Australian retailers have spent much of the last few years buffeted by economic challenges. In 2024, squeezed by the rising cost of living, inflationary impact, and interest rates, they are now grappling with declining consumer spending and confidence.
But 2025 and 2026 will bear good news, according to Deloitte. A rebound is on the horizon, which means a substantial opportunity for growth for those retailers that can get ahead of the curve. Many retailers are looking to AI for that competitive advantage. Salesforce’s recent State of Commerce report found that 80% of eCommerce businesses already leverage AI solutions.
However, successful AI implementation requires more than cutting-edge technology. It demands a robust foundation of consistent, high-quality data across all retail channels and systems.
Enter Akeneo, a global leader in Product Experience Management (PXM) and AI tech stack solutions. Its newly appointed CEO, Romain Fouache, is bringing Australian retailers a collection of cloud-based technologies, including Product Information Management (PIM), Syndication, and Supplier Data Manager capabilities to rapidly scale the depth and maturity of their AI applications.
“AI has the power to revolutionise retail, but success hinges on the quality of the foundation it is built upon: data. At Akeneo, our vision is to empower retailers with a unified platform that transforms fragmented product information into a strategic asset,” says Fouache. “By ensuring consistent, high-quality product data, we enable businesses to unlock AI’s full potential to drive growth, innovation, and exceptional customer experiences.”
The AI Revolution in Australian Retail
The enthusiasm for AI adoption among Australian retailers reflects a broader transformation in how businesses approach customer experience, inventory management, and operational efficiency. According to Retail Doctor Group’s latest research, Australian retailers demonstrate a sophisticated understanding of AI applications, particularly in personalisation, demand forecasting, and supply chain optimisation.
These priorities illustrate how AI influences every facet of retail operations, revolutionising both customer engagement and backend efficiency. From chatbots handling customer queries to algorithmic pricing strategies and automated inventory management, retailers are finding innovative ways to leverage AI capabilities.
Fouache sees AI driving a seismic shift in retail, on par with the disruption sparked by eCommerce a few years ago.
“The disruption isn’t in the technology itself but in how it can transform buying behaviours. In just the past few months, we’ve seen AI-powered shopping agents redefine product discovery and understanding,” explains Fouache. “This shift challenges retailers to rethink how they present and position their offerings. So the question here isn’t if AI will disrupt your business. It’s whether you’ll right the wave or be swept away.”
The Data Consistency Challenge
However, this AI revolution brings its own set of challenges. As retailers rush to implement AI solutions across their operations, many are discovering that their existing data infrastructure isn’t ready for this transformation. The problem lies in the fragmented and often siloed nature of retail data ecosystems, where product information is scattered across multiple systems, platforms, and channels.
“The biggest challenge retailers face isn’t access to AI, but the quality and readiness of their product data. Our customers and prospects face a growing challenge of managing vast amounts of product data across multiple channels and markets,” adds Fouache. “They struggle with ensuring consistency, accuracy, and relevance in their product information, which is critical for delivering exceptional shopping experiences, training reliable AI models, and building trust with their customers. Without data that is accurate, comprehensive, and adaptable to every customer’s intent, businesses risk being left behind.”
This may result in challenges such as difficulty scaling AI implementations effectively across the entire retail operation. Perhaps most concerning is the increased compliance risk that stems from inconsistent product information.
In recognising these challenges, Akeneo has developed the Akeneo Product Cloud, a comprehensive solution that delivers Product Information Management (PIM), Syndication, and Supplier Data Manager capabilities. This integrated platform helps retailers establish a single source of truth for their product data while leveraging AI to enhance data quality and consistency.
The platform offers tailored solutions for different market segments. For retailers and distributors, the focus is on managing complex product catalogues and multichannel distribution. Brands and manufacturers benefit from features emphasising brand consistency and efficient product information syndication.
Success stories from both B2B and B2C sectors demonstrate the platform’s versatility.
Kitwave, a major B2B distributor, has successfully streamlined its product information management across multiple distribution channels with Akeneo PIM. Since then, its online customer return rate dropped from 10% to 1.6% with the vast majority of returns being damaged products instead of unsatisfied purchases, and online sales have a 7% average cart value compared to traditional telephone sales.
Meanwhile, luxury fashion brand Zadig&Voltaire has leveraged Akeneo PIM to host about 120,000 unique product references in a centralised and automated system that team members can easily access. Not only did internal team productivity and collaboration improve, product information is now more accurate and consistent to empower the company to maintain brand consistency while scaling its global operations.
The Path Forward
As AI continues to reshape retail operations, the importance of maintaining consistent, high-quality product data will only grow. Retailers who invest in robust data management solutions today will be better positioned to leverage future AI innovations and deliver superior customer experiences.
With its comprehensive approach to product experience management and commitment to innovation, Akeneo aims to empower retailers to unlock the full potential of their product data and respond to customer needs instantly and accurately.
Fouache is confident retailers can benefit greatly from Akeneo’s upcoming developments.
“Our focus on building a solution that supports the evolving needs of retailers, from delivering seamless omnichannel experiences to incorporating AI-driven insights, is demonstrated in future updates. This includes AI-driven tools that reduce the effort needed to achieve AI-ready product information and will be made accessible to organisations of all sizes. You can also expect innovative features that will push the envelope of automation, scalability, and personalisation to keep you ahead of the curve,” concludes Fouache.
Learn more about Akeneo Product Cloud here.
