Solving the real time availability problem for clothing retailers
At any point in time, most clothing retailers do not accurately know,
across all of their stores and channels, how many of the products they have
ordered, are currently available for customers to buy.
This creates
disappointed customers who cannot buy what they want and is highly frustrating for staff, store owners and
their suppliers. It results in poor service, missed sales and significantly
higher costs.
This is a multi-billion dollar industry problem but one that we can now help clothing retailers to solve.
We can deploy RFID technology and AI to enable retailers to capture and deploy
real time stock availability data so they can increase sales, reduce waste and
deliver much better customer engagement
The core of the proposition is a multi-channel Real Time Product
Availability Engine which uses RFID technology and AI to process product, order
and fulfillment, replenishment and returns data and translate them into
actionable insights that can be deployed in real time via retail applications and services including : ERP systems, order
management systems, logistics systems, store compliance and workflow solutions
as well as CRM, customer loyalty and customer service solutions
The early adopters of this new technology are delivering stunning results.
Real time availability data analytics are set to have as big an impact on clothing and fashion as the introduction of epos data in the 1980's and loyalty data in the 2000's.
Great insights on the real-time availability challenge in retail. Product availability is one of the biggest factors influencing customer satisfaction, and even a small stock-out can result in lost sales and reduced brand loyalty.
ReplyDeleteWhat I found particularly interesting is how improving inventory visibility can enhance the overall customer experience. This is especially true in sectors like beauty retail, where a beauty advisor often needs accurate stock information to recommend products confidently and help customers find suitable alternatives when items are unavailable.
By combining real-time inventory management with knowledgeable in-store staff, retailers can create a much smoother shopping experience and build stronger customer trust.
Thanks for sharing this informative perspective on solving one of retail's most important operational challenges! 👍