The “ber months”—September to December—are traditionally associated with the festive spirit of the holidays, and both consumers and retailers are caught up in a holiday frenzy that is tiring and exhaustive.
A recent study by RELEX Solutions revealed that Filipino consumers are expected to persist in seeking cost-saving measures especially during the “Ber Months”.
“As consumers leverage omnichannel to save up, Filipino retailers face challenges in manual inventory and promotion planning for both online and in-store,” said RELEX Solutions Philippines head of sales Donald Felbaum.
E-commerce surged during the pandemic, but in-store shopping remains strong for its immediacy and quality assurance. Consumers now compare prices both online and offline to find the best deals.
However, for retailers, determining prices and crafting effective promotional offers can be challenging.
RELEX said retailers can optimize operations by leveraging retail operations to AI, enhancing data quality through the integration of company databases and real-world insights. The customized and precise data foundation empowers retailers with a clearer understanding of their data’s potential impact.
“With the emergence of technologies like ChatGPT, retailers must consider artificial intelligence (AI)-powered solutions to streamline processes and drive growth,” Felbaum said.