In today’s fast-paced retail world, staying ahead requires utilizing advanced technologies. Consequently, store analytics and insights driven by AI adoption have emerged as game-changers. For instance, this includes applications such as promotional insights, queue analytics, and heat mapping. Moreover, food and drink CPG companies, department stores, and grocery stores are leading the charge. There’s a revolution in AI-powered store insights.
In particular, we partnered with Nestlé, a leader in the coffee industry, to enhance their product placement strategy. Through the implementation of Mediar’s innovative solutions, Nestlé discovered invaluable insights that significantly improved shopper conversion and sales. Specifically, powered by Computer Vision and AI technologies, Mediar reshaped product placement within stores, resulting in a remarkable 25% increase in conversion.
Mediar: Your Retail AI Partner
Overcoming AI Implementation Challenges
Mediar is at the forefront of the AI-driven future of retail, effectively addressing the top challenges in AI implementation. In addition, leveraging its extensive database spanning over more than 100 million shoppers’ experiences, Mediar collects vast amounts of shopper trips, sales baskets, and conversion funnels from various store locations daily. As a result, this wealth of data enables Mediar to generate actionable insights into the best locations for optimal product performance.
Nestlé’s Challenge
Nestlé aimed to test the optimal location within stores for launching a new product. Specifically, the product was positioned in two different locations – milk and coffee sections.
Mediar’s Approach
Computer Vision
The transformative journey began with the application of Computer Vision, a revolutionary technology enabling a comprehensive analysis of physical retail spaces. In fact, this technology can identify patterns and opportunities that often elude traditional methods. For Nestlé, Computer Vision revealed an essential revelation: positioning the new product in the dairy section of stores yielded the most promising results.
AI-Generated Synthetic Data and Machine Learning
Furthermore, to enhance decision-making, Mediar utilized AI models to generate synthetic data. As a result, this not only improved the quality of the learning database but also provided a simulated environment for testing various scenarios. By leveraging synthetic data, Mediar ensured a more robust and comprehensive understanding of the potential outcomes associated with different product placements. Additionally, Machine Learning, another vital component of our approach, enabled the AI to analyze data and generate insights that closely resembled human thinking. Consequently, these insights offered a clear roadmap for improving shopper conversion and sales, equipping Nestlé with actionable strategies to enhance their product placement.
Results
As a result of the implementation of Mediar’s innovative approach, the results yielded were outstanding for Nestlé. Specifically, the strategic product placement in the dairy section, guided by Computer Vision and AI insights, resulted in a remarkable 25% increase in conversion. Consequently, this remarkable achievement further solidified their position as a leader in the coffee category.
Conclusion
In summary, Mediar continues to lead the charge in revolutionizing retail strategies through AI-driven store analytics and insights. By partnering with Mediar, retailers can overcome AI implementation challenges and unlock the full potential of AI in retail. Therefore, are you ready to revolutionize your AI-powered store insights? Partner with Mediar today and embark on a journey towards enhanced store analytics and insights.