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Fashion retailers cottoning on to the benefits of AI

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Two separate research studies, funded by Apptus and carried out by IMRG and Hive, have found that fashion retailers are planning significant investment in artificial intelligence (AI) over the next two years, as they seek to deliver the'real time relevant' customer experiences that are vital to improving sales performance. The study carried out by Hive found that, though retailers plan to invest in AI in a number of areas – online merchandising and personalisation are clear priorities. Asked to identify the areas of their businesses that will benefit the most from automation in the coming 3-5 years, scoring each out of 10, they awarded personalisation a score of 7.9 and online merchandising: 7.8. By contrast customer service scored five out of ten. Why AI? Fashion retailers' race to adopt AI is driven by a growing realisation that the current, manual approach to online merchandising and product exposure is delivering diminishing returns.


London Fashion Week: Make the most of visual merchandising

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It won't be long before the globe's biggest fashionistas are back in town to hit the catwalks of London Fashion Week. With over 5,000 industry press and buyers likely to attend, and hundreds of luxury labels showing their wares, it's a major event not only for industry insiders, but for shoppers and fashion lovers alike. Orders placed during the week alone often exceed £100 million as consumers get inspired to experiment with fresh new looks which emerge during the shows. This offers a massive opportunity for both luxury and fast-fashion retailers when it comes to increasing sales. But making the most of it demands a carefully executed strategy which combines the best of both technological innovation and creative control.


An introduction to AI-powered ecommerce merchandising

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Amazon has been using algorithms to try to sell you extra stuff for years. But the technology to personalise merchandising, much further than recommendations, is advancing rapidly across ecommerce. Companies such as Sentient and Apptus and their AI-powered systems are changing site search functionality, product lists, facets and more, to try to generate more sales. I caught up with Sören Meelby, VP Marketing at Apptus, to get an introduction to the technology (Apptus eSales), and to pose some questions about the user experience in online retail. Sören Meelby: Each and every sort order typically follows a logic or business rules and'most popular' is fairly straight forward.


In a COVID-19 world, Artificial Intelligence is tailoring a perfect fit for the fashion industry

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The $2.5 trillion fashion industry seems vulnerable to a long drawn out recovery, due to the discretionary nature of consumer spending on clothes. Retailers will now experience first-hand, the need for a digital-first mentality to even stay afloat. Empowered by AI insights, designers, merchandisers and buyers could soon predict customer preferences, way before they become fashionable. Even before the coronavirus pandemic crashed the global economy, disrupting supply chains and stalling consumer demand, the fashion industry was not looking forward to walking the 2020 ramp. Headwinds such as slowing demand, rising competition, shifting demographic-driven preferences and the rising carbon footprint of fast fashion, were already hanging over the sector's head.


Three Quarters of Fashion Retailers Will Invest in AI Over the Next 24 Months - insideBIGDATA

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Two separate research studies, funded by our friends Apptus and carried out by IMRG and Hive, have found that fashion retailers are planning significant investment in artificial intelligence (AI) over the next two years, as they seek to deliver the'real time relevant' customer experiences that are vital to improving sales performance. The study carried out by Hive found that, though retailers plan to invest in AI in a number of areas – online merchandising and personalisation are clear priorities. Asked to identify the areas of their businesses that will benefit the most from automation in the coming 3-5 years, scoring each out of 10, they awarded personalisation a score of 7.9 and online merchandising: 7.8. By contrast customer service scored five out of ten. Swedish fashion brand, Stayhard, has already embraced AI, and seen significant return on its investment.