In this episode of Retail Maverick, we bring you a webinar that we hosted with CMA|SIMA. The webinar delves into the transformative power of AI in retail with our expert panelists from HIVERY, Brian Ruhaak, and Cole Decker. Hosted by Mike Wilkening from CMA|SIMA, the webinar "Measuring Assortment Impact with AI: Strategy to Execution" explores how AI simplifies complex decision-making, transforming extensive datasets into actionable, low-risk execution plans. The team discusses how AI enhances strategic assortment and category planning, optimizes retail performance, and drives growth through advanced simulation and real-time KPI updates. Tune in to learn about the role of AI in revolutionizing retail, from strategy formulation to on-shelf execution.
Explore how AI solutions are revolutionizing the world of retail on the latest episode of Retail Maverick. Discover the incredible journey of a multinational grocer as it leverages AI to streamline planogram management, enhance in-store performance, and gain negotiation power with suppliers. Learn how AI-driven decisions are shaping the future of retail strategy and efficiency.
Discover how AI and HIVERY Curate transforms new product innovation in retail on the latest episode of Retail Maverick! Dive into a real-world use case where AI-powered insights enable precision in planning, operational efficiency, and even damage control. Learn how to confidently pitch new products to retail buyers backed by data-driven insights, reducing risk and increasing the likelihood of success. Tune in now for a glimpse into the future of retail!
The world of retail optimization comes to life in a dynamic conversation between Russ Hawkins of Agilence and Milena Salmon, host of HIVERY's Retail Maverick show. This podcast delves into the intricacies of the retail landscape and how retail data is reshaping the industry.
Listeners will gain insights into various facets of retail, from table service restaurants to grocery stores and specialty retail. Russ Hawkins discusses the unique challenges faced by different retail environments and the power of data analysis in addressing them.
Key takeaways from this podcast include:
Understanding Retail Diversity: Russ highlights the diversity within the retail industry, encompassing fast food, table service, grocery, self-ordering kiosks, and the consultative approach of specialty retail. Each sector has distinct data utilization needs.
Data Complexity: Russ explores why achieving effective inventory management is an incredibly complex challenge. It involves adapting to local preferences and aesthetics while optimizing distribution and seamlessly integrating online and physical retail.
Enhancing Customer Experience: Overall, listeners will better understand how data analysis is pivotal in enhancing customer experiences and operational efficiency across the retail spectrum.
This podcast provides a comprehensive understanding of the retail industry and how data can help businesses thrive in a constantly evolving market.
In this Retail Maverick Shorts episode, we delve into assortment management and the impact of deletions and additions to your product lineup. Discover how HIVERY Curate's advanced AI-driven insights empower retailers to make informed decisions, optimize their assortment, and enhance customer satisfaction. Key learnings include predictive analysis, risk mitigation, customer-centric approaches, and leveraging data-driven recommendations for strategic category management.
In this episode of Retail Maverick Shorts, we embark on a journey into the world of retail assortment strategy, guided by the power of "What If" scenarios and cutting-edge AI technology. Our expert host delves deep into how retailers and CPG suppliers can harness the flexibility and insights offered by AI-driven assortment strategies.
Listeners will discover the significance of adapting to ever-changing customer preferences, even within a single metro area, and why this flexibility is essential for retail success, especially when dealing with major retail chains like Walmart and Target. We explore how robust data analytics and AI can fine-tune assortment strategies, enabling retailers to make data-driven decisions.
The podcast delves into the capabilities of "What If" scenarios, showing how they allow retailers to simulate changes in packaging, pricing, and more, helping them make informed decisions before implementing changes. Learn how AI can support various retail teams, from Marketing to Sales, in identifying growth opportunities and optimizing assortments.
Discover the hidden gems in your retail assortment strategy with AI-driven insights. Join us to uncover the superpowers that "What If" scenarios can bring to the world of retail.
This Retail Maverick Shorts podcast episode focuses on Product Line Reviews (PLRs) and the role of AI, particularly HIVERY Curate, in overcoming common challenges.
PLRs, crucial for retailer-supplier collaboration, often suffer from transparency gaps, resource limitations for small suppliers, alignment dilemmas, and withheld information.
