Symphony RetailAI Summit: Challenges and Trends in Retail Development by 2025
Retail expects dramatic changes. New retail reality is innovative solutions, omnichannel and personalized marketing. The latest research results and trade trends were presented at the beginning of November at the Symphony RetailAI Partner Innovation Workshop in London. The representative of Penkių kontinentų bankinės technologijos (BS/2), belonging to Penki kontinentai group, Sales Manager Emil Musayev took part in this event.
“The purpose of the annual Symphony RetailAI partners meeting is to discuss cooperation and presentation of the company’s development and its products. This year’s themes were the latest trends in the market and the improvement of the quality of relations between trade organizations and their clients. According to the company’s forecasts, the retail trade will completely change by 2025,” says Emil Musayev.
According to him, the first evolutionary presuppositions are the growing popularity of online shopping and e-commerce. Traditional stores lose buyers. Seasonal frequency increases every year. Retailers offer new promotions to keep and attract customers. Today’s growth driver for companies is customer orientation and ensuring their high satisfaction.
The main research tool of Symphony RetailAI is customer behavior analysis. Representatives of the company consider omnichannel and personalized marketing as the main keys to increasing retailers’ sales efficiency and consumer packaged goods producers. Symphony RetailAI considers that the prerequisites for success in the market are innovative functional solutions, new products, and high-quality awareness of the market’s specifics. Modern personalized and targeted marketing steps help increase retail sales by up to 60%.
Within the event’s framework, in which key persons of 19 companies from Lithuania, Russia, Ukraine, Italy, Romania, Spain, Poland, Holland, and other countries took part, seminars and presentations were held. BS/2 received confirmation of Symphony RetailAI partner status. The companies reviewed plans for further collaboration.
“Cooperation with the Symphony RetailAI makes it possible to provide customers with a whole range of services for the retail business automation. From our side, the executive part of the system – cash registers, electronic shelf labeling, price checkers, etc. A functional intellectual component is Symphony RetailAI. We value our partnership, which opens up new horizons for business development,” says Emil Musayev.
Symphony RetailAI is the leading global provider of Artificial Intelligence-enabled decision platforms, solutions, and customer-centric insights that drive validated growth for retailers and CPG manufacturers, from customer intelligence to personalized marketing and merchandising and category management, to supply chain and retail operations. Symphony RetailAI announced its formation in 2018, merging Symphony GOLD and Symphony EYC.
Symphony RetailAI Partner Innovation Workshop 2018 in London