While there are more or less “scientific” merchandising principles, formulas and theories, the knowledge, experience and intuition of the retailer brings something indispensable to the table – the “art” of merchandising. This brings us squarely back to the answer to question #2 above.At Syntel, we always keep an eye on the horizon, and have been steadily investing in developing an ecosystem where designers, merchandisers and buyers will leverage AI to predict what customers want before they even know themselves. We believe that the future of Merchandising will capitalize on the inherent creativity of the human mind, backed by AI-driven creative algorithms. Clearly, merchandising design and planning requires a lot of creativity and prediction to succeed, and AI and ML will help lead the path forward. As a trusted technology partner, Syntel can help our clients harness AI and ML to progress in their Merchandising journey by focusing on:
- Customer Experience AI: Assemble and recombine a series of components and thousands of potential configurations to identify factors that drive maximum impact and saleshe painter?
- Managing Variations through Automation: Define and manage automation algorithms and large data sets that use continual iterative A/B testing to pick “winners” for customer latent needs
- Mental and Data Models to Recommendation Engines: Use a data-driven approach to build inputs that run the recommendation engines
- Capturing Nuanced Customer Triggers and Signals: Capture and identify the customer responses of and discover insights that define discovery of next generation traits