dunnhumby Unveils AI-powered Assortment Solution for Localized Assortments Based on Customer Preferences
July 01 2024 - 8:07AM
Business Wire
- dunnhumby Assortment tool uses advanced AI to create
customized, customer-centric and space-aware product
assortments
- Tesco using dunnhumby's advanced AI tools to improve customer
shopping experiences through smarter product selection
dunnhumby, the global leader in customer data science, today
launched its next-generation assortment solution, harnessing
cutting-edge AI to revolutionize how retailers select products.
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the full release here:
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dunnhumby Assortment tool uses advanced
AI to create customized, customer-centric product assortments and
space-aware planograms (Photo: Business Wire)
New features unveiled in dunnhumby Assortment include:
- Localized assortments: Retailers can now deliver
hyper-localized assortments tailored to the unique preferences of
their customer base, enabling a truly localized shopping
experience.
- Space-aware assortments and planograms: A new integrated
planogram tool optimizes layout and facings, giving shelf-ready
layouts based on customer behavior insights. The tool automatically
accounts for merchandising rules, physical constraints, and local
health and safety restrictions, ensuring retailers can implement
planograms with confidence knowing they will work seamlessly on the
shelf.
- A streamlined, end-to-end process: The end-to-end
solution increases efficiency by enabling collaborative input from
multiple teams throughout the assortment process, saving valuable
time and resources.
“In today’s dynamic retail landscape, keeping up with customer
expectations while outpacing local competition is crucial,” said
Jenn Dabbelt, Global Head of Product, dunnhumby. “Our new
Assortment tool, powered by advanced AI, allows retailers to build
store-specific assortments centered on what the customer wants.
This supercharges retailers’ ability to deliver by streamlining the
entire process from end to end, helping them bring to life
exceptional experiences for customers.”
Advanced AI powering the future of assortment
The new tool uses advanced AI, employing predictive analytics to
quantify which products should be selected for which stores, before
forecasting the impact of assortment changes across every
location.
- Hyper-localization AI: Certain products perform better
in some stores than others - protein shakes sell well in stores
near gyms, for example. Advances in dunnhumby’s AI means that
retailers can now determine which products to select in more
intelligent ways. By looking at the relationships between products
and stores, advanced recommender systems can detect relationships
and highlight opportunities with a much lower risk of error. That
leads to better decision-making – and a better experience for
customers.
- Planogram AI: By learning from existing planograms and
customer behavior, retailers can use AI to choose assortments that
optimize sales potential through space on the shelf. Not only does
that save retailers’ time, but it also ensures that layouts are as
intuitive as possible for customers.
- Predictive AI: Accurate predictions are crucial to
building a successful assortments. Predictive models show what will
happen to customer demand when products are introduced to – or
removed from – an assortment. For example, removing a certain pack
size or flavor of cookie will not necessarily reduce category
revenue by its full sales value. dunnhumby’s AI lets retailers
understand how much of those sales would transfer to a similar
remaining product in the assortment, creating a more accurate
forecast.
Julie Sharrocks, Head of Retail AI, dunnhumby explained:
“Retailers need to be able to understand customer needs – and which
products are most likely to satisfy them – quickly and at scale.
With decades of refinement behind them, the AI tools, and
techniques that we’ve built in dunnhumby Assortment now allow
retailers to do exactly that.”
AI-driven ranging at Tesco
Partnering with dunnhumby, Tesco is using Assortment's AI
capabilities for assortment curation. This data-driven approach
will enable Tesco to provide locally relevant assortments,
improving the shopping experience, and ensuring customers are able
to find the right products in the right stores.
For more information about dunnhumby Assortment visit
www.dunnhumby.com/dunnhumby-assortment.
Upcoming Complementary Webinar on dunnhumby’s Assortment
Solution
dunnhumby will be offering a webinar on Assortment AI on July
10, 2024 at 11 AM CDT. Online registration is available at
https://bit.ly/4ckvee3
About dunnhumby
dunnhumby is the global leader in Customer Data Science,
empowering businesses everywhere to compete and thrive in the
modern data-driven economy. We always put the Customer First.
Our mission: to enable businesses to grow and reimagine
themselves by becoming advocates and champions for their Customers.
With deep heritage and expertise in retail – one of the world’s
most competitive markets, with a deluge of multi-dimensional data –
dunnhumby today enables businesses all over the world, across
industries, to be Customer First.
The dunnhumby Customer Data Science Platform is our unique mix
of technology, AI, software and consulting, enabling businesses to
increase revenue and profits by delivering exceptional experiences
for their Customers – in-store, offline and online. dunnhumby
employs over 2,500 experts in offices throughout Europe, Asia,
Africa, and the Americas working for transformative, iconic brands
such as Tesco, Coca-Cola, Meijer, Procter & Gamble and
Raley’s.
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