Emart24 introduces AI product selection service

[Courtesy of Emart24]

Emart24 Inc., South Korean retail giant Emart Inc.’s convenience store chain, is set to launch a new artificial intelligence-driven product recommendation service for franchise store owners that leverages big data analytics.

According to the corner store chain, this new service employs AI algorithms to assist store owners in identifying other stores with similar characteristics and recommends products with high sales numbers in these other comparable stores, if they are not already on the shelves in the stores requesting the service.

The service analyzes sales data from each store using AI, selecting 10 similar stores based on product categories and sales proportions. Based on this analysis, it suggests the top 25 best-selling products from the selected stores over the past week.

Emart24 conducted a test operation of the service from August to November 2023, focusing on 17 directly operated stores. The results revealed that 90 percent of the recommended products were successfully sold, leading to subsequent re-orders.

The AI product recommendation service is fed with extensive big data, incorporating over 6 billion daily transaction records and information on more than 80,000 products gathered from Emart24’s stores nationwide.

“The AI product recommendation service will not only contribute to increasing store sales but also assist store operators in enhancing their store management and competitiveness,” an Emart24 official said. The company also has plans to continue providing various services incorporating advanced technologies throughout 2024.