Peter Townsend on AI Analytics Driving Retail Strategy and Growth
Peter Townsend on AI Analytics Driving Retail Strategy and Growth
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Why managing AI risk presents new challenges
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The difficult of using AI to improve risk management
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How to bring AI into managing risk
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Pros and cons of using AI to manage risks
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Benefits and opportunities for risk managers applying AI
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In this episode, we sit down with Peter Townsend, Director of Business Development at Infilect, to explore how AI is shaping the retail landscape and helping brands make smarter decisions. Peter shares insights into the emerging field of AI-powered retail analytics, particularly for consumer packaged goods (CPG) and fast-moving consumer goods (FMCG) sectors, where his focus on visual intelligence technologies allows brands to optimize retail execution. His perspective on how brands can more accurately track inventory placement, compliance, and the shopper experience offers a roadmap for businesses looking to elevate their in-store presence.
Peter explains the concept of "ground truth" in retail analytics, emphasizing the importance of accurate shelf data to determine a brand's share of shelf, SKU availability, and competitor positioning. With the advancement of AI image recognition, brands can now access thousands of real-time data points about product placements, transforming how they measure and respond to in-store conditions. He shares how Infilect�۪s solutions give brands like Procter & Gamble and Kraft Heinz visibility into essential data like shelf positioning, competitor adjacency, and eye-level placement���essential factors for driving sales in high-traffic stores.
The conversation also highlights the operational challenges and opportunities for CPG companies navigating today�۪s complex retail environments. With consumer decision-making constantly evolving, Peter describes how AI allows brands to shift from an outdated, one-size-fits-all approach to planograms to a more tailored, store-specific model. This shift to dynamic planogramming has helped major brands monitor and adapt product placement for maximum effectiveness, addressing issues like inventory distortion and placement consistency. As Peter shares, these data-driven insights enable brands to refine merchandising strategies, ensuring that customers can find products exactly where and how they expect.
Toward the end of the discussion, Peter dives into the art of client development in this niche market, emphasizing the power of use cases and ROI-driven examples. He also shares the strategies that work best for connecting with brands interested in these technologies, including partnering with retailers and utilizing syndicated services to reduce barriers to entry for clients. Lastly, Peter reflects on his experience in the industry, offering advice on maintaining focus, building trust, and scaling successful projects. This episode is packed with valuable takeaways for anyone interested in AI applications in retail and practical strategies for improving retail execution.
Contact Peter Townsend via email at peter@Infilect.com or www.linkedin.com/in/peter-townsend-the416/. To reach Devon and his team, visit nextgengrowth.com.
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