Today, artificial intelligence is quickly rising to the top of most companies “must have” tech list. IDC, a research firm, predicts by 2021, enterprises will spend $52.2 billion annually on AI-related products and services, achieving significant gains from these investments.
Technology has infiltrated every aspect of our lives and today’s consumers possess more internet-connected devices than ever before. Laptops, tablets, phones and smart watches have made our lives easier and our connections more seamless, and this includes the shopping experience.
Regardless of product or industry, pricing strategy is deservedly one of the most deliberated aspects of any business. While many businesses today search for the fabled sweet spot that will easily bolster profits, they oftentimes fall victim to the same old-fashioned pricing mistakes.
Retail supply chains have grown more and more complex, and companies must have end-to-end supply chain visibility to prepare for unexpected changes in demand. As such, retailers should explore practical, relevant ways to predict demand, while continuing to deliver quality, omni-channel consumer experiences.