Impact Analytics and Carters, Inc. discuss demographic shifts, changing compositions, weight loss drugs and forecasting with immense data.
There is a lot of change happening in America today, and retailers are right in the middle of it all.CEO Summit Prashant Agrawal, chief executive officer of Impact Analytics, and Ben Pivar, senior IT adviser at Carters Inc., took the stage to discuss the trends shaping tomorrow and AI solidifying as a “must.”In the past year, Impact Analytics spend time conducting research and looking at its clients. The company has clients all across the U.S.
“AI is a must,” Agrawal said. For its part, Impact Analytics helps retailers with merchandising and supply chain solutions from planning to inventory. The company forecasts a million skew store constructs every week with partners including Dollar General, Levi’s and Patagonia, among others. Forecasting, he said, is a foundation of all of Impact Analytics’ products today.
Productivity tools and prompt engineering like Chat GPT, he said, are “going to be the easy stuff.” What he is interested in “is how it might fundamentally change our industry.” Use in images, design and video will require change for the industry. “I’m sure that a lot of people are a little afraid of that, but the future’s coming, and we need to figure out how we integrate into our processes.”
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