“Our own retail industry report found that, on average, e-commerce companies using AI enjoyed 18 per cent year-on-year sales growth in 2017, 30 per cent more than those that were not using AI.
The median gross profit margin for companies that use AI, meanwhile, was 50 per cent higher than those who weren’t (48 per cent vs 32 per cent.)
Becoming an AI-driven retailer has also led to a 75 per cent reduction in cost per social click during a recent trial.
The result has been a 27 per cent increase in sales, while also reducing operational costs by 35 per cent.
Our report found that, when companies use AI, the median number of stock days was 43—a 9 per cent reduction on the 47 median stock days of companies not using AI.”
