LIWA to make “huge advances” in tech transformation

Abu Dhabi based retail company LIWA Trading Enterprises, a subsidiary of Al Nasser Holdings LLC, aims to make “huge advances” in the way it uses technology to drive business growth.

LIWA – which operates a portfolio of global and homegrown brands – has already achieved several significant tech-based milestones in 2024. For instance, it has started leveraging AI (artificial intelligence) to predict trends, manage demand forecasting and tailor marketing strategies to better understand evolving consumer preferences.

“We have embarked on a journey to implement an advanced retail forecasting, allocation and replenishment solution by a pioneering company in this space. This will move us away from historic solutions to one based on AI and ML (machine learning), thereby adopting state-of-the-art capabilities to enhance inventory planning, improve forecasting accuracy and drive business growth. As part of a second phase, we will also deploy an AI-driven, unified price optimisation solutions to manage margins, markdowns and promotions in the lifecycle of products that we manage,” shared Santosh Shetty, Head of IT at LIWA.

Tomorrow’s tech agenda

For the longest time, digital transformation dominated almost every tech-related conversation within retail. It seems to have suddenly given way to AI.

In this context, Shetty observed, “Next on the heels of digital transformation, which is not going to end, is bringing in cutting edge technologies and inclusion of emerging technologies such as AI and ML to support operational efficiencies and focus on the customer experience.”

Advanced AI algorithms will drive hyper-personalised shopping experiences, using customer data to offer tailored recommendations and promotions. While ML can optimise inventory levels, reducing waste and ensuring products are available when and where they are needed, he pointed out emphasising that LIWA is already leveraging this solution.

Meanwhile, omnichannel integration also ranks high on LIWA’s wider tech ambitions, which will include click and collect service, virtual stores, endless aisles, mobile commerce and more – all working seamlessly keeping customer first as the cornerstone. “In 2025 we plan to implement the next generation of customer engagement solution which promises to work seamlessly with our omnichannel platforms expected to be deployed by then,” Shetty stated.

Fashion’s AI moment

As an industry fashion seems to be at a ‘watershed’ moment with technology playing a crucial role in the industry’s approach towards sustainability and innovation.

Asked for his thoughts, Shetty agreed that fashion is indeed at a watershed moment, driven by the convergence of technology, sustainability and innovation. “This transformation is multi-dimensional affecting the supply chain system as a whole and way the products are retailed and consumer engagement with AI promising to play a major role in all of this.”

“For example, we will make huge advances in online shopping experience where AR (augmented reality) and AI will allow for virtual try-ons, ensure that right products and sizes are recommended, reducing return rates and the subsequent loss of revenues and waste from returns. We will also a see next level of consumer preferences being analysed facilitating supply chain optimisation,” he concluded.