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.
Amanda Setili was recently interviewed by Colleen Francis on LinkedIn Live where they discussed how the pandemic will improve certain areas of business for the employer, the employee, and the customer.
What a fun and thought provoking conversation with Colleen Francis today. We covered a lot of terrain, including:
– How having a diverse team makes you more resilient in the face of market upsets.
– 3 things you must do to maintain your team’s productivity and enthusiasm when times are tough.
– Six things that will improve as a result of the pandemic:
o How pricing will change
o Why customer-supplier relationships will change for the better
o What new business opportunities and white space will be created
o Why sales productivity and effectiveness will increase dramatically
o How video game companies will lead the way into new remote experiences for businesses.
o Why remote work is here to stay, and why it will improve our outcomes and lives.
– How comfort with uncertainty creates a lasting competitive advantage, now more than ever.
Catch the full interview, Six Things that may Change for the Better, on LinkedIn.
Umbrex is pleased to welcome Glenton Jelbert to our community. Glenton does operational improvement work and data analytics.
He is a lean manufacturing expert, recently helping organizations with everything from factory layouts to complete operational turnarounds. He is also a data expert.
He has a PhD in Physics, and is comfortable in Excel, Access, MySQL, and Python. He uses these tools to gain operational and strategic insights out of messy data and to set up systems to do the same. He is very hands-on, having been the VP of Engineering at a high tech manufacturer for four years.
He lives in Orange County, California.