PONTE VEDRA, Fla. – July 9, 2024 – Digital Wave Technology is proud to announce that Lori Schafer, CEO, has been featured in Retail Today's Q2 2024 Executive Roundtable titled "Retail Reimagined: The Power of AI and Strategic Foresight." This edition delves into the transformative impact of artificial intelligence (AI) on the retail industry, specifically its role in revolutionizing operations, enhancing customer experiences, and driving innovation.
In her contribution, titled "AI-Driven Personalization in Grocery E-commerce," Ms. Schafer explores the next frontier for grocery e-commerce, focusing on creating more personalized and engaging shopping experiences. She discusses how leading grocers are leveraging AI and machine learning to improve product data quality, enable dynamic pricing, and predict shopping patterns and preferences. These advancements allow grocers to offer relevant product recommendations and promotions, thereby enhancing customer loyalty and increasing order frequency and size.
Key insights from Ms. Schafer's article include:
Improving Product Data Quality: AI is used to validate product attributes, complete missing data, and correct inaccuracies, ensuring comprehensive and accurate product information.
Enhancing Customer Experiences: With precise data, grocers can offer sophisticated experiences like "Shop by Diet," helping customers find foods that align with their lifestyle choices.
Creating Personalized Offers: Personalized offers and targeted deals create customized shopping experiences tailored to individual preferences.
Facilitating Demand Planning and Category Management: Accurate data enables robust demand planning, category management, and dynamic price optimization.
Optimizing Supply Chains: Understanding product trends helps optimize supply chains, enhancing efficiency and reducing costs.
"AI and machine learning are revolutionizing grocery e-commerce by improving product data quality and enabling dynamic pricing," said Lori Schafer, CEO of Digital Wave Technology. "These technologies allow grocers to offer personalized product recommendations and promotions, which enhances customer loyalty and increases order frequency and size. Forward-thinking grocers are using AI to create a smooth, personalized shopping experience while optimizing their backend operations. They’re setting a new standard for the industry."
Retail Today's Q2 2024 Executive Roundtable serves as a call to action for retail executives to embrace AI's potential and rethink traditional paradigms. It highlights the need for agility, innovation, and a holistic approach that integrates technology, sustainability, and consumer-centricity for long-term success.
Digital Wave Technology is committed to supporting retailers in their digital transformation journeys, providing cutting-edge AI solutions that enhance operations, improve customer experiences, and drive growth.
About Digital Wave Technology
Digital Wave Technology provides turnkey and extensible enterprise AI applications that meet the business-critical needs of global corporations in consumer industries including retail, consumer goods, and healthcare. The company’s single integrated analytical platform offers packaged and extensible applications, as well as the flexibility for rapid development of new solutions, giving customers a competitive edge. Its strategy hinges on relentless innovation and a commitment to delivering unparalleled value through business-use-case-driven technology with impeccable customer service. Digital Wave Technology laid its foundation in enterprise Product Information Management and Master Data Management, which now serves as the common data model underpinning an ever-growing list of best-in-class solutions. Learn more at www.digitalwavetechnology.com.