Renude wins Best AI Technology Supplier of the Year at the inaugural AI in Retail Awards
This year, Retail Technology Innovation Hub ran their inaugural AI in Retail Awards.
Hosted at the Barbican Centre in central London, the awards were designed to celebrate the latest innovation in AI within the retail sector.
The awards were organized by Scott Thompson and presented by comedian Lucy Porter. There were 19 different categories in total, including Online Retailer of the Year (won by Depop), Inclusive Technology Innovation (won by IKEA), and Technology Implementation of the Year (won by B&Q and Foundit!).
It was clear throughout the course of the evening that the application of AI is making a real impact across the entire retail supply chain. From pricing strategy optimization to customer service, inventory management to smart fridges.
Renude named Best AI Technology Supplier of the Year
Renude came home with the award for Best AI Technology Supplier of the Year, UK and Ireland, for its AI Skin Advisor technology. Amongst the other finalists were Amperity, Eagle Eye, Ocula Technologies and Quorso. The judges' feedback was that Renude stood out due to its inclusion of real subject matter experts — dermatologists, aestheticians and formulation chemists — to create the knowledge base that powers our AI Skin Advisor technology.
Judges included retail experts from across industries, including Paula Bobbett, Chief Data and Digital Officer at Boots; Suhad Grama from Amazon; and Vineta Bajaj, Group CFO at Holland & Barrett.
What this means for beauty brands
For Renude to be selected as the winner of this category is evidence that the customer pain point for beauty is well understood, and that Renude AI Skin Advisor is really solving it. Looking at the commercial impact for this technology across brands like Nip+Fab, Barefaced and Rodial goes to show that when consumers receive the right information at the right time, when intent is high, they will purchase at significantly higher rates and with larger basket sizes.
If you're looking to improve on-site conversion and average order value, you can book a demo of Renude AI Skin Advisor here.
