Supplyai

Description

• SupplyAI | Cognified Commerce - Turn returns into a profit opportunity.SupplyAI is building the worlds 1st AI-powered platform for detection and prevention of retail returns.According to the US Department of Commerce, e-Commerce sales in the US totaled over $97 billion during Q2 2016, representing nearly 16% year-over-year (YoY) growth. The ecommerce retail apparel and accessories sales growth alone is 19 % for 2016.Even though, one of the fastest growing industries a major problem that plagues the retail industry is - RETURNS.Each return costs a retailer an average of ~$28 per product returned. Studies have shown that retailers face up to 25-30 % worth of returns of their total revenue which is mostly written off since there are no clear end to end solutions for predicting and preventing these returns.This year, at SupplyAI, we are helping leading retailers retain an approximate of $60mn of their top line revenue and reduce return rates.Our technology is based on automated machine learning and artificial intelligence giving the retailers a deep insight into consumer shopping behavior thus predicting and preventing their returnsReturnSense, SupplyAI's proprietary algorithm, recognizes patterns in purchase behavior and predicts the likelihood of return on every purchase made, sending a preventative alert to retailers and validates the purchase, before the products are shipped. SupplyAI is currently helping leading brands like Macys, Kohls and Lululemon exponentially improve top-line revenue, recover operational costs and increase customer satisfaction through their solution. Through SupplyAI, retailers can now vastly improve their unit economics while delivering exceptional customer experience.For more information, visit us at www.supply.ai and https://blog.supply.ai/
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  Headquarters:1250 Borregas Avenue #155, Sunnyvale, California, United States

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  Phone Number: +1 650-293-7043

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  Website: https://www.supply.ai

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  Employees:17

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  Revenue:$1 - 10M

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  Legal Name:Supplyai

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• |  NAICS Code: 334614  |

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