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Retail

AI can help retailers understand massive customer data in a coherent manner and shift to an optimal strategy.

Introduction

Re-inventing the Retail Game With AI

Retailers have an urgent need to reimagine their traditional models and continuously innovate with the times, with AI leading the advancing charge. Tech Mahindra’s AI-First approach helps retailers understand the new-age consumer trends better, get accurate forecasting analytics, and free up more person-hours to redirect on new avenues of interest. Our AI-based solutions for retail customers have been able to reduce turnaround time by up to 70% and TCO up to 40%.

  • Relying only on time-intensive and expensive manual content creation could cause delays in product launches and web updates
  • Different stores globally have manual/thermal-based footfall counting systems, giving scattered data without any details about their demographic
  • Markets are becoming increasingly volatile, with brand loyalty being driven by convenience rather than price, and the highly unstructured retailer-level data and inventory issues are affecting their supply chain
Tech Mahindra Services
  • Automated content generation, accurate AI product tagging and customisable workflow management in an end-to-end modular platform
  • Accurate and detailed footfall information from our vision-based people counting and Demography Identification System
  • Improved forecast accuracy and inventory positioning in real-time
Solutions
  • For a reputed Finnish retailer, our AI first solution provides NLG based one-click-content generation and fast AI product tagging
  • For India’s largest watch maker, our computer vision-based solution helps optimise the store strength and increase conversions
  • For a global food major, our AI forecasting models help reduce stock-outs, lost sales

Solutions and Benefits

  • Solutions
  • Benefits
  • Digital Operations Business

    Quick-changing consumer trends and increasing digitalisation means that retailers cannot solely rely on time-intensive content creation. Our automated solution generates unique content from product attributes, streamlines workflow and automatically tags images, saving retailers the time to focus on what customers value most.

  • Demand Sensing and Forecasting

    For a global food major, the downstream retailer level data was proving to be highly unstructured to base any strategy on. Manual interventions were leading to errors and inventory issues were negatively impacting business. Our AI-First forecasting enabled a central repository for the demand data from more than 4000 distributors, for efficient shelf management and pricing analysis thereon.

  • Out of Stock Prediction

    Employing manual shelf audits for stocking items involve a lot of resource usage and lead to frequent out of stock (OOS) situations, which negatively influence consumer loyalty and lead to huge losses for major retailers. Our AI-First OOS prediction model factors in relevant data like demand, forecasts, re-order points, stock, and item factors like promotion periods, discount type and percent, competitor, etc to accurately identify the top reasons of OOS for retailers.

  • Chatbot

    Our AI-powered chatbots are designed to identify relevent customers and provide them with the required support. Every interaction enhances their understanding of consumer behaviour, enabling them to provide better informed and personalised solutions over mobile, web or social channels.

  • Customer Behaviour Analytics, Personalisation and Frictionless Checkout

    Due to multiple customer touch points, there are many sources of customer interactions. Our AI-powered solution continuously learns and connects that data for better insights and a much better and personalised customer experience. It also leverages video-based data for real-time security and advanced use cases like pick and go (Eg. Amazon Go experience).

  • Digital Operations Business

    1. Reduce turnaround time by up to 70%; TCO up to 40%
    2. Generate 1000+ tags in ~4 hours, 1000+ product content in real time
    3. Streamline process and improve workflow

  • Demand Sensing and Forecasting

    1. Reduce forecast error by up to 45%
    2. Lower inventories by up to 20%
    3. Increase customer service levels and reduce write-offs
    4. Collaborate better across teams for faster decisions
    5. Reduce stock-outs and slow moving inventory by 5-10%

  • Out of Stock Prediction

    1. Reduce out of stock situations
    2. Identify future OOS situations and plan for preventive actions

  • Chatbot

    1. Have a seamless and faster connect with customers
    2. Deliver real-time, instant answers and anticipate future needs
    3. Reduce cost by up to 30%

  • Customer Behaviour Analytics, Personalisation and Frictionless Checkout

    1. Connect one view of customer across the channels
    2. Plan marketing assortment and promotions effectively
    3. Understand customer preferences better
    4. Have advanced real-time alerts for security threats
    5. Frictionless checkou

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