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How Retailers Can Use Technology To Cut Costs (Not Corners)

Mar 28, 2025 - forbes.com
The article discusses various technology-driven strategies that retailers can adopt to reduce costs while maintaining high-quality customer experiences. Key strategies include consolidating package delivery by zip code to cut shipping costs, implementing intelligent virtual store assistants to enhance customer interaction, and embracing AI-first product discovery to streamline operations. Retailers are encouraged to utilize machine learning for data analysis, build on-site infrastructure for retail apps, and leverage AI-driven digital operations and smart warehouses to improve efficiency and reduce overhead.

Additional recommendations include using robotics in the supply chain, implementing cloud-based POS systems, and considering AI-powered dynamic pricing to optimize pricing strategies. Retailers can also automate inventory management with RFID sensors and computer vision, build predictive models using open data, and employ AI-powered OCR for efficient financial data processing. The article emphasizes the importance of AI-driven self-service, combining IoT sensors with robotics, providing hyper-personalized experiences, and deploying AI as an executive assistant to enhance decision-making and operational efficiency.

Key takeaways:

  • Consolidating package delivery by zip code can significantly reduce shipping costs for online retailers.
  • Implementing AI-driven technologies, such as virtual store assistants and dynamic pricing, can enhance customer experience and reduce operational costs.
  • Utilizing machine learning and AI for inventory management and predictive modeling can optimize stock levels and reduce waste.
  • Combining IoT sensors with robotics can streamline warehouse operations and optimize energy usage, cutting labor and energy costs.
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