How AI is Transforming the Retail Sector

How AI is Transforming the Retail Sector

AI is redefining the customer experience in retail, from AI-powered demand prediction to pricing optimization tools. 

At ALL IN, ALDO Group—a leading Canadian shoe retailer—announced a partnership with SCALE AI that brings together IVADO Labs, Retailogists and ITL Group to develop a retail and supply chain revenue management system through AI.

The consortium will work together to optimize order fulfillment and markdowns based on forecasted demand and inventory levels. Not only will this improve ALDO Group’s overall supply chain, but it will also act as an intelligent extension of its current retail capabilities.

“For us, it’s really the holy grail of retail,” said Matthieu Houle, CIO of ALDO Group, during a panel at ALL IN.

But it’s not meant to replace workers; rather, it’s aimed at enhancing their work. “In our case, success is based on our people,” he said. That’s why human traits such as creativity and empathy are so important. For example, product designers require creativity to design shoes that will be popular one year from now.

“I like to simplify things and say what AI can do for them is give them superpowers,” said Houle. So, they can spend less time crunching numbers in Excel spreadsheets and focus more on customer-centric activities. “We’re not there to replace the qualities of the human—we’re there to help them focus on their craft and their trade.”

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