Vend unveils new AI tool for retail stores

23 November 2017 (Last Updated November 22nd, 2017 14:43)

New Zealand’s Cloud-based point-of-sale and retail management software company Vend has launched a new artificial intelligence (AI) tool for retail stores.

New Zealand’s Cloud-based point-of-sale and retail management software company Vend has launched a new artificial intelligence (AI) tool for retail stores.

The new Dott tool is part of the Vend Platform and is aimed at enabling retailers to make improved decisions about their stores and pursue growth.

The tool understands retailers’ businesses and their utilisation of the Vend Platform by analysing sales, product, customer and inventory information in real-time.

“The tool is anticipated to deliver insights on new product trends or customer behaviour.”

Vend founder Vaughan Rowsell said: “We wanted to simply present Vend as if you had a partner in your retail business that greeted you everyday and was keeping an eye on things 24/7, making really smart suggestions on what to do next to grow.”

Vend also intends to use Dott to develop insights for small and medium retailers.

The company’s customers can receive personalised suggestions, including on ways to engage with customers and retain them, as well as maintaining the inventory to ensure the right products are in stock.

Dott will also develop understanding industry-wide trends from retailers who are using the Vend platform.

Thereafter, the tool is anticipated to deliver insights on new product trends or customer behaviour.

Retailers are also expected to receive reminders to replenish stock or fulfil an order, or analyse sales trends and suggestions on promotions targeting customers.