Feature
Artificial intelligence (AI) is being used in the retail industry to improve both customer experience (CX) and sales. Brick-and-mortar, e-commerce and omnichannel retailers are using AI for a range of tasks, such as managing inventory, monitoring trends and personalizing products. Here, we look at some of the top AI products for the retail sector:
Table of Contents
- 1. Syndigo
- 2. Trendalytics
- 3. Retail AI 360
- 4. LEAFIO AI Retail Automation Platform
- 5. The Eye
- 6. V-retail
- 7. Retail ViVA
- 8. i2o Retail Advisor
- 9. Tulip
- 10. Hello Retail
1. Syndigo
The AI-based Syndigo solution by Syndigo is designed to enable retailers to onboard suppliers and their product content. Users can access images, descriptions, weights and measures, attributes and categories to drive merchandising programs. Syndigo-verified content helps augment product records. The solution is also designed to clean and organize fragmented data across departments and suppliers with custom retail product information management (PIM) solutions. Users can expand control and visibility across domains and establish a single source of truth for the enterprise with retail master data management (MDM).
2. Trendalytics
The Trendalytics trend forecasting and market intelligence tool by Trendalytics uses AI to provide retailers with consumer, social media and trend intelligence as well as comprehensive market analysis. The solution leverages signals in Google Trends, social media and e-commerce market data to predict what trends are emerging and which trends have reached their peak. The company’s industry experts also provide retailers with weekly data-driven trend reports and monthly intelligence reports, helping them see not only market trends, but also intelligence on competitors.
3. Retail AI 360
The Retail AI 360 platform by Retail AI 360 uses image analysis and AI algorithms to help ensure consistent stocking, accurate pricing and optimized shelf space allocation in stores. By scanning shelf images in real-time, the software identifies product presence, catches pricing discrepancies and maximizes sales opportunities, and the solution offers accurate checklist completion. AI-powered auditing also enables users to automate audits with AI-based algorithms that analyze images and data and deliver real-time feedback and detailed reports.
4. LEAFIO AI Retail Automation Platform
The LEAFIO AI Retail Automation Platform by LEAFIO AI is designed to autonomously execute demand-driven order generation and help ensure timely replenishment across all supply chain levels in the retail environment. Self-regulating AI-based technologies are designed to support precise orders, drive sales growth, enhance turnover and improve operational efficiency. The solution helps retailers align planning, merchandising and inventory execution teams within a single platform, enabling collaborative decision making driven by real-time data and AI insights.
5. The Eye
The Eye by Gofrugal, a division of Zoho, is an AI-based autonomous solution that’s designed to help retailers to make efficient purchases and inter-store transfers with minimal staffing and with high accuracy to use on-hand inventory. The software learns a retailer’s business data, predicts demand and prepares re-ordering recommendations based on ML-based algorithms for accurate business decisions. The solution also helps ensure the optimum purchases of fast-moving items while minimizing instances of stock outs.
6. V-retail
The AI-powered sales automation V-retail by V-retail is designed to help retailers connect with customers in real-time across channels through live chat, voice and video calls. Retailers can take remote control access of a customer’s screen and navigate them through a website’s intended user journey. This helps retailers understand customer requirements and provide product recommendations. The solution is equipped with cross-device and cross-browser accessibility and gives retailers advanced insights into their website and team performance.
7. Retail ViVA
Retail ViVA by Sathguru is an AI-powered retail enterprise resource planning (ERP) solution that’s equipped with 22 modules to automate mundane tasks and provide predictive insights to help retailers make data-driven decisions. The AI-driven Tulsi chatbot provides access to information across key Retail ViVA modules through natural language queries. Tulsi is designed to help users quickly find the answers they need. The document summarization feature within the governance, risk and compliance (GRC) module also uses AI to efficiently extract key information from complex documents.
8. i2o Retail Advisor
The i2o Retail Advisor platform by i2o uses AI to help retailers grow their e-commerce sales and operations. The AI-driven platform uses machine learning and advanced analytics to translate raw data into insights and recommendations for brands. The insights can be used in areas such as sales analysis, pricing, brand protection, supply chain and content intelligence. The platform also features i2o Category 360 to help brands understand their performance on Amazon and create an action plan to grow market share.
9. Tulip
The AI-powered retail diagnostics platform Tulip by Tulip is designed to help retailers get the most out of every store location by identifying risks, opportunities and how to improve their outlook across regions, stores and hours. The solution is designed to enable retailers to spot where they’re at risk of missing sales targets with forecasting algorithms that alert users to the segments and metrics that need attention well in advance. Associated solutions are available for customer personalization and e-commerce.
10. Hello Retail
The Hello Retail solution suite by Hello Retail uses AI-based behavior recognition software on the data of over 132 million products sold through the platform to create personalized customer experiences for online merchants. The AI-powered product recommendations help retailers show the right products to the right customers to increase basket size and conversion rate. Retailers can use the platform’s embedded intelligence to predict shopping patterns and present customers with products they desire. Users can also add recommendation boxes anywhere on their site to help maximize performance.