AI solutions like HIVERY Curate serve as a solution by using data to foster transparency, enabling real-time simulation of shopper strategies and outcomes. It aids small suppliers by understanding shoppers and highlighting products effectively. Acting as a retail GPS, it guides alignment by suggesting growth paths based on data-backed insights. With AI's assistance, collaborative scenario planning becomes possible, driving informed decisions.
The podcast highlights the transition towards data-driven solutions, where AI tools like HIVERY Curate initiate productive discussions, benefiting retailers, vendors, and shoppers alike.
In this episode, we're unveiling the transformative potential of AI tools like HIVERY Curate in driving growth strategies. Imagine predicting outcomes before taking action through scenario analysis. We will cover six (6) use cases specifically.
With AI, we explore diverse pathways and make informed decisions. Hyper-local assortment optimization takes center stage, crafting store-specific offerings that resonate with local shoppers.
AI transforms data into actionable insights, empowering proactive choices in buyer meetings. Embracing a holistic approach, AI aligns brand strategies with category dynamics, creating a rising tide of success for all. Sales teams are empowered with data-backed confidence, strengthening buyer relationships.
Join us as we unlock growth strategies and navigate the retail landscape with AI-powered precision. Tune in to Retail Maverick Shorts and witness the evolution of retail decision-making.
Discover the transformative Edge Assortments Strategy on Retail Maverick Shorts. In the dynamic realm of retail, AI-powered Edge assortments hold the key to optimizing revenue growth and operational efficiency. These strategic selections, identified through AI's data prowess, lie at the edges of traditional assortment plans, impacting business outcomes significantly. With a focus on just a handful of products within a larger assortment, Edge assortments have the potential to deliver impressive revenue gains, elevate consumer satisfaction, and offer a competitive edge. Join us as we explore AI's role in uncovering these hidden gems, empowering proactive decision-making, and facilitating retailer collaboration. The "trailing analysis" concept also shines light on refining future assortments. Tune in to understand how AI is revolutionizing assortment planning, aligning intuition with data science.
Listeners Will Learn:
Discover the captivating world of retail psychology in our latest episode of Retail Maverick Shorts. Unravel the mystery behind "Why shoppers lie" and delve into how cutting-edge AI technology erases the gap between what consumers say and what they do.
Traditional research methods often fall short as shoppers provide incomplete or aspirational responses, creating a challenge for retailers and CPG companies.
Join us as we explore the toothpaste aisle analogy, where stated preferences don't always translate into purchasing decisions. Learn from industry giants like Walmart, who emphasize the critical importance of accurately predicting consumer demand to maintain business success. We'll uncover how AI algorithms, fueled by store-level data, transform decision-making.
By adopting this store-specific approach, businesses can craft tailored assortment plans, unearth growth opportunities, and enhance the shopping experience. Tune in to Retail Maverick Shorts for an enlightening conversation that could reshape your retail strategy
Come and join Milena Salmon, the host of Retail Mavericks, and Penelope Murdoch, the Lead Design Manager at HIVERY, as they delve into the exciting realm of design, AI, and retail transformation. This fascinating conversation covers a range of topics, from taking a holistic approach to design to the shift from digital transformation to AI products. You'll gain valuable insights into the modern retail industry and its evolution.
By listening to this podcast, you will not only gain insight into what it's like working as a designer at HIVERY, but you will also learn:
1. How real-time insights can shape retail, allowing for shelf optimization and operational efficiency.
2. How the importance of a holistic design ensures that products align with the overall service offering and meet users' needs.
3. The unique challenges and opportunities in transitioning from traditional digital design to AI-driven products.
4. The vital role of collaboration, trust, and innovation within teams in fostering creativity and staying competitive.
Welcome to another episode of Retail Maverick Shorts, where we explore key topics in the retail industry.
In this episode, we uncover the importance of optimizing demand transfer at the store level. Traditional approaches relying on national demand transfer curves often overlook the unique dynamics of individual stores.
By leveraging AI and store-level data, retailers can accurately predict demand transfer patterns, minimize cannibalization, and maximize incrementality.
We'll dive into the significance of tailoring assortment strategies to specific stores, using the example of Walmart stores in Miami to illustrate the transformative impact of optimizing demand transfer.
Tune in to uncover why optimizing demand transfer at the store level matters for retail success.
