- Huw Hughes
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River Island has partnered up with retail intelligence platform Nextail
to roll out AI technology throughout its network of 343 stores across the
UK, Ireland, Asia, the Middle East and Europe.
Having already begun the process of overhauling its IT and data
infrastructures and embracing cloud technology, the British highstreet
retailer will now use Nextail’s software to better stock its stores and
more accurately react to changes in demand.
Nextail clients typically see a 5-10 percent increase in sales, a 30
percent reduction in in-store stock levels and a 60 percent reduction in
stockouts, according to the Spanish company. By using its software, River
Island says it will have “more powerful forecasting and decision-making
capabilities which will enable decision-making at SKU and store-level.”
River Island CIO Doug Gardner, said in a statement: “The main return on
investment of cloud computing, artificial intelligence and automation is
not about cost savings is more about enabling River Island to be an agile
organisation that is able to adapt rapidly.”
Photo credit: River Island
