Struggling to keep pace with modern retailing? Retail is a fast-paced, ever-changing landscape but Retail Express’ Ed Betts explains a better way of doing things that will make all the difference in the year ahead.
Retail success demands more than meeting customer expectations. It requires agility, precision, and a competitive edge both on the shop floor and in the back office. Discovering the ideal retail model can seem overwhelming due to the industry’s constant, complex balancing act of pricing, inventory, promotions, supplier relationships and growth pressures.
Such challenges often rely on time-consuming manual processes, but that doesn’t have to be the way. Algorithmic retailing uses next-generation tools to tackle these industry-wide challenges. A mix of AI, advanced algorithms, and reliable automation can go to work on the retail back end, leaving teams empowered and free to focus on growth and innovation.
Key benefits of algorithmic retailing
Today’s tools allow retailers to operate more effectively. Automation helps reduce manual errors, improving the reliability and value of everything from promotions and marketing to internal statistics. That data becomes sharper, and with tools that can also leverage real-time information, retailers can make confident, quick decisions.
Algorithmic retailing is about maintaining a strategic and tactical advantage in a busy market, one which helps boost sales and profitability while delivering more targeted and competitive offers for customers. With the fight for their attention ever more crowded and difficult, every advantage is vital.
Retailers know, for example, that pricing agility is essential in order to remain competitive while also meeting profitability goals. AI-powered, automated dynamic pricing optimisation tools can help retailers adapt swiftly to market changes, helping reveal the perfect balance between customer value and margin optimisation.
Greater impact, fewer mistakes
Promotions, too, gain significant advantages through the lens of an algorithmic approach. Effective promotions require meticulous planning, coordination with suppliers, and flawless execution. Mistakes, whether in loyalty programs or discounts, can disappoint customers and even risk GSCOP non-compliance. Automated tools, though, make it easy to plan, target, and execute promotional activities with precision, helping connect with customers more effectively and delivering the right programs to target customers.
Retail success is a team effort, and seamless supplier partnerships are key. The connected systems of algorithmic retailing boost communication, enabling transparent and effective collaboration that spans joint business planning to final product delivery. Every interaction and detail is tracked, eliminating a reliance on messy emails and complex spreadsheets. The end result is strengthened strategic alignment with customer needs, sharper monitoring of category performance, and more favourable outcomes against financial and customer benchmarks.
A new direction at any pace
Whether striving to lead in a category or strengthen a specific area, an algorithmic approach gives retailers the necessary insights to support impactful decisions. But adopting advanced retailing solutions doesn’t mean disruption, and neither does it mean that established procedures must be immediately abandoned.
Retailers can adopt algorithmic retailing tools piece-by-piece at a pace that suits them, ensuring seamless adoption without the usual upheaval. Built to support flexible integration techniques and pathways, the best AI-driven tools fit easily into existing systems, making them accessible to both large chains and independent retailers.
Why Retail Express?
Retail Express is more than just software. It’s a comprehensive retail optimisation solution designed to be tailored to the unique needs of individual retail businesses. With flexible, modular features, we support retailers as a long-term partner, enabling growth and adaptability as the market evolves. Our automated workflows, AI-supported decision-making, and streamlined management ensure our customers have the advantages they need to stay ahead of the competition.
With a scalable design that adapts as retailers grow, Retail Express is a trusted partner, supporting agility and alignment with market demands. From day one and throughout the digitalisation journey, Retail Express ensures retailers can pivot confidently and respond to any challenge. By freeing up time to focus on the big picture, we empower business leaders to drive sustainable growth today and long into the future.
Ready to put the AI into your retailing?
Visit retailexpress.com to find out more.
Edward Betts, SVP General Manager – Retail Lead Europe, Retail Express
Ed has worked in the retail industry for over 20 years and joined Retail Express in 2019 where he is General Manager for the UK and Ireland. Ed has extensive and specialty knowledge of retail category management, pricing and buying requirements having worked with several UK retailers, including 8 years at Asda where he developed and launched a standalone online wine service. Following this, he worked for Distell, a large international drinks manufacturer, where he managed strategic accounts across several major UK grocers including Morrisons, Asda and Marks & Spencer. Ed is also Retail Express’ Head Consultant helping clients make more effective use of the products and services as well as providing consultancy on the effective use of pricing and category management.
About Retail Express
Retail Express is a leading provider of merchandising solutions and services for retail, wholesale and consumer packaged goods (CPG) manufacturers. It uses its deep industry understanding and expertise to provide business solutions that meet the evolving needs of merchandising and category management departments delivering improved productivity and enhanced financial results. Through its AI-powered end-to-end Intelligent Merchandising™ solution, Retail Express addresses the complex problems of advertising, marketing, promotions and pricing in retail, providing one version of the truth across the organisation and departments. Retail Express operates out of Leeds, UK, across Europe, North America & Australia. www.retailexpress.com.