19 MEMBERS ’ CORNER PHILIPPINE RETAILING
BER MONTHS ' BOOM : HOW AI OPTIMIZES RETAIL STRATEGIES
By Donald “ DJ ” Felbaum , Head of Sales for the Philippines at RELEX Solutions
In Filipino culture , the anticipation and excitement for the holiday season start early . The ' Ber months "— September to December — are traditionally associated with the festive spirit of the holidays . Monthly sales surge during this time , peaking on repeating dates like 9.9 , 10.10 , 11.11 , and 12.12 . However , the challenging economic conditions continue to push Filipinos towards cost-saving measures .
As consumers leverage omnichannel to save , Filipino retailers face challenges in manual inventory . and promotion planning . With the emergence of technologies like ChatGPT , retailers must consider artificial intelligence ( AI ) -powered solutions to streamline these processes and drive growth .
AI can revolutionize retail operations by enhancing data quality through the integration of company databases and real-world insights . This customized and precise data foundation empowers retailers with a clearer understanding of their data ' s potential impact . Consequently , retailers can significantly enhance various aspects of their operations , such as precise demand forecasting ,
increased profits and minimized losses .
E-commerce surged during the pandemic , but in-store shopping remains strong for its immediacy and quality assurance .
the best deals . However , for retailers , determining prices and traditional approach of A / B testing promotions can occasionally
promotional planning is frequently carried out manually , there is a significant risk of inadvertently setting low-profit margins , ultimately reducing overall profitability .
Consumers are also increasingly engaged in bulk buying for savings . This requires robust inventory management that meets the rising demand and replenishes the stock accordingly . Retailers have to determine the optimal discount for bulk purchases while balancing profitability and operational margins . Tailored promotions to cater to bulk buying customers may also be explored to increase competitive advantage .
EVERYBODY WHO IS A SOMEBODY IN THE RETAIL INDUSTRY IS HERE .
JOIN THE PRA . Home to the Philippines ’ MOST ADMIRED and MOST PROMISING RETAILERS .
philretailers . com ProudlyPRA Philippine Retailers Association ( OFFICIAL ) Philippine Retailers Association