A partnership between Symphony RetailAI and InContext Solutions will enable retailers to identify, design and test category and store layouts in a virtual environment with the aid of artificial intelligence (AI).
➨ The new partnership will combine Symphony RetailAI’s AI technology with the virtual reality (VR) capabilities of InContext’s ShopperMX platform
➨ The combined solution’s improvements include AI-enabled shelf scores for assortment and arrangement, digital prototyping, and real-time predictive analytics and shopper validation
➨ “Using machine learning to intelligently optimise trade promotion spend and model new layouts with virtual simulation testing presents unprecedented efficiency and confidence”
➨ “Symphony RetailAI and InContext Solutions are able to help retailers create agile store layouts that keep pace with rapidly changing market conditions”
The new partnership will combine Texas-based Symphony RetailAI’s AI technology, which gives retailers the ability to examine and act on buying trends and market influences, with the VR capabilities of InContext’s ShopperMX platform.
Chicago-headquartered InContext helps retailers using VR to streamline the space planning process and drive more effective use of physical store real estate.
The combined solution’s improvements to the physical store planning processes include AI-enabled shelf scores for assortment and arrangement, digital prototyping, and real-time predictive analytics and shopper validation.
Through the partnership, planograms developed using Symphony RetailAI Store Planning and Optimization will be integrated with InContext’s ShopperMX 3D Content & Curation platform to make multi-user VR testing possible.
“Using machine learning to intelligently optimise trade promotion spend and model new layouts with virtual simulation testing presents unprecedented efficiency and confidence for retailers when it comes to incremental resets or significant format redesigns that impact category and store profit,” explained David Rich, executive chairman and chief executive of InContext.
He continued: “We are excited about the opportunity to deliver a unique solution to our combined customer base; a robust planning and optimisation solution that enables an end-to-end experience from demand planning to store execution. In doing so, we’re extending the proven value of our solutions and providing a service unavailable elsewhere in the market.”
Pallab Chatterjee, chief executive officer of Symphony RetailAI, emphasised the benefits that the combined solution will bring to retailers.
He explained: “Historically, retailers have found investment in store-layout optimisation to be prohibitively expensive. However, by virtualising the process of category- and store-planogram design and testing, Symphony RetailAI and InContext Solutions are able to help retailers create agile store layouts that keep pace with rapidly changing market conditions.”
“In addition to saving time and money building new store environments, retailers see instant and measurable impact through improved category growth and customer outcomes, visualized by easy-to-use overlay analytics on performance.”