Executives from Coach and Impact Analytics discussed embracing AI and insights on post-pandemic consumer behavior, financial uncertainty and the impact of technology.
Prashant Agrawal, chief executive officer of Impact Analytics, believes that retail is an art and a science — and he’s relieved that everyone is finally interested in AI, he said.
“We’ve been very used to doing things that we call selling same as last year,” Agrawal said. “And what happened with COVID-19, is that broke, there is no new normal. There is obviously the pandemic, a broken supply chain, there’s inflation, there’s wars and it’s getting more and more complex.”As an example of these complexities, Agrawal compared retail to changing weather patterns over the years, which have created a need for stock adjustments across both the East and West Coast.
“As businesses grow, we just added another distribution center into our fulfillment network, we need to think differently about Inbound inventory and how to go to the right node to ultimately get to the customer and store as efficiently as possible,” Manheim said. “We’ve really tried to put the customer at the center of everything you do, which has helped us create that decision filter and think about how to best we serve the customer as these challenges come to light.
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