CPG organizations invest billions in trade promotions every year – typically 15% to 20% of revenues. But results are often lackluster – with as many as 72% of promotions failing to break even. As promotions become more complex, traditional forecasting and promotion-planning systems fall short as they are unable to provide the real-time, accurate insights to help CPG managers understand the big picture.
But the good news is that retail and consumer goods are among the top five industries in which artificial intelligence (AI) is being applied. AI will be a game-changer for promotions planning. This white paper examines seven areas where AI can help CPG suppliers and retailers more effectively:
- Plan promotional events
- Measure outcomes
- Make the right adjustments to achieve revenue growth