In this article, Abhinav Chandra explains how using AI can improve business processes and sales.
Buying and inventory management automation can help retailers and brands react quickly, reduce markdowns and liquidations, improve customer experience, and drive profit.
The fashion industry has been one of the hardest hit by COVID-19. The unprecedented 32% decline in first half sales year-over-year has not been distributed consistently across categories. Below we present data that details the contrasting fortunes of two categories within fashion – Women’s Jeans and Men’s Sweatpants. We highlight how buying and inventory management automation can help retailers and brands react quickly, reduce markdowns and liquidations, improve customer experience, and drive profit.
Contrasting fortunes of two fashion categories
Below we present how COVID-19’s effect on people’s mobility has had a significant, but contrasting impact, on two fashion categories – Women’s Jeans and Men’s Sweatpants. “Change in people mobility” is defined as the percent change in people’s engagement with retail or recreation activities compared to an average period prior to the pandemic (Jan and Feb 2020).
Key points in this article include:
- Change in sales and people mobility
- Women’s jeans case study
- Men’s sweatpants case study
Read the full article, How AI driven automation can help Retailers and Brands quickly pivot during Covid, on predictsysinc.com.
Umbrex is pleased to welcome David Edelman. After 30 years as a Chief Marketing Officer (at Aetna/CVS) and building consultancy businesses in Digital and Marketing Transformation (with McKinsey, Digitas, and the Boston Consulting Group), I would love to work with others on helping companies in healthcare, fin services, consumer services, and marketing tech/svcs shape their strategic direction, build their teams’ capabilities, and become more digitally agile. I know what it takes from the top strategic level down to the nitty gritty of tech, ops, and creative to get great marketing done.
I am also open to appropriate opportunities on boards, and am currently on two non-profit boards — The Walnut Hill School for the Arts, and the Boston Ad Club — where I serve on the strategy committees, building a future direction for both institutions to expand their impact.
I’ve published in HBR, speak frequently at industry conferences and events, and blog on topics ranging from digital marketing to the Customer Decision Journey. But most importantly, I am also a music fanatic and play saxophone.