The Wall Street Journal revealed that LVMH has worked with Google Cloud to create a central data platform for its 75 brands and is applying predictive and generative AI and agents in areas such as supply chain planning, pricing, product design, marketing, and personalisation.
For example, staff at Tiffany & Co. have access to an agent who can summarise every previous interaction with a customer and use this information to generate personalised messaging.
In e-commerce, LVMH uses Google’s Search for Commerce product to better understand what customers are searching for on their websites.
LVMH group IT and technology director Franck Le Moal said this significantly improved conversion rates, proving that technology was a critical focus for retailers in the current economic climate.
“The market is becoming tougher for everyone,” he said.
“We are spending a significant amount on technology. Tech is, for me, mandatory to become super-efficient and at the same time keep the spirit and the essence of luxury and offer the best possible luxury experience.”
The report also revealed that LVMH is using AI programs to adjust prices based on factors such as currency fluctuations. Design teams now use generative AI to construct ‘mood boards’ for inspiration, and marketing departments are using technology to generate more personalised copy for e-commerce sites.
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