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Can Promoted.ai optimize grocers' supply side by analyzing product insights, conversion drivers, and AOV to offer inventory optimization suggestions?
Andrew Yates
Co-founder & CEO at Promoted.ai
From our technology perspective, that's not something we're focused on. It's something that is revealed in that, if you have a limited supply of a specific item and you can project that into the future, you have three options, and we provide two of them.
One is you can increase the price to lower demand. Two is you can lower the availability. You can keep the price the same, but just not make it as prominent: you basically push it to the back of your store, so to speak, but in app, it would just be less prominently featured. Because fewer people see it, you're going to get lower demand just because people aren't reminded about it as much. Then the third piece is you increase your supply, so you need to project what supply you'll need in the future and order for it.
At least from our product’s perspective, we would help you with the first two. The fact that you're doing those first two would be highly informative for ordering more supply based on projections -- well, perhaps it would be more efficient if you simply had more supply to meet projected demand, and then you wouldn’t have to do either of those first two things to artificially suppress demand.