July 23, 2019
Reduce Carbon Footprint with AI
Want to generate more revenue while saving the planet?
Keeping it personal can lead to
7 min read
When retailers know what and when to buy, and when not to – we waste less.
Climate change has been at the forefront of public discussion and a serious topic of conversation. Sustainable practices have become a focal point in many consumers buying decisions and retailers need to take notice.
The most common practice today for retailers who want to go green is the switch to solar panels or LED lighting in their stores and warehouses. However, these are not the only solutions available. Retailers can significantly reduce their carbon footprint by implementing AI into their planning practices.
Products with sustainability claims generally outperform their respective categories by an average of 3% and brands that are able to strategically connect sustainability to actual business practices can positively contribute to their top line and profits. Customers want sustainable products from sustainable companies.
– Houlihan, 2018
AI is proven to reduce over/under buying and predict ideal allocation.
Reducing over/under buying will ensure a huge surplus of un-purchased clothing is never made or allocated. Predicting ideal allocation means that the right quantity of product is in the right store at the right time, reducing the unnecessary transport trips from the warehouse to store or between stores for consolidation.
Today’s consumers are socially conscious and pay attention to how a retailer operates outside of their brick and mortar stores. Sustainable practices are not only good for the planet but it’s also just good business.