In this episode, we delve into the 'Chameleon Effect' and its impact on consumer behavior across various retail environments. We explore how AI, combined with store-level data, can uncover subtle variations in shopper behavior and enable more effective strategies. This episode promises to shed light on the intricate relationship between stated consumer preferences, actual purchase decisions, and the imperative of retailer-specific strategies in the fast-paced retail landscape
We all know that the right assortment in the right space and in the right stores can drive the most value. Locally relevant planograms, while in theory, it may sound great; in practice, it can be very time-consuming, and complicated to achieve. This is where AI comes in.
Join Dirk Herdes, VP of Retail, and Jackie Wightman, Sales Director from HIVERY in this CMA | SIMA 45 min hosted webinar to explore how AI is being used to rapidly (minutes not months) determine what is the most efficient cluster count while considering your category goals, merchandising constraints, and impact of demand transference. Fundamentally changing the way consumer packaged goods (CPG) companies and retailers collaborate with regard to assortment and space decisions.
You will learn real practical examples:
Related content you might be interested in:
In this episode of Retail Maverick Shorts, we explore a case study where hunches about shopper behavior, when validated with AI and data analytics, resulted in a transformative retail strategy. We discovered the revenue potential of tweaking pack sizes and transitioning products between different temperature zones. Our experiment led to a 13.7% increase in category revenue and a 9.4% surge for our client's brand. The outcome of our exploration underscores the power of intuition combined with AI in devising effective retail strategies, challenging traditional assumptions, and driving significant growth in the retail sector
Join us in this podcast episode of Retail Maverck as we delve into the intricacies of retail competition. Determining the best product prices involves a complex negotiation between manufacturers and retailers, each with unique considerations and limitations. Our latest blog post examines the dynamics of price negotiations, trade incentives, and their effects on consumer behavior. You'll gain insight into the challenges manufacturers face, the difficult choices they must make, and how AI can assist you in navigating this landscape. Find out more about retail strategy and price dynamics in this informative discussion.
Welcome back to another episode of Retail Maverick Shorts! Today's short, we will explore how leading CPG brands have leveraged AI capabilities to inform price pack architecture and optimize their product portfolios across multiple retailers. By leveraging store-level data, AI allows businesses to make informed decisions, enabling them to create locally relevant, efficiently merchandised, and operationally streamlined plans. This powerful tool has allowed CPG brands to optimize their portfolios across various retailers, making informed decisions that drive retail success. AI-driven models such as HIVERY Curate help businesses optimize their assortments and reduce supply chain complexities.
Welcome to Retail Maverick Shorts! In today's episode, we explore how Tyson Foods, a leading multinational food corporation, used AI to uncover an additional $1.5 million opportunity. Faced with the challenge of expanding new product innovations without negatively impacting established national brands in Target stores, Tyson Foods leveraged AI to simulate and compare different strategies. The AI-driven analysis helped rebalance their current portfolio, protecting their national brands in the frozen meat category while maximizing distribution for new products. This case study demonstrates the power of AI in navigating the complexities of category management and adapting to changing market dynamics. Listen in to learn how Tyson Foods achieved faster mutual alignment with Target and executed the optimal assortment strategy using AI.
Are you looking to optimize your store's shelf space for a new product line? In this podcast episode, a team discusses their experience of using AI technology to optimize their shelf space and improve their revenue potential.
By applying merchandising constraints such as "item pairing," the team was able to run five different scenarios to analyze the impact on revenue. Specifically, they focused on item pairing and discovered that it significantly impacted their revenue potential. However, applying product orientation and front-facing rules did not significantly impact revenue potential.
This highlights the importance of taking a data-driven approach to analyzing multiple scenarios to create a final assortment strategy that meets necessary constraints while maximizing revenue potential. With the power of AI technology, you can analyze a greater number of scenarios and discover new revenue opportunities.
If you're looking to optimize your store's shelf space, consider implementing AI technology and a data-driven approach. By doing so, you can make more informed decisions and improve your revenue potential.
In this episode of Retail Maverick Shorts, we explore the Assortment Planning Conundrum and how AI can help retailers strike the perfect balance between store clusters, store-level operations, and consumer-centric assortments. As customer demands variety and convenience continue to rise, retailers are faced with the challenge of meeting these demands while remaining operationally efficient. Hyper-local retailing is becoming increasingly important, and an AI-driven approach to assortment optimization can help retailers achieve a more effective and efficient balance. By analyzing store-level shopper data, retailers can bring consumer-centric assortments to life while meeting business goals and adhering to store-level and national-level constraints and merchandising rules.
