springbig SBIG announced the launch of its Brands Marketplace Offering. The company’s first artificial intelligence-based solution uses consumer data to help its retail clients make data-driven decisions regarding the brands and products that are offered in their place of business.
springbig designed the Brands Marketplace to enhance the cannabis retail experience for retailers and consumers. The company's data-driven solution tracks pertinent consumer trends within each of its retail clients including time of purchase, types of products purchased and the frequency at which customers buy particular items from said retailer. Using advanced machine learning algorithms, the Brands Marketplace analyzes a customer’s shopping habits and identifies patterns in their behavior, preferences and demographics. Retailers can utilize the trends identified by the Brands Marketplace to make better-informed decisions regarding the brands that will be offered in their stores. The company believes this will in turn yield the greatest return for the retailer and at the same time provide their consumers with the most appropriate product selection
"We are thrilled to introduce our first AI offering, which enables store owners to keep up with the different consumer trends developing day to day," stated Jeffrey Harris, CEO of springbig. "Numerous consumers can regularly cycle through a storefront and purchase dozens of different items, which can be difficult for store owners to track. Fortunately, our new tool will simplify this aspect of business for our clients and help them make decisions that will benefit them and their patrons alike."
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