FIND INNOVATION LABS LAUNCHES “FIND TURNS”.
Industry’s first AI and machine learning retail suite that uses personalized contents to optimize inventory turns, reduce markdown.
Shop.org, Las Vegas, NV – September 12, 2018, FIND Innovation Labs Inc., today announced the launch of FIND Turns™, the latest addition to the FIND Retail Suite™ which utilizes proprietary AI technology to curate personalized content enabling brick and mortar retailers to connect the most relevant shoppers to each item in stock. Retailers use FIND Turns™ to optimize inventory turns and very importantly, to rapidly sell through excess inventory without the need to offer deep markdowns. The company, which prides itself on creating unique AI machine learning analytics that address real business needs of leading apparel, accessory and lifestyle retailers, are introducing the product to retailers across North America.
“We are thrilled to be introducing FIND Turns™ at Shop.org to showcase how approachable it is for brick and mortar retailers to harness the power of advance artificial intelligence and machine learning,” said founder and CEO of FIND Innovation Labs, Poya Haghnegahdar. “The simplicity of the FIND Turns™ interface is akin to the first Google search website. Whereas the Google site had a single field in which to type in a search query and the algorithms found the best search result, FIND Turns™ simply requires the retailer to enter a product SKU and FIND’s algorithms finds the shoppers most likely to purchase that item. Thus enabling the retailer to sell through their inventory more rapidly while protecting margins.”
FIND Innovation Labs has been offering a full suite of personalized loyalty tools to enable brick and mortar retailers to more effectively know and engage their shoppers. FIND Turns™ is the newest addition to the FIND Product Suite™. The company revealed that Sterns Partners has agreed to tap the company to employ the FIND Turns™ and the FIND Retail Suite™ across their numerous apparel and home furnishing banners in October of this year.
Peter Roberts, Vice President of Technology for Sterns Partners had this to say, “We are delighted with the relationship we are building with FIND Innovation Labs and look forward to introducing FIND to our banners. It seems clear the FIND Retail Suite™ can enable companies to rapidly incorporate machine learning data analytics into their existing workflows. Armed with enhanced access to their data, they will be able to progressively gain deeper insights and closer connections with their shoppers, leading to more frequent store visits, larger basket sizes, faster inventory turns and reduced overstock.”
The FIND retail suite empowers brick & mortar retailers with the same technological tools that has made online retail very successful. The company also reports retailers appreciate the fact that similar to an online recommendation engine, the FIND Retail Suite™ can be rapidly deployed within legacy sales environments.