Brands bank on technology to drive sales, win consumers

Technologies such as artificial intelligence, big data and augmented reality are integral for forecasting consumer demand, as sales for the upcoming Singles Day are expected to reach new heights.

Coined by Alibaba Group Holding Ltd in 2009, the Nov 11 shopping gala - the world's largest single-day discount event - will see transaction volume top 152 billion yuan ($22.9 billion) this year, up 26 percent from a year ago, according to estimates from consultancy Oliver Wyman.

Brands are adopting technologies like AI and advanced analytics to help predict consumer behavior in e-commerce and beyond, turning it into a truly "smart affair", said Edouard de Mezerac, partner of Oliver Wyman.