Current Situation
Promotions are defined as a marketing function to drive volume and sales but are not entrusted to strategic planning, whether focused on moving inventory or driving higher profitability. Retailers are focused on regular promotional demand factors but don’t examine the broader, holistic impacts to their portfolios of products and assortments. Retailers broadly apply promotions across regions and geographies.
Goals and Objectives
Expand promotions to leverage intelligent promotional impacts to product assortments, design holistic strategic plans for promotions, and influence demand through demand shaping to achieve specific strategic outcomes for merchandise portfolios. Localize promotions to specific markets, including personalization of promotional offers, copy, and images to customers.
Technology Deployed
AI-enabled assortment planning, ML-enabled forecasting, LSTM and other predictive AI technologies, bidirectional encoder and AI-based optimization sciences; generative AI capabilities for human interaction and personalization; computer vision AI including capabilities for auto image and copy generation; broad predictive AI including deep learning algorithms for intelligent promotion development, CRM, loyalty management solutions, MDM, and asset management tools
Use Case Summary
Incorporate promotions and demand shaping to influence and automate how promotions are applied across product portfolios, including cross-product impact, to optimize strategic objectives.