The holiday selling season is a flurry of activity. Retailers and brands must forecast the products consumers want – and allocate stock – well ahead of Q4. By using artificial intelligence, retailers and suppliers can list products faster while also ensuring that sellers are not left with unsellable stock after the holiday rush. Below are three AI-powered e-commerce strategies that retailers and brands should adopt to stay competitive this holiday season.
“Agility is key to staying competitive in retail e-commerce. With AI-powered tools like Rithum’s AI Magic Mapper, we’re empowering brands to become more efficient, reduce time-to-market, and enhance the customer experience. This holiday season, it’s not just about keeping up, it’s about leading the way in innovation and efficiency with real results,” said Lou Camassa, Director of Product Management at Rithum.
1. Use AI-powered smart inventory management
Sellers must balance meeting increased consumer demand while avoiding an overstock of items that may not sell. Using AI, smart inventory management can be the solution to this problem.
Rithum’s Advanced Catalogue Services helps retailers automate item setup and management. This reduces the time it takes to get products from suppliers to consumers. AI-driven predictive analytics can enhance demand forecasting by identifying potential best-sellers, reducing the risk of overstocking.
AI Magic Mapper also supports channel expansion with smart inventory management. It automates the process of aligning products with marketplace categories. AI Magic Mapper can significantly reduce the time it takes to get products from the supplier to the consumer.
Technologies like near-field communication (NFC) and radio frequency identification (RFID) also play a crucial role in tracking and managing stock levels in real-time, allowing retailers to respond quickly to shifts in consumer demand.
With AI-powered tools like Rithum’s AI Magic Mapper, we’re empowering brands to become more efficient, reduce time-to-market, and enhance the customer experience. This holiday season, it’s not just about keeping up, it’s about leading the way in innovation and efficiency with real results.
– Lou Camassa, Director of Product Management at Rithum
2. Optimise multichannel selling strategies for speed and scale
AI is crucial for retailers and brands that want to optimize their online marketplace presence and accelerate time-to-market during peak shopping periods. These technologies help streamline product onboarding as well as enhance search and discovery capabilities. Using AI-powered tools, sellers can quickly identify and onboard new suppliers. This allows sellers to expand their virtual inventory with similar products and reach a broader audience through a multichannel selling strategy.
Rithum’s Unified Commerce Solution offers tools that help retailers map products across multiple selling channels automatically. This is particularly valuable during peak shopping season when consumers are likely to browse multiple websites before making a purchase.
3. Enhance customer experience from sale through returns process using AI
AI and machine learning can be used to enhance the customer experience from initial sale to the returns process. Retailers can use AI to dynamically adjust pricing, create strategic promotions, and bundle relevant products together. These capabilities not only improve the shopping experience but also give sellers a competitive edge.
Using AI Magic Mapper, sellers can analyze key metrics including SKU performance, average order value (AOV), and return reasons. By understanding these metrics, retailers can better forecast return rates and adjust their strategies accordingly throughout the holiday season.
With tools like ACS and AI Magic Mapper, sellers can better manage inventory, optimise multichannel selling strategies, and enhance the overall customer shopping experience. Schedule a demo today.
