This 2023, the hybrid purchase model is expected to remain the trend leader throughout the year, that is, while e-commerce platforms continue to be perfected, there is also a predilection for physical purchases in stores. Even though there was a drastic increase in e-commerce Caused by Covid-19, which implied one of the biggest challenges in terms of digitization of retail, purchases in physical stores continue to strengthen, as consumers continue to expect greater personalization and an increasingly faster and more satisfying experience.
According to the Soti global report: The Technological Effect: Strengthening Omnichannel to Meet Consumer Demands62% of Mexicans prefer to continue buying in stores.
When the person goes to a store or places an order online, they expect to find the product they are looking for easily, therefore a delay or error on the part of the store may mean that the purchase is not made.
Francisco Martínez, Business Development Director in Mexico.
These negative experiences for buyers, also called lost sales, can affect up to 20% of the result of managing the sale of a product, but not only that, it can damage the reputation of the company by not meeting the needs and expectations of customers. buyers. This percentage translates into millions of pesos, and can be avoided with applied technology.
The startup focused on retail efficiency with a presence in Mexico, Teamcore, delivers actionable data to companies so they can develop the most appropriate sales strategy, which helps them avoid losing sales by at least 50%.
Artificial intelligence and retail
“Models based on high technology can give visibility to key information such as optimal execution, behavior and availability of a product, particularities of a store and sales trends, along with providing a satisfactory experience for customers,” said the executive.
He added that, “when there is no coordination between what a store offers, in its physical or virtual channels, and what is actually in stock, the surplus can exceed the actual sale, which becomes more serious when it comes to short-lived products. Today, thanks to Artificial Intelligence, area managers can be informed in real time to avoid this loss”.
Teamcore has developed a model based on Machine Learning that proposes a Growth Retail strategy, but what does this mean? “With actionable and real-time data we help retailers capitalize on their sales opportunities, while meeting customer expectations consumer, in all its platforms, channels and branches. With this we provide full visibility of the business, alignment of the entire team and delivery of key data”, he explained.
And it is that in a year where the concepts of recession and artificial intelligence seem to be protagonists, technology and methodology become allies to promote growth even in complex times.
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