade of experience in defining digital merchandising tactics and strategies, as well as driving growth for organizations. She has led ecommerce merchandising for in-house digital teams such as Whirlpool, Frontgate, Avery Dennison, and Dillards Inc., and holds an advanced degree in User Experience Design. She has a wealth of experience in this discipline and is very passionate about all things ecommerce and site merchandising.
Product Marketing Manager at Bloomreach
Christine Reyes oversees product marketing for Bloomreach Search & Merchandising to help companies build great commerce experiences.
Sr. Manager, Experience Strategy at Bloomreach
Tara has a decade of experience in B2C ecommerce, specializing in on-site marketing and website trading for luxury consumer brands such as Ralph Lauren, Lululemon, and the Yoox Net-a-Porter Group.
Tara is an advocate for leveraging a brand’s online presence as a key strategic driver of total business growth, with significant experience and best practice knowledge on the transformation of a brand’s ecommerce site into the ultimate digital flagship store.
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