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Benefits to Decathlon
Xinyi Wu
Created on February 18, 2023
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Transcript
Personalised experience
Decathlon can enhance its customers' shopping experience by adopting AI-based algorithms that provide personalised product recommendations. With insights from customers' purchase history and search patterns, AI can suggest products that increase the likelihood of purchase, generating more sales for Decathlon. AI-powered personalisation can improve customer retention, leading to repeat purchases, word-of-mouth referrals, and higher customer loyalty. (Raitaluoto, 2023)
Better inventory management
AI can help Decathlon's inventory management by providing insights into customer preferences and demand, allowing the company to produce products that align with customers' interests. This can help to reduce overstocked items and increase profitability. AI can also improve inventory forecasts, preventing stock shortages and ensuring customers can access the needed products on demand. (Polonioli and Hunt, 2023).
More accurate products research and development plans
Decathlon may use AI technology to help develop new products and improve existing ones (Mailchimp, n.d.). AI may assist Decathlon in identifying what customers like and dislike about its products, as well as what new products they are seeking for. By gathering and analysing data from many sources, including customer comments, online app feedbacks, and customer interactions on the website. These sources can be used to conduct more accurate product researches and development plans.