In this episode, Matt Mueller interviews Maximilian Anderson, founder of SKUMAX, about how AI is transforming retail, particularly for small businesses. They discuss the importance of real-time inventory tracking, the emotional impact of data on retail owners, and the potential for small businesses to lead retail innovation. Maximilian shares success stories from clients who have improved their profits by addressing stale inventory and emphasizes the need for curiosity and playfulness in leadership. The conversation also touches on the future of retail and the collaboration opportunities with larger retailers.
Takeaways:
- AI is changing the landscape of retail.
- Small businesses can lead retail transformation.
- Real-time inventory tracking is crucial for profitability.
- Curiosity and playfulness are essential traits for leaders.
- Data should evoke emotional responses to drive action.
- Understanding inventory health can significantly impact profits.
- Item velocity is key to retail success.
- Big box retailers can learn from small business agility.
- Technology must catch up to innovative ideas.
- The future of retail involves digitization and real-time data access.
Chapters:
00:00 Introduction to SkewMax and Retail Innovation
04:03 The Spark Behind SkewMax
07:35 The Role of APIs in Retail Transformation
10:05 Client Success Stories and Emotional Insights
17:05 Turning Data into Actionable Insights
20:09 Learning from Small Businesses
24:31 Future Collaborations and Innovations
Learn more about SKUMAX: https://skumax.app/
Thanks for checking out this episode of innovate ON purpose.
Learn more about Matt Mueller here:
1. Website: https://themindfulinnovator.com
2. LinkedIn: https://www.linkedin.com/in/mattmuellerinnovation/
3. Facebook: https://www.facebook.com/Matthew.F.Mueller/
4. Instagram: https://www.instagram.com/mattmuellerinnovation/
5: Twitter: https://twitter.com/MattMuellerInv8
6. TikTok: https://www.tiktok.com/@mattmuellerinnovation
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