OCTOBER 2024retailtechinsights.com8In my opinionHave you ever walked through the aisles of a store and wondered how a product got there? Who do you think would buy them? I remember living in South Florida when these questions first came to mind. While shopping, I stumbled upon an assortment of heavy winter coats. For anyone who isn't aware, South Florida does not get cold. So why were winter coats even sent to this store? I could speculate that either there were poor analytics or no analytics at all that resulted in this guaranteed markdown.Retail has become faster and more challenging than ever before. The times of predictable sales resulting in more accurate location and financial plans are a thing of the past. With the speed at which consumer demand continues to shift rapidly, we are also faced with more uncertainty due to climate change, political discourse, and monetary policy impacting inflation and high-interest rates. The effect of each of these factors often varies by geographic area, so the subsequent needs by location become more dynamic. Fortunately, we also live in an era where technology is rapidly improving. But how can we leverage this technology and apply it practically?THE FUTURE OF LOCALIZATION USING AIBy Jackie Long, Director of Merchandising Technology Initiatives, Bealls Inc.Jackie Long
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