AI-powered demand sensing technology is unveiled by IKEA.
IKEA's omnichannel approach includes a demand-sensing tool that is crucial for analyzing short-term demand patterns.
With the introduction of its demand-sensing technology powered by artificial intelligence (AI), IKEA has taken a big step towards revolutionizing the shopping experience for its customers.
This demand sensing technology was created as part of a three-year collaboration between IKEA Systems, IKEA Retail (Ingka Group), Blue Yonder, and important stakeholders, according to Ingka Group, the main operator of IKEA stores.
One of the main components of IKEA's omnichannel approach is demand sensing technology, which looks at short-term trends in the retailer's product demand.
These trends span several channels, including price, market developments, consumer insights, localized weather reports, advertising, and other external economic variables. IKEA can accurately track client preferences over time with the use of this tool.
It adjusts to fluctuating variables to improve forecast precision and support colleagues in their daily responsibilities